We continue our journey of exploring uses of generative artificial intelligence in areas throughout the utility - in operations and finance. The AI revolution is transforming the way we look at basic tasks and expanding our horizons when it comes to how the utility business is managed.

There is much discussion about artificial intelligence in various industries and its potential to replace human jobs and positions. Taking a broader perspective, it becomes clear that applications of artificial intelligence in the electric industry are primarily focused on enhanced data utilization for grid management, customer service, system maintenance, and planning.

Artificial intelligence (AI) tools are increasingly becoming integral to the operations of finance and accounting offices. These tools are revolutionizing how financial data is processed, analyzed, and utilized, leading to significant improvements in efficiency, accuracy, and decision-making.

Embracing AI will make it possible to maximize efficiencies in the accounting and finance departments, open up team members for other tasks, and provide the tools for deeper analysis of customer use of electricity. The depth of AI data analysis will provide additional tools to directly design rates that can modify customer behavior in their electricity use and with choices on how they use electricity.

This article provides a very high-level view of areas used in the accounting and rates functions of power and utilities organizations. The list will undoubtedly grow.