Hitachi Energy has launched Nostradamus AI, a new breed of AI-based energy forecasting software designed to improve accuracy by up to 20% over some industry benchmarks.
The software helps optimize energy investments, refine trading strategies and maximize revenue opportunities, while improving operational efficiency, resource planning and regulatory transparency.
“Advanced forecasting is essential for effectively managing a company’s energy portfolio strategy, allowing operators and analysts to quickly make informed decisions across their businesses,” said Massimo Danieli, managing director of grid automation at Hitachi Energy. “We applied our extensive expertise in energy and data science to create an AI engine that can significantly accelerate users’ ability to make impactful decisions with their energy data, deliver improved profitability within their business, and scaling up as the electricity grid evolves. ”
Nostradamus AI, a cloud-based platform, scales from a single prediction to more than 100,000. The AI engine generates predictions for renewable energy generation at levels ranging from a single wind turbine or solar farm to thousands of charging points.
The software is algorithm-agnostic and supports several high-performing AI models. The configurable architecture allows organizations to integrate existing API endpoints, accelerating development and enabling seamless automation and system integration.
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