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Hitachi Energy has unveiled Nostradamus AI, an artificial intelligence (AI)-powered energy forecasting solution designed to help energy sector stakeholders improve forecasting and decision-making. With its tailored analytics and precision, Nostradamus AI helps to empower utilities, power system operators, energy producers, and traders to further optimize their operations in an increasingly complex energy landscape.
Transforming Energy Forecasting
Nostradamus AI leverages Hitachi Energy’s 30+ years of energy market expertise and its data sets to deliver forecasts that are estimated by Hitachi Energy to be over 20 percent more accurate than using traditional energy forecasting methods. This enhanced accuracy helps users to improve their energy investment strategies, trading opportunities, and operational efficiencies, while increasing transparency for regulatory compliance.
Key Features of Nostradamus AI
Configurable Predictive Analytics: Nostradamus AI helps to enable users to integrate their proprietary data, third-party data, and unique parameters into pre-tuned models. These models, referred to as pipelines, can generate more accurate and customized forecasts for system loads, renewable energy generation, and market pricing.
Purpose-built for Energy Use Cases: By combining grid-performance data, market forecasts, and machine learning techniques, the solution provides tailored insights for energy-specific scenarios.
Cloud-native and Scalable: Capable of handling forecasts ranging from single assets to thousands of data points, Nostradamus AI’s algorithm-agnostic and composable architecture is designed to help it scale as future forecasting needs grow.
Streamlined Operations: The solution helps to reduce the need for labor-intensive manual processes while incorporating energy industry inputs, such as asset performance predictions and price forecasts, helping to enable faster and more informed decision-making.
Designed for Today’s and Tomorrow’s Evolving Energy Landscape
As the global energy landscape evolves, the demand for more precise forecasting grows. Renewable energy sources, such as wind and solar, contribute to grid volatility, while expanding electricity demand and decarbonization goals add further complexity. Nostradamus AI helps to bridge the gap between traditional forecasting models and the modern energy market by processing vast, disparate data sets to help provide more reliable predictions.
Flexible Deployment Options
Nostradamus AI is available as a standalone solution within Hitachi Energy’s Energy Portfolio Management (EPM) suite and as an integrated component of its broader digital offerings, including Grid Edge Solutions and Network Manager systems. This flexibility allows users to adopt the tool according to their unique needs while enabling integration with existing systems.
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