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Suncor Energy Inc
Symbol SU
Shares Issued 1,285,837,925
Close 2024-05-23 C$ 55.15
Market Cap C$ 70,913,961,564
Recent Sedar Documents

Globe says MEG, rivals hear energy sector harnessing AI

2024-05-24 08:06 ET - In the News

See In the News (C-MEG) MEG Energy Corp

The Globe and Mail reports in its Friday, May 24, edition that artificial intelligence and the energy sector have been joining forces. The Globe's guest columnist David Israelson writes that it is happening in the oil patch, along pipelines, at electric power stations and grids, and in renewables. As AI capabilities expand, companies and institutions in the energy field are finding new ways to use these powerful statistical methods. Delvinia chief executive officer Adam Froman says, "Right off the bat, I can think of three ways in which AI can be used to optimize the energy sector." Delvinia is a Toronto-based digital and research firm that has been investing in AI. Mr. Froman says: "First, it can aid in the production of fuels, including renewables, and in building and maintaining more efficient models to deliver energy to customers. Second, from a market point of view, AI can be used to identify patterns and usage habits of customers to ensure that consumers have ever-more-reliable and cost-effective energy. Finally, AI can be used to monitor the environment: It allows energy companies to be informed and active participants in the efforts to address climate change."

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