Itron Report Reveals the Critical Role of AI in Addressing Unprecedented Demand and Safety Challenges for Utilities
Itron's 2024 Resourcefulness Insight Report reveals the critical role of AI and machine learning in addressing utility challenges. Key findings from 600 utility executives across six countries show:
- 86% of utilities identify AI/ML as important for operational challenges
- 82% of utilities are adopting AI/ML
- Top AI/ML use cases: enhancing safety (49%), cyberthreat detection (34%), predictive maintenance (33%)
- Main barriers: lack of expertise (43%), high costs (41%), data infrastructure issues (40%)
The report highlights the strategic importance of grid edge intelligence for greater insight and control across distribution networks. Utilities are facing unprecedented demand growth, driven by data centers (40%), new construction (32%), and sustainability initiatives (31%). Top investment priorities include DERMS (26%), sensors (23%), and consumer engagement tools (22%).
Il Rapporto sulla Risorsa di Itron per il 2024 mette in luce il ruolo fondamentale dell'IA e dell'apprendimento automatico nell'affrontare le sfide delle utility. I risultati chiave di un sondaggio condotto su 600 dirigenti di utility in sei paesi mostrano:
- l'86% delle utility identifichano l'IA/AM come importante per le sfide operative
- l'82% delle utility stanno adottando l'IA/AM
- I principali casi d'uso dell'IA/AM: migliorare la sicurezza (49%), rilevamento delle minacce informatiche (34%), manutenzione predittiva (33%)
- Le principali barriere: mancanza di competenze (43%), costi elevati (41%), problemi di infrastruttura dei dati (40%)
Il rapporto evidenzia l'importanza strategica dell'intelligenza al confine della rete per una maggiore visibilità e controllo sulle reti di distribuzione. Le utility stanno affrontando una crescita della domanda senza precedenti, alimentata dai data center (40%), nuove costruzioni (32%) e iniziative di sostenibilità (31%). Le principali priorità di investimento includono i DERMS (26%), i sensori (23%) e gli strumenti di coinvolgimento dei consumatori (22%).
El Informe sobre Ingenio de Recursos 2024 de Itron revela el papel crítico de la IA y el aprendizaje automático para abordar los desafíos del servicio público. Los hallazgos clave de 600 ejecutivos de servicios públicos en seis países muestran:
- el 86% de las utilidades identifican la IA/AM como importante para los desafíos operativos
- el 82% de las utilidades están adoptando la IA/AM
- Principales casos de uso de IA/AM: mejorar la seguridad (49%), detección de ciberamenazas (34%), mantenimiento predictivo (33%)
- Principales barreras: falta de experiencia (43%), altos costos (41%), problemas de infraestructura de datos (40%)
El informe destaca la importancia estratégica de la inteligencia en el borde de la red para una mayor visión y control en las redes de distribución. Las utilidades se enfrentan a un crecimiento sin precedentes en la demanda, impulsado por centros de datos (40%), nueva construcción (32%) e iniciativas de sostenibilidad (31%). Las principales prioridades de inversión incluyen DERMS (26%), sensores (23%) y herramientas de participación del consumidor (22%).
아이트론의 2024 자원 활용 통찰력 보고서는 유틸리티 도전 과제 해결에 있어 인공지능(AI) 및 기계 학습(ML)의 중요한 역할을 밝혀냅니다. 여섯 개국의 600명의 유틸리티 경영진을 대상으로 한 주요 발견은 다음과 같습니다:
- 유틸리티의 86%가 운영 문제 해결에 AI/ML이 중요하다고 인식하고 있음
- 유틸리티의 82%가 AI/ML을 채택하고 있음
- 주요 AI/ML 사용 사례: 안전성 향상 (49%), 사이버 위협 탐지 (34%), 예측 유지보수 (33%)
- 주요 장벽: 전문성 부족 (43%), 높은 비용 (41%), 데이터 인프라 문제 (40%)
이 보고서는 배전 네트워크 전반에서 더 큰 통찰력과 통제를 위한 그리드 엣지 인텔리전스의 전략적 중요성을 강조합니다. 유틸리티는 데이터 센터(40%), 신축(32%) 및 지속 가능성 이니셔티브(31%)로 인해 전례 없는 수요 성장에 직면하고 있습니다. 주요 투자 우선 사항은 DERMS(26%), 센서(23%) 및 소비자 참여 도구(22%)를 포함합니다.
Le Rapport sur l'Ingéniosité des Ressources 2024 d'Itron révèle le rôle essentiel de l'IA et de l'apprentissage automatique pour faire face aux défis des services publics. Les résultats clés d'une enquête auprès de 600 dirigeants de services publics dans six pays montrent :
- 86 % des services publics estiment que l'IA/AM est importante pour les défis opérationnels
- 82 % des services publics adoptent l'IA/AM
- Principaux cas d'utilisation de l'IA/AM : amélioration de la sécurité (49 %), détection des cybermenaces (34 %), maintenance prédictive (33 %)
- Principales barrières : manque d'expertise (43 %), coûts élevés (41 %), problèmes d'infrastructure de données (40 %)
Le rapport souligne l'importance stratégique de l'intelligence en bordure de réseau pour obtenir une meilleure visibilité et un meilleur contrôle des réseaux de distribution. Les services publics font face à une croissance de la demande sans précédent, alimentée par les centres de données (40 %), les nouvelles constructions (32 %) et les initiatives de durabilité (31 %). Les principales priorités d'investissement comprennent les DERMS (26 %), les capteurs (23 %) et les outils d'engagement des consommateurs (22 %).
Der Ressourcenbericht 2024 von Itron zeigt die Kernrolle von KI und maschinellem Lernen bei der Bewältigung der Herausforderungen im Bereich der Versorgungsunternehmen. Wichtige Ergebnisse von 600 Führungskräften der Versorgungswirtschaft aus sechs Ländern zeigen:
- 86% der Versorgungsunternehmen sehen KI/ML als wichtig für operationale Herausforderungen an
- 82% der Versorgungsunternehmen wenden KI/ML an
- Die wichtigsten Anwendungsfälle für KI/ML: Verbesserung der Sicherheit (49%), Erkennung von Cyberbedrohungen (34%), vorausschauende Wartung (33%)
- Hauptbarrieren: Mangel an Fachwissen (43%), hohe Kosten (41%), Probleme mit der Dateninfrastruktur (40%)
Der Bericht hebt die strategische Bedeutung von Intelligenz am Netzrand hervor, um mehr Einblicke und Kontrolle über Verteilungsnetze zu ermöglichen. Versorgungsunternehmen sehen sich mit einem beispiellosen Nachfragestieg konfrontiert, der durch Rechenzentren (40%), Neubauten (32%) und Nachhaltigkeitsinitiativen (31%) vorangetrieben wird. Zu den wichtigsten Investitionsprioritäten gehören DERMS (26%), Sensoren (23%) und Verbraucherengagement-Tools (22%).
- 86% of utilities recognize AI/ML as important for addressing operational challenges
- 82% of utilities are in the process of adopting AI/ML
- AI/ML identified as key for enhancing safety (49%), cyberthreat detection (34%), and predictive maintenance (33%)
- Utilities investing in DERMS (26%), sensors (23%), and consumer engagement tools (22%) over next five years
- Barriers to AI/ML adoption include lack of expertise (43%), high investment/integration costs (41%), and data infrastructure issues (40%)
- Unprecedented growth in electricity demand challenging grid reliability and resilience
- Utilities facing pressure to double or triple grid size while maintaining affordability and improving reliability
Insights
The report highlights a significant shift in utility operations, with 86% of utilities recognizing AI and ML as important for addressing operational challenges. This underscores the industry's move towards digital transformation and smart grid technologies.
Key findings include:
- 82% of utilities are in the process of adopting AI/ML
- Top use cases: enhancing safety (
49% ), cyberthreat detection (34% ) and predictive maintenance (33% ) - Main barriers: lack of expertise (
43% ) and high investment costs (41% )
For Itron (ITRI), this trend presents significant opportunities as a provider of smart metering, data analytics and grid management solutions. The company is well-positioned to capitalize on utilities' increasing investments in DERMS, sensors and consumer engagement tools.
However, the report also highlights challenges, including the need for expertise and high integration costs, which could impact adoption rates and Itron's growth potential in the short term. Long-term prospects remain strong as utilities continue to prioritize grid intelligence and safety enhancements.
This report reveals a critical inflection point in the utility sector, driven by unprecedented demand growth from data centers, new construction and sustainability initiatives. The industry is facing a monumental challenge: potentially doubling or tripling grid capacity while improving reliability and reducing environmental impact.
Key implications for investors:
- Increased capital expenditures by utilities on AI/ML technologies
- Growing market for grid edge intelligence solutions
- Potential for new revenue streams from data-driven services
For Itron, this presents a significant growth opportunity. As a leader in smart metering and grid management, the company is well-positioned to meet the rising demand for AI-enabled solutions. However, investors should monitor Itron's ability to address the expertise gap and manage integration costs, as these are identified as major barriers to adoption.
The emphasis on safety and cybersecurity as top use cases for AI/ML also aligns well with Itron's existing strengths, potentially leading to expanded market share and higher-margin offerings in these critical areas.
LIBERTY LAKE, Wash., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, today released its 2024 Resourcefulness Insight Report (“the report”) that explores the current trends and future expectations of artificial intelligence (AI) and machine learning (ML) on utility operations and strategies. The report, Exploring AI for Utilities: The Promise and Challenges of Artificial Intelligence, summarizes key findings from 600 utility executives from the United States, Canada, France, United Kingdom, India and Australia about the strategic importance of AI and ML in addressing industry challenges.
“Our research provides an in-depth look at how utilities are grappling with historic growth in electricity demand while keeping safety front and center,” said Marina Donovan, vice president of global marketing, ESG and public affairs at Itron. “As utilities continue their journey toward a more connected and intelligent grid, the integration of AI and ML becomes both a necessity and a strategic advantage to meeting today’s challenges.”
As demand for electricity continues to grow—which utility executives indicate is driven by data centers for cloud computing and AI (
“The greatest challenge and opportunity facing the utility sector is figuring out how to double or even triple the size of the grid over the next two decades while maintaining affordability, improving reliability, and decreasing its environmental impact. The findings from Itron's Resourcefulness Insight Report highlight the importance of strategic, forward-thinking investments in technology and infrastructure to ensure an accessible, safe and sustainable energy future for all,” said Dr. Michael Webber, Sid Richardson Chair in Public Affairs and the John J. McKetta Centennial Energy Chair in Engineering at the University of Texas at Austin.
Additional findings include:
- Utilities' top technology investment priorities over the next five years to address these challenges include distributed energy resource management systems DERMS (
26% ), sensors (23% ), consumer engagement tools (22% ), and low-voltage distribution network management (20% ). 82% of utilities are in the process of adopting AI/ML.- Enhancing safety is the top use case for AI/ML (
49% ), followed by cyberthreat detection (34% ) and predictive maintenance (33% ). - Barriers to developing and deploying AI/ML solutions are lack of expertise (
43% ), high investment/integration costs (41% ), data infrastructure, governance, standardization and scalability (40% ) and risks of unproven technology (39% ).
The report highlights the strategic importance of AI and ML, particularly through the adoption and enhancement of grid edge intelligence, which provides greater insight and control across the distribution network. Utility executives identify many benefits associated with AI, ML and grid edge intelligence. All countries surveyed agreed that the top area where AI and ML can have the biggest impact is detecting and managing potentially dangerous situations.
“As utilities improve intelligence at the grid edge through the adoption of AI and ML, they are optimizing operations and paving the way for a more sustainable and resilient future,” added Donovan. “Our findings reveal that the age of AI for utilities is here, and the strategic deployment of these technologies is crucial for enhancing safety, improving consumer engagement and achieving long-term sustainability goals. The commitment of utilities to harness the power of AI and ML will be a driving force in shaping the next generation of smart utility management.”
To download a full copy of the Itron Resourcefulness Insight Report as well as the research, visit www.itron.com/resourcefulness.
Methodology
The 2024 Resourcefulness Insight Report consolidates perceptions of utility executives on topics relating to AI, ML and edge intelligence. A total of 600 online surveys were completed in June 2024 by utility executives in Australia, Canada, France, India, the United Kingdom and the United States. Respondents were mid-level managers or higher who have input on decision making for electric, gas and water utilities. Their areas of responsibility ranged from selling products, working in operations, strategic planning, customer service and a variety of administrative services.
About Itron
Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Media Contact
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Corporate Communications
(509) 891-3802
pr@itron.com
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