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In 2016, Zpryme explored how the utility industry was using machine learning in coordination with the network-connected devices that comprise the Internet of Things (IoT) to understand the impact these technologies were having on business practices and what the future held for improving operational and customer outcomes. In the past two years, the pace of analytical and technological advancement has only increased to the point that focusing solely on machine learning is not comprehensive enough. Machine learning is just one of many components of Artificial Intelligence (AI), which if properly deployed across the enterprise could dramatically impact financial, societal, and environmental performance.

Deploying advanced analytics and AI to unlock the power IoT is already transforming the utility industry, but the unanswered question is where will this advancement take us from here? This report focuses on AI at utility companies and explores how AI and IoT work together to deliver everything from improved threat detection to better customer engagement. More specifically, this paper explores:

  • How the utility industry expects the combination of AI and IoT to impact vital business operations and customer engagement.
  • What benefitselectric utilities have realized or expect to gain from the synergies of deploying AI with IoT.
  • What challenges exist to fully realizing value and what the future looks like for AI and IoT in utilities, including the influence of blockchain.