Hitachi Energy launches AI-Powered energy investments forecasting solution

Hitachi Energy has launched a new artificial intelligence (AI)-powered energy forecasting solution, Nostradamus AI. Developed using Hitachi Energy’s deep energy industry expertise, Nostradamus AI leverages the company’s 30 years of the most extensive energy market data to provide utilities, power system operators, energy producers, and traders with highly precise forecasts for common energy-specific use cases.

One of the first AI forecasting solutions purpose-built for the energy industry, Nostradamus AI is a modern AI engine that can generate forecasts estimated to be over 20 percent more accurate than some industry targets. The solution optimizes energy investments, trading strategies, and revenue opportunities, streamlines operational efficiencies and resource planning, and ensures transparency for regulatory compliance.

“Advanced forecasting is integral to effectively manage a company’s energy portfolio strategy, allowing operators and analysts to make informed decisions across their businesses quickly,” said Massimo Danieli, Managing Director, Business Unit Grid Automation for Hitachi Energy. “We’ve applied our extensive energy domain expertise and data science background to create an AI engine that can significantly accelerate the ability of users to make impactful decisions with their energy data, deliver improved profitability across their businesses, and scale as the grid evolves.”

Nostradamus AI, built specifically for the energy industry using Hitachi Energy’s domain expertise, combines grid-performance data, market forecasts, and advanced asset monitoring underpinned by machine learning and other data science best practices.