IBM’s latest findings from its global study reveal significant adoption of AI within the Energy & Utility sector, with 74% of companies implementing or exploring AI in their operations. Among IT professionals in the sector, 33% are focusing AI projects on HR/Talent Acquisition, while 27% are focused on AI Monitoring & Governance.
These insights align with the findings from IBM Institute for Business Value’s study on CEO decision-making in the age of AI, which indicates that Energy & Resources CEOs are particularly optimistic about realizing value from generative AI and automation in the next three years. However, concerns about data sources for generative AI remain prevalent, with 61% of CEOs expressing worries in this regard.
To address these challenges and help Energy & Resources companies harness the potential of AI, IBM is showcasing its watsonx platform at Distributech 2024. This enterprise-ready AI and data platform aims to assist companies in navigating data-related challenges and implementing effective AI governance. The watsonx.governance toolkit offers utilities the ability to direct, manage, and monitor their AI initiatives, ensuring responsible and ethical decision-making throughout the organization.
Casey Werth, Global Energy Industry General Manager at IBM, emphasizes the importance for Energy & Utility CEOs to focus on leveraging AI for driving business value, particularly through generative AI and foundation models. He highlights the significance of data governance in ensuring the effectiveness and ethical use of AI tools and processes within the industry.
IBM’s presence at #DISTRIBUTECH24 includes executive speaking sessions covering various topics such as Quantum in the Energy Sector, Digitally Managing Emergency Response & Mobilization, Digital Twin for advanced Load Management, and Applying weather & climate risk analytics for resilient grids. Additionally, IBM’s Energy CTO, Bryan Sacks, will lead an industry roundtable discussion on AI for Grid Management, exploring use cases, policy, and governance considerations in the energy and utilities sector.