Benefits of Forecaster
Storage ProvidersAggregate and dispatch stored solar power for both industrial and residential operators during peak load times, increasing grid reliability and reducing costs.
Equipment ProvidersControl edge devices for proper voltage and frequency and grid matching, dynamically adapting to demand changes for optimal power distribution.
Independent OperatorsISOs (Independent System Operators), DSOs (Distributer System Operators), LSEs (Load Services Entities) and EMS providers (Energy Management System) - aggregate, buy and sell green energy on energy exchanges based on real-time intelligent predictions of utility grid energy needs.
Utility CompaniesUse real-time price, supply, and demand data to predict and buy/sell energy supply with other providers, for maximum profitability and ideal grid utilization.
Energy Forecasting for a Changing Industry
We are witnessing the decarbonization, democratization, decentralization and digitization of the energy industry, and with it unpredictable and less reliable green energy sources, new forms of energy storage, and energy supply and demand imbalances that impact customer satisfaction and company profitability.
Veritone harnesses the power of AI to revolutionize today’s energy ecosystems through proprietary, intelligent, near-real-time energy forecasting, helping you deliver the right type and amount of clean energy to the right device, at the right time and the right price.
Forecast energy needs and prices in real time
AI-powered Forecaster generates highly accurate energy price forecasts using historical and near real time data modeling of predicted power demand.
Forecaster models consider multiple weather variables to produce the best performing forecast, then uses that forecast to predict demand and price for the short, medium and long term. These models dynamically adjust to changing climate conditions – for example a heat wave will cause higher air conditioning usage at peak hours – and learns over time to get smarter with its predictions using auto-retraining and adaptation.
Forecast energy demand using AI that takes advantage of multi-variable models that consider cloud density at different elevations, humidity, temperature, wind, and other factors.
Optimized price forecasting
Optimizer uses mulitple energy demand forecast models to dynamically set the right price for that energy, generating long, medium, and short term price and load forecasts based on historical and real-time data.
Auto-retraining and adaptation
Automatically learn over time and improve your demand and price forecasting with Optimizer’s auto-retraining and adaption feature, which adjusts to changes in weather, supply and demand, and price.
Complex, Near-Real Time Decision Making
Veritone’s patented Cooperative Distributed Inference (CDI) technology performs complex, near-real time decision making around forecasting, optimization and device control. CDI is capable of handling vast amounts of heterogeneous and distributed information containing millions of variables and hundreds of thousands of constraints. CDI also learns over time, blending adaptive learning with business rules composition.
What Users Say
The power of Veritone’s cutting edge AI solutions allows utilities to rapidly integrate new sources of energy with the confidence of knowing their infrastructure is optimized for cost, reliability, and longevity.