Smart Forecasting With AI: Revolutionizing Energy Consumption and Storage

Abstract

The use of smart forecasting in artificial intelligence (AI) to transform energy storage and consumption is examined in this chapter. Artificial intelligence (AI) is revolutionizing the energy systems industry particularly in the areas of smart grids energy storage management and renewable energy by analysing large volumes of data and finding patterns. In order to predict energy generation and consumption maintain grid stability and maximize storage the chapter explores the crucial roles that AI and machine learning play. Additionally, it emphasizes how big data, and AI can be combined to increase forecasting accuracy which has important ramifications for renewable energy sources like solar and wind. The effective use of AI in energy forecasting commodity market forecasting and smart grid operations is demonstrated by real-world case studies. Chapter also addresses ethical and social issues in AI deployment focusing on the cooperation of AI systems with human expertise.