Kaiserwetter: Harnessing the power of big data and artificial intelligence to drive investment into renewables

Created by European Business Magazine |

It is no secret that we are currently facing a climate emergency. The Global Climate strikes which dominated world news in recent weeks, alongside the UN Climate Change Summit in New York, underlines the scale of the existential crisis we are facing and the urgency with which we must proceed to avert further irreparable damage to our planet.

Regrettably, the debates and discussions around Climate Change are often tinged with despair and hopelessness. The reality is that we have the knowledge and the solutions required to address this situation, and that investment into renewable energy sources should be at the core of confronting this climate emergency as an ethical investment solution to global warming.

Indeed, governments are already aware of this, and the European Union hopes to mobilize up to €177 billion of public and private investment per year from 2021 in order to meet its own climate change goals.  Investment into renewables is one of the solutions to address global warming pragmatically in a way that will produce mutual benefits for the planet and the global economy. In turn, this development will steer decision makers into supporting policies that will institutionalize these sustainable economic practices. Private investment in the sector using digitization such as the Internet of Things and Artificial Intelligence is essential for transitioning away from fossil fuels and towards investments which are both ethically attuned to the climate emergency we are facing, and economically viable and profitable. Kaiserwetter is at the vanguard of this drive towards increased digitalization in the renewables energy sector.

The reluctance to invest in clean energy sources stems from a number of misconceptions about the sector, notably that it is riddled with investment and performance risks, as well as susceptible to market volatility. The crux of Kaiserwetter’s strategy is based on the premise that these misconceptions must be changed to drive investment into the sector, and that data is the key to attracting the required capital to unlock the full potential of the renewable energy assets that are driving the clean energy transition. As the market’s first ‘IntelliTech’ company, Kaiserwetter’s business model is centered on digitalization performing Data Analytics as a Service (DAaaS) for the management of renewable energy production facilities, combining the opportunities offered by the Internet of Things (IoT) with Smart Data Analytics, Predictive Analytics and Machine Learning to maximize the efficiency of power generation. For example, Kaiserwetter´s award winning IoT Platform ARISTOTELES uses Smart Data Analytics, Predictive Analytics and Machine Learning based on Artificial Intelligence.

Those provide more certainty over changeable factors that impact renewables, like weather patterns, making investment in this sector more attractive and thus helping secure climate change targets. These methods of securing leverage over capital would provide the kick that the market needs right now to make these ambitious goals attainable. Machine Learning allows ARISTOTELES to present such a dynamic set of opportunities for investors, through its instinctive and intuitive approach to data analysis based on cutting- edge algorithms. We are building upon our expertise in this area and as a result we have been recently presenting our newest Machine Learning innovation, able to predict future wind turbine failures and surfacing alerts to maximize wind farm performance and to minimize investment risks. This story, involving data scientists, is a success, especially by knowing that 85% of all AI projects are failing.

Being part of the 15% shows Kaiserwetter’s great capabilities for future AI innovation. Kaiserwetter provides the key to the push that the market needs right now urgently to attract and maintain the profitability of private investment into renewable energy technologies in an agile and intelligent manner across borders through data analytics and digitalization. Through this, the ambitious goals set forward by the EU can be reached and carbon emissions reduced. IoT, Big Data, Smart Data Analytics, Predictive Analytics, Augmented Analytics and AI present the future of renewable energy and a means of helping to change the situation around climate change. But without continued investment, strategic partnerships and commitment, we risk backtracking. Through partnerships with companies like Kaiserwetter, energy investors can invest in these renewable energy funds with confidence that they will have higher protection against market volatility and will be turning the tide on the climate crisis.

 

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