How can AI help improve demand forecasting in India’s power sector?

In this businessline State of The Economy Podcast, Rishi Ranjan Kala speaks with Arindam Ghosh, Partner Power Advisory at Nangia Anderson India, about the influence of artificial intelligence (AI) on the power sector.

“AI is becoming an integral part of all industries, including the power sector. Its ability to perform high-level cognitive processes is transformative for managing large-scale power systems,” Ghosh notes.

The discussion covers various AI applications within the power sector, such as grid optimisation, predictive maintenance, and cybersecurity. Ghosh adds, “AI-driven analytics can enhance grid reliability and security, effectively mitigating cyber threats.”

Ghosh discusses AI’s role in optimising energy consumption and minimising wastage in power systems. “Energy-efficient algorithms and smart grid technologies can significantly reduce energy consumption and improve overall system efficiency,” he emphasises.

He also addresses the challenges posed by AI’s escalating power consumption and its implications for power infrastructure. “Balancing growing electricity demand with efforts to enhance energy efficiency is crucial for sustainable power management,” he points out.

Moreover, Ghosh examines the ramifications of integrating AI into power systems, advocating for leveraging AI to optimise distribution networks and augment revenue collection. “AI can help identify areas of power theft and improve revenue collection for distribution companies,” he notes.

Host: Rishi Ranjan Kala, Producer: Amitha Rajkumar, Edit: Siddharth Mathew Cherian.

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