Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups in the energy industry. As there is a large number of startups working on a wide variety of solutions, we decided to share our insights with you. This time, we are taking a look at 5 promising Big Data & Machine Learning solutions.
Heat Map: 5 Top Big Data & Machine Learning Startups Out Of 200
For our 5 picks of Big Data & Machine Learning startups, we used a data-driven startup scouting approach to identify relevant solutions globally. The Global Startup Heat Map below highlights 5 interesting examples out of 200 highly relevant Big Data and Machine Learning solutions for the energy sector. Depending on your specific needs, your top 5 picks might look entirely different.
Currant – Energy Efficiency Improvement
As the energy industry uncovers the benefits of Artificial Intelligence (AI) and Data Science, startups develop more and more apps and tools, that harness AI to help their customers improve energy efficiency. Machine Learning (ML) algorithms in these apps create analyses of energy usage data to identify consumption patterns. They also determine the amount of energy consumed by a particular home appliance and offer personalized suggestions on how to save energy and reduce bills. US-based Currant creates smart home products, which give people remote control over their homes and enable them to reduce their energy consumption without sacrificing comfort. Currant’s AI-powered product – the Currant Smart Outlet – records electrical usage data and sends them to the app for AI-driven analysis. As a result of this analysis, customers receive personalized energy-saving recommendations.
SparkCognition – Asset Failure Detection
Equipment failure in the energy industry, especially on coal-fired power plants, potentially cause injuries or even the death of workers. Artificial intelligence is helpful in preventing this problem. AI algorithms analyze equipment data and detect failures before they happen to save money, time, and people’s lives. US startup SparkCognition uses a combination of ML algorithms, sensors, and operational data to predict when critical infrastructure will fail. It also enables timely maintenance and therefore prevents accidents in power plants and power stations and their adverse consequences.
VIA – Predictive Analytics
Data collected by smart meters, drones, and sensors placed on energy assets as well as weather data are processed by machine learning algorithms in order to predict energy demand, grid load, outages, amount of renewable energy generated by solar panels and wind turbines.US startup VIA, for example, uses AI to help global power generation and distribution companies to predict outages and improve the flow of power through their vast power networks.
Ambyint – Upstream Exploration & Production
Most drilling wells for oil exploration and production are located in remote areas, creating additional expenses for sending workers there. To reduce these costs startups offer AI-powered real-time management and analyzing platforms integrated with on-site equipment. Ambyint, a Canadian startup, develops intelligent adaptive controllers which integrate with motor and other moving parts of lift systems to deliver both real-time control and optimize production.
Raptor Maps – Virtual Inspections
Using data collected by drones, aerial data companies in the energy industry can perform virtual inspections of solar and wind (both offshore and onshore) assets. US-based Raptor Maps develops AI-powered software that performs automatic analysis of PV system drone imagery and creates actionable reports to track and manage solar asset health.
What About The Other 195 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence for your Proof of Concept (PoC), partnership, or investment targets. The 5 Big Data & Machine Learning startups showcased above are promising examples out of 200 we analyzed for this article. To identify the most relevant solutions based on your specific criteria and collaboration strategy, get in touch.