Original article can be found here (source): artificial intelligence
AI-powered personalization supports energy transition to zero carbon and mass electrification
Bidgely today announced it has deployed its UtilityAI Platform with energy retailers in Europe to directly support them on their journey through the zero carbon energy transition. IDC Energy Insights defines this energy transition as the process of decarbonizing energy production while electrifying energy consumption, with key drivers coming from consumers through distributed energy resources, like solar PV and batteries, as well as electric vehicles. Through new utilization of applied artificial intelligence (AI) for customer data, energy retailers, together with Bidgely, are creating new opportunities to tailor services to each individual customer through personalized energy profiles. Personalization not only creates loyalty, reduces cost-to-serve and generates new revenue but also unlocks a deep understanding of personal consumption to enable carbon neutrality – all while ensuring GDPR compliance with customers.
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“In an energy landscape where it will likely be cheaper for consumers in Europe to generate and store their own electricity within just three years, Bidgely works closely with energy retailer customers to be sure they remain at the forefront of the energy transition and not left behind. Personalizing customer experiences will not only benefit energy customers but also generate business and environmental value through higher customer retention, new revenue creation, better energy awareness and a faster path to zero carbon,” said Jean-François Segalotto, associate research director, IDC Energy Insights.
IDC found in Europe that only about 20 percent of consumers think their energy retailer knows their needs and preferences; less than 30 percent receive a personalized experience; and only 10 percent of customers globally are satisfied with the amount, relevance and timeliness of the information they receive(1). To address these perceptions, Slovakia’s leading utility, Východoslovenská energetika a.s. (VSE), has engaged Bidgely to layer on personalization to their modern approach to customer relationship-building and for soft-selling highly-targeted energy efficient products and services. Another Bidgely customer in Spain has quickly integrated AI-powered personalized experiences into their existing digital communication channels using the Bidgely application programming interface (API).
“Given the highly competitive market, many energy retailers in Europe have embraced the digital realm with digital-first brand strategies to remain top-of-mind with customers,” commented Bidgely CEO Abhay Gupta. “We bring new options for customers to integrate our AI-powered personalization tools right into their own applications and customer communication channels through our API. Whether the requirement is to enhance customer engagement through existing communication channels (mobile app, web portal, emails, SMS) or to improve cost-to-serve with plug-ins to internal applications (CRM, Call Center applications), our API solution is making it easy and cost effective to harness AI benefits rapidly.”
In addition to API solutions, Bidgely partners with leading utility meter innovators like Itron to accelerate the use of valuable advanced metering infrastructure (AMI) data for global customers, including both electricity and gas retailers. With Bidgely pre-integrated, European Itron customers can have quick access to appliance-level energy usage data for their customers that can be used to encourage energy efficiency, drive customer engagement and more.
For more information about Bidgely UtilityAI™ solutions for Europe and to learn how Bidgely helps energy retailers collect data consent by showcasing data’s value to customers, visit: go.bidgely.com/GDPR-Primer.
To request access to the Bidgely UtilityAI™ demonstration portal and experience the full range of AI-powered personalization benefits, such as enhanced customer engagement and program targeting, visit: go.bidgely.com/demo-portal-request. Or to join the industry’s premier UtilityAI event, Bidgely Engage, taking place in September 2020 in Chicago, where attendees will take a deep dive into how utilities and energy retailers are using artificial intelligence to drive results and future-proof their businesses, visit: go.bidgely.com/engage.
Bidgely is an AI-powered SaaS Company that enables utilities to create greater business value and accelerate our path towards zero carbon by delivering personalized customer experience. Powered by our unique patented technology, Bidgely’s UtilityAI™ Platform transforms multiple dimensions of customer data – such as energy consumption, demographic, and interactions – into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From smart thermostats to EV chargers, solar PVs or personalized / ToU tariffs, UtilityAI™ recommends new value-added products and services to the right customer at the right time. With roots in Silicon Valley, Bidgely has over 14 energy patents, $50M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.
(1) IDC Guest Blog Post, Building the Digital Energy Retailer: Lessons From IDC’s Worldwide Utilities 2020 Predictions, January 2020