Harnessing big data analytics, AI will boost Nigeria’s energy industry — Expert

A financial data science expert and changemaker, Peter Oluleke, has emphasised the crucial role of big data analytics and artificial intelligence (AI) in addressing the challenges of climate change.

He made this known during his engagement with the newsmen in Lagos, stressing that these advanced technologies can provide innovative solutions for transitioning to sustainable energy systems.

Oluleke highlighted that AI can fundamentally transform the energy sector by optimising energy production and consumption, improving efficiency, and reducing environmental impacts.

“By leveraging AI’s capabilities, organisations can analyse vast amounts of data to identify patterns and insights that drive more sustainable practices, enhance resource management, and support the shift towards renewable energy sources.

“The integration of big data and AI presents a powerful strategy for combating climate change, enabling the energy sector to become more efficient, sustainable, and environmentally friendly.

“Consider the role of big data and AI in forecasting renewable energy availability. By meticulously analysing historical data and complex weather patterns, AI models can predict energy output with remarkable accuracy.

“This enhanced foresight is instrumental in ensuring grid stability. It allows us to integrate renewable energy sources more effectively into the existing infrastructure, preventing disruptions and maximising the utilisation of these valuable resources,” he added.

The IT guru noted that the energy sector generates a staggering amount of data—a treasure trove of information waiting to be unlocked, adding, “Big data analytics empowers stakeholders to extract valuable insights from this vast ocean of data. Imagine being able to optimise energy generation in real-time, streamline operations with pinpoint precision, and even engage customers in a more meaningful way as we collectively transition towards a sustainable energy future. Big data analytics makes all of this possible.”

He stated that the benefits of AI extend beyond renewable energy and that AI technologies can optimise processes across various industries, leading to reduced energy consumption and more sustainable practices.

“From intelligent manufacturing practices to smart building management systems, AI has the potential to revolutionise the way we utilise energy, paving the way for a future where environmental responsibility and economic growth go hand-in-hand.

“Smart metres, demand-response-enabled appliances, and connected homes are testaments to the transformative power of AI and big data. These advancements not only enhance the customer experience by providing greater control and transparency over energy usage but also unlock new business models for energy providers, fostering a more dynamic and sustainable energy marketplace.

“The potential of AI and big data is further underscored by compelling research. IRENA studies indicate that these technologies can improve renewable energy forecasting by up to 35%. A French startup uses AI to optimise building heating and cooling, saving up to 40% on utility bills.

“In Japan, GE improved wind turbine efficiency with AI, reducing maintenance costs by 20% and increasing power output by 5%. McKinsey’s Utility saved 10–25% on maintenance costs through predictive maintenance. Deloitte’s research shows that big data can enhance wind turbine performance by 15%, significantly boosting energy production. These figures demonstrate how AI and big data can revolutionise the path to a sustainable energy future,” he added.

Oluleke noted that, despite the toughest challenges facing the industry, AI and big data offer immense potential and are not without obstacles.

“Our current energy infrastructure and regulatory frameworks must evolve to fully leverage these advancements. We need to invest in the digitisation of energy systems, ensure robust cybersecurity measures, and foster collaboration between technology developers, energy providers, and policymakers.

“The journey towards a sustainable energy future is not a solitary pursuit. It necessitates a collective commitment from individuals, businesses, and policymakers alike.

“By embracing AI and big data analytics, investing in research and development of renewable energy technologies, and fostering a culture of environmental responsibility, we can collectively illuminate the path towards a brighter tomorrow,” he added.

He said that AI and big data analytics are not simply technological advancements but cornerstones of a sustainable energy future. By harnessing their immense potential and forging a resolute path towards renewable energy, we can create a world powered by clean, abundant energy sources.

“This transition demands not only cutting-edge technology but also an unwavering commitment to innovation, collaboration, and environmental stewardship. Let us rise to the challenge and collectively write a new chapter in the story of our planet, one where sustainability is not a distant aspiration but a tangible reality,” he added.