Bengaluru, NFAPost: Schneider Electric, the leader in the digital transformation of energy management and automation, today announced the impact of a new multi-million dollar investment in machine learning tools and data science.
This investment brings AI-assisted advising to its energy and sustainability services offer, giving its clients access to next-generation digital tools. This improves the insights and analysis of a company’s energy and sustainability portfolio, driving more efficient value and bottom-line impact in pursuit of climate change resilience and other resource-reduction related targets.
The investment optimizes corporate resource consumption and reduction data during the dramatic worldwide energy and climate transition.
Most companies today still face data challenges that limit their sustainability approach. Companies struggle with inconsistent, incomplete, overabundant, and poor-quality resource consumption and cost data. The introduction of AI allows companies to get more value out of the data they produce and provides more accurate and efficient analysis as the foundation of an energy and sustainability strategy.
Continuing to add machine learning and data science to Schneider Electric’s decades long legacy in traditional energy and sustainability consulting enhances clients’ approach to how they source and procure energy and manage resources. This investment in technology will enable clients to benefit from improved predictive capabilities and enhanced insights.
The enhancements will more rapidly convert data into meaningful insights, better tailor recommendations to the needs of clients, and better support clients in reaching long-term environmental goals. Users will also be able to draw more confident conclusions that help reduce costs, manage risks, harvest opportunities, and build resilience into their sustainability strategy.
Schneider Electric Senior Vice President Steve Wilhite said the company finds tremendous opportunity to use the data and insights generated by organizations today to drive more than just operational benefits.
Schneider Electric Senior Vice President Steve Wilhite said a mind-plus-machine approach has already proven itself for applications in financial advising and traditional business consulting.
“We’ve found that collaborative intelligence produced by this newest class of technology, in conjunction with our world-class consultants, helps our clients create a sustainability-based competitive advantage,” said Schneider Electric Senior Vice President Steve Wilhite.
The company’s investment in next-generation services leads to new opportunities for clients across industries, while simultaneously augmenting existing offers, like the company’s best-in-class EcoStruxure Resource Advisor solution. Enabled capabilities include:
More tailored data paired with more customized, expedited recommendations New enhancements to manage distributed energy resources (DERs), commodity hedges, and connected devices
Enhanced data collection processes, including Robotic Process Automation, that allow for the spotting of errors and detection of new savings opportunities more quickly and thoroughly than before
Better real-time resilience and reliability of energy portfolios Mobile-optimised views for always-on, anytime information access
Schneider Electric Senior Vice President Steve Wilhite said the investment is the result of listening and responding to our client needs and capitalising on cutting edge technologies.
“The result is an enhanced framework to help us address energy demand, resource efficiency, and procurement on a level playing field, in a unified way for our customers,” said Schneider Electric Senior Vice President Steve Wilhite.
Schneider Electric Senior Vice President Steve Wilhite said it also frees the company’s team to connect differently with our clients.
“By automating our data processes and animating our clients’ results with advanced visualizations, decision-making is augmented and accelerated. Our teams lead our clients to faster, more innovative, and more sustainable solutions in this age of climate urgency, with a healthier bottom-line as a byproduct, and that’s a win-win for everyone,” said Schneider Electric Senior Vice President Steve Wilhite.