CARY, N.C., Nov. 6, 2019 /PRNewswire/ -- ABB is
deploying artificial intelligence (AI) to help commercial and
industrial buildings revolutionize their energy management and
tackle rising electricity peak tariffs. The company has added two
new AI-powered applications to the ABB Ability™
Electrical Distribution Control System (EDCS): Energy Forecasting
and Intelligent Alerts.
ABB has developed the AI functions in partnership with Silicon
Valley AI specialist Verdigris Technologies as part of the
company's Open Innovation program. The Energy Forecasting app will
enable users to reduce their electricity bills by reducing peak
demand charges. The Intelligent Alerts app uses machine learning
algorithms to help customers better manage their assets,
identifying underlying issues before they become problems.
Andrea Temporiti, Digital Leader
for ABB's Electrification business, said: "Our use of AI to help
customers make better energy management decisions demonstrates
ABB's commitment to innovation in our products and quality in our
services. With the new Energy Forecasting and Smart Alerts apps, AI
drills down into the facility's power data to pinpoint actionable
opportunities for productivity improvements and energy cost
savings."
ABB's Open Innovation program engages incubators, accelerators,
innovation centers and start-ups in the co-development and design
of innovative new digital solutions and business models. The
company is building an ecosystem of innovation partners to work on
digital energy management services for applications that range from
smart buildings to e-mobility. The collaborations help start-ups to
develop services that can be marketed directly to ABB customers via
its Digital Marketplace; the innovation strategy also enables ABB
customers to benefit from cutting-edge digital technologies much
sooner.
ABB Ability™ Energy Forecasting uses AI to
give facility managers accurate power consumption predictions.
Energy Forecasting enables them to take timely action to reduce
unplanned consumption spikes by re-scheduling or switching off
non-critical loads – and taking full advantage of Time of Use (TOU)
tariffs.
The Energy Forecasting AI uses neural network methods to
identify and learn patterns in a circuit or a building's energy
consumption, while also factoring in weather data. Using weather
forecasts and historical data, Energy Forecasting is then able to
predict power consumption (kW) for the next 24 hours, updating its
forecast every 15 minutes with best-in-class accuracy.
"This innovative digital service makes it easy to take the
necessary corrective actions to minimize any peak demand charges,"
said Temporiti. "The precision of the forecasting reduces hedging
positions, narrows variability and produces meaningful energy cost
savings for commercial and industrial buildings."
ABB Ability™ Intelligent Alerts uses machine
learning to help customers better manage critical assets.
Intelligent Alerts learns how various factors affect the building
and key assets so that it can minimize the distraction of false
alerts and information overload, allowing facility teams to focus
their time more productively. Intelligent Alerts also identifies
the relevant circuits and makes potential recommendations to ensure
any response can be swift and decisive.
Thomas Chung, Head of Product
Strategy at Verdigris said: "Verdigris AI is 10 times more
effective than traditional energy management methods. Our
partnership with ABB enables our AI capabilities to reach a
significantly larger ecosystem of ABB users. These energy and asset
management tools will cut through the noise to deliver actionable
insights, identify real energy savings and make resource allocation
more effective."
Energy Forecasting and Intelligent Alerts are available now to
subscribe on the ABB Digital Marketplace. Further developments by
ABB and Verdigris are planned.
ABB (NYSE: ABB) is a technology leader that is driving
the digital transformation of industries. With a history of
innovation spanning more than 130 years, ABB has four
customer-focused, globally leading businesses: Electrification,
Industrial Automation, Motion, and Robotics & Discrete
Automation, supported by the ABB Ability™ digital platform. ABB's
Power Grids business will be divested to Hitachi in 2020. ABB
operates in more than 100 countries with about 147,000 employees.
www.abb.com
Verdigris Technologies is a leading AI company based
in historic NASA research park in Silicon Valley, California with offices in the US and
Taiwan. They are a privately held
company backed by prominent venture capitalists and have developed
several award-winning products for commercial and industrial energy
management. www.verdigris.co
For more information
please contact:
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Natalie
Hodges
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ABB
Ltd
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Media Relations
Manager
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Affolternstrasse
44
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Electrification
business
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8050
Zurich
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Phone: +41 (0)43 317
54 04
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Switzerland
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E-Mail:
natalie.hodges@ch.abb.com
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Melissa
London
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U.S. Media
Relations
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Electrification
business
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Phone: +1 919-649
6581
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melissa.london@us.abb.com
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SOURCE ABB