Artificial Intelligence (AI) is poised to have a significant impact on the strata industry, particularly in the realm of energy, electricity, gas and sustainability. Strata properties, which consist of multiple units within a single building or complex, face unique challenges and opportunities when it comes to optimizing energy use and promoting sustainability.
Retailers use AI to analyse customer data e.g. consumption patterns, demographics, preferences to segment customers into different groups. This allows for personalised offerings and targeted marketing campaigns tailored to specific customer needs.
AI models can predict energy demand patterns based on historical data, weather forecasts, and other variables. Retailers and networks use this information to optimise pricing strategies, adjust tariffs dynamically, and manage supply-demand balance more effectively.
Metering providers and Broker like Watt Utilities leverage AI for advanced data analytics, deriving actionable insights from large volumes of meter data. This includes identifying trends, anomalies, and correlations that can inform energy management strategies for both consumers and energy providers.
AI enables real-time monitoring and control of smart meter networks. Metering providers can remotely diagnose metering issues, optimize data collection processes, and manage network performance efficiently.
Retailers, networks, and metering providers collaborate using AI to optimise grid operations, implement demand response programs, and manage energy flows more intelligently. This joint effort maximises efficiency across the entire energy value chain.
Watt Utilities uses AI in its software platform to extract data from utility accounts, verify against changing structures, validate accounts and look for anomalies in consumption patterns. AI analytics is also used to help forecast market trends to enable customers to forward price in market lows.
These technologies offer immense potential for the strata industry to enhance energy efficiency, promote renewable energy adoption, and foster sustainability practices. By leveraging AI-driven solutions, strata properties can achieve cost savings, reduce environmental impact, and create healthier and more resilient living environments for residents. AI empowers retailers, networks, brokers and metering providers in the energy sector to operate more efficiently, deliver better services, and drive sustainable energy practices. As these technologies continue to evolve, their impact on the energy industry will deepen, ushering in a new era of smart, responsive, and resilient energy systems.
To learn more about AI in Energy contact Watt Utilities. To discuss your property’s strata management needs or receive a FREE management proposal contact our friendly team. We also offer more helpful resources and community living news in our FREE newsletter.
