The industrial and business world is increasingly realising the benefits Artificial Intelligence (AI) can bring. AI has the power to analyse complex data, deliver actionable insights, increase the production value of assets and protect against cyber threats.
National Grid Partners (NGP) – the venture capital and innovation arm of National Grid Ventures – sees the value in this technology to help lead the way in the energy industry and has recently invested in AI specialist SparkCognition.
US-based SparkCognition works with customers across a range of sectors including financial services, manufacturing, aviation, oil and gas to develop products that make AI more accessible for all. In the energy and utility space, AI has the potential to transform the way assets are managed; by automating processes such as predictive and prescriptive maintenance and inspections, as well as by providing personalised customer care and response.
The first application that NGP will explore with SparkCognition is cybersecurity. The partnership will also deliver access to leading edge AI capabilities to secure critical infrastructure and provide more reliable and cost-effective energy services to customers.
Lisa Lambert, National Grid’s Chief Technology and Innovation Officer and Founder and President of National Grid Partners, says: “We are investing in technologies that will enable the energy systems of tomorrow. From modernizing our assets, to providing advanced safeguarding and security measures, National Grid is delivering a safer and more seamless energy experience for its customers.”