Energy companies' investment in data analytics start-ups has soared, with mergers and acquisitions in the sector surging to $3.5bn in Q2 2017 from $500m in Q1, according to a study by accounting firm BDO. H1 2017 M&A deals totalled 14, compared with 15 in the whole of 2016. "In these uncertain times, energy businesses... look to artificial intelligence and big data to improve energy forecasts," the report noted. The rise of AI is also helping companies like Google and Facebook make sense out of their data.
Energy companies' investment in data analytics start-ups has soared, with mergers and acquisitions in the sector surging to $3.5bn in Q2 2017 from $500m in Q1, according to a study by accounting firm BDO. H1 2017 M&A deals totalled 14, compared with 15 in the whole of 2016. "In these uncertain times, energy businesses... look to artificial intelligence and big data to improve energy forecasts," the report noted. In separate data from GTM Research, utilities have invested $3bn in grid-edge start-ups, including Aggreko's $52m acquisition of Younicos and Enel’s purchase of EnerNOC and Demand Energy.