AI in energy risk management: use cases and pitfalls
How are energy risk managers using and responding to the use of AI in their firms? Mark Nicholls reports
Few energy risk managers would dispute the tremendous potential of artificial intelligence for energy trading and risk management. A recent report from the Boston Consulting Group calculated that oil and gas companies taking full advantage of AI – for example, having a trading team fully connected to operations and markets and acting on AI-generated information – could deliver an incremental boost to earnings of 30–70% over five years.
Currently though, most energy firms are trying to find a
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