There are basically 3 main types of AI
They categorized them according to their capacity to mimic human intelligence.
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- Week AI
- Strong AI
- Super AI
Week AI: It is also called the narrow AI. It can’t perform tasks beyond the imitations. Their abilities to perform tasks with a narrow range.
Strong AI: It can perform tasks as same as human capability. It can learn & understand any task or problem as a human being can.
Super AI: It is a superintelligence. It can perform tasks & solve problems much better than human intelligence.
Use of Artificial Intelligence in human life?
AI is providing its services in every field. AI is making human lives easier and more efficient every day. In our daily lives, we commonly use Narrow AI (weak AI) like we are getting the recommendation on the basis of our searches.
We are using different artificial intelligence software in our daily lives. For example, we are using voice assistants, face lock/unlock, voice lock, biometrics, navigation, and smartphone apps. It also provides services in feeds of different social media platforms, smart cards, audio-video streaming, health-related apps, education-related apps, and face filters. There are many more applications like translation apps, weather forecasting apps, banking apps, transportation & manufacturing sector, energy sector, commodity sector, etc.
Many artificial intelligence robots & machines take over the dangerous tasks of saving human lives like mining. It reduces human errors and gives a boost to human creativity. Simply AI provides the application in every field also addressing their issues in development. It provides a wide range of AI applications and AI solutions that help them collect raw data, analyze data, clean data, and prepare data to provide the use full information.
Why AI is important in Energy and commodity sectors?
Artificial intelligence is important in every field nowadays but, when it comes to the energy and commodity sector it’s not only important it become the core need of these two fields.
Energy Sector
If we talk about the energy sector AI assists us in monitoring, collecting data, controlling, evaluating, and managing energy consumption everywhere. It reduces risk, cuts waste of energy, reduces cost, controls usage of & reduces in during peak hours, increases the use of renewable energy sources, and detects the defect or failure in the equipment before it occurs. It also helps to improve the planning, operation & control of the power system.
In grids by using AI, companies get a better forecast and manage their grids also schedule maintenance for their power grids. By using Artificial intelligence technologies in energy systems companies, they can collect data, identify their patterns and get insight into their data. Forecasting helps them to improve system performance and give possible model outcomes. So, they learn from their past experiences.
Commodity Sector
If we talk about the commodity sector AI assists us to manage risk and commodity forecasting. It helps make decisions better & faster in purchasing & selling, budgeting more accurately, controlling costs, predicting risks, and predicting opportunities.
AI technologies help to improve the overall agriculture industry quality & accuracy. It helps in detecting pests & diseases in plants and evaluates poor nutrition of farms. There are a lot of AI sensors that can detect and target weeds for farmers can easily decide which herbicide applied in which region.
Agriculture AI robots significantly increased in production of yields. AI Robots help in the automation of field activities and save farmers time on dull. They are used mostly for harvesting & picking, weed control, seeding, mowing, pruning, spraying, and thinning.
Best Application of AI in the Energy Sector?
There are many applications that are already used worldwide in the energy sector. Let’s take a look at how many AI applications are already in use:
- Smart Grid
- Grid security
- Grid Management
- Increased Production
- Predictive Analytics
- Energy Storage
- Energy Trading
- Power theft and Energy Fraud Detection
- Microgrids
- Customer Engagement
- Optimizing Energy Production and scheduling
- Asset Tracking and maintenance/ Digital Twins
- Defect Detection
- AI-led Cybersecurity
- Workplace Safety
- Emission Tracking
- Logistics Network optimizations
- AI Led Inventory Management
- Optimized procurement
- Reducing Equipment Downtime
- Preventive Maintenance
- Intelligent Resource Management
- AI-powered Consumption (Smart Power)
- Fault Perdition
- Management of renewable energy sources
- Maintenance facilities by Image Processing
- Energy Efficiency decision making
- Demand Management for Energy
- Prevention of losses due to informal connection
- Infrastructure Management for Energy and utilities
Best Application of AI in the commodity Sector?
Let’s have a look at the AI Applications and AI robots that are used in commodity sectors:
- Price Forecasting
- Risk Management
- Supply Chain Modeling
- Weather Forecasting
- Soil and crop health monitoring system
- Analyzing crop health by drones
- Precision Framing and Predictive Analytics
- Agricultural Robotics
- AL-enabled system to detect pests
- Insect and plant diseases detection
- Livestock Health Monitoring
- Intelligent spraying
- Automatic Weeding
- Aerial survey and imaging
- Produce grading and sorting
- In the future Farmers as AI engineers
- Weather Forecasting
- Health Monitoring of crops
- Disease Diagnosis
- Precision Farming
- Driverless tractors
- Improving ROI
What Tools we are providing in Energy and commodity sector?
Odyssey Analytics provides AI tools for the energy and commodity sector. It is an energy & commodity software consulting company.
Let’s have a Look
Odyx Yhat:
Time Series Forecasting for Everyone!
It’s a phenomenal tool for non-tech decision-makers and data scientists to simplify time-series data forecasting. With the no-code approach, users have the capabilities to streamline the whole, complex task into easy, understandable procedures. The user can clean, prepare, analyze, train, simulate & forecast data to get in-depth Insights from time-series data. It’s the automation from complex Data engineering processes to running advanced Machine Learning models.
Features
- Automatic model selection for accurate forecasting & anomaly detection.
- Connects with any type of data source (third-party database, APIs interface, or simply upload raw data).
- Provides accurate in-depth insights from your data.
- Assists in making profitable decisions by deploying productionized forecasting models.
- Deploys productionized models with a No-Code approach.
Odyx Agrilytics
Innovate the world with Agriculture Forecasting!
Odyx Agrilytics is designed to predict the probability of customer churn or retention. It provides a deep analysis of customer behaviors & predictability to retain customers. It understands the growth behavior & forecasts soft commodity prices which ultimately assists with winning contracts. Odyx Agrilytics includes modules for Transportation Optimization and Risk Management.
Features
- Predicts the probability of customer churn or retention
- Deep analysis of customer behaviors
- Growth behavior analysis
- Predictability to retain customers
- Soft commodity prices forecasting for winning contracts
- Modules for transportation optimization and risk management
- Users can simulate any business scenario by tweaking input features.
Conclusion
By using AI technologies, we can get the best, most accurate & fastest forecasting. The basic purpose of AI is to provide systems, robots, applications, programs, and solutions that act like human intelligence to help humans. There are a lot of applications already in use worldwide on a different platform. In the commodity and energy sector, AI has an important role. In the energy sector, it helps to monitor, collect data, control, evaluate, and manage energy consumption everywhere. In the commodity sector, AI assists us to manage risk and commodity forecasting. It helps make decisions better & faster in purchasing & selling, budgeting more accurately, controlling costs, predicting risks, and predicting opportunities. We are providing top notch tools to assist your business in the energy and commodity sector. For more details about our tools, you can contact us on 📧 info@odysseyanalytics.net.
