SSFT news! This is just the TIP, more meat will continue to come. Easy easy lemon squeezy on this one. Buy and watch account grow over time! https://www.otcmarkets.com/stock/SSFT/news/Sonasofts-SSFT-Artificial-Intelligence-AI-Solution-Wins-POC-Project-with-Large-East-Coast-Electric-Utility-Company?id=243869
Sonasoft’s (SSFT) Artificial Intelligence (AI) Solution Wins POC Project with Large East Coast Electric Utility Company
Press Release | 10/22/2019
San Jose, California, Oct. 22, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Sonasoft Corp. (OTCQB: SSFT), a leader in innovative artificial intelligence (AI) and data management solutions, today announced that it has won a proof of concept (POC) project with Delaware Electric Cooperative for the Company’s artificial intelligence (AI) solution, NuGene. The electric utility company will use Sonasoft’s AI solution to accurately predict peak usage and minimize implementing load control measures. This will allow the utility company to further reduce costs, increase customer satisfaction, and deliver reliable power to its customers.
Sonasoft’s POC will utilize NuGene to tie in accurate real-time weather variables including temperature, humidity, sunlight intensity, wind velocity, atmospheric pressure and storm paths, along with historical data of electric consumption, to accurately forecast electric consumption. This will allow the utility company to accurately predict consumption and to better manage energy usage during peak periods.
According to Bill Andrew, Delaware Electric Cooperative’s President and CEO, “As a progressive utility, DEC is always looking to leverage the most advanced technology to control costs. This partnership with Sonasoft will help our Co-op continue to offer affordable and reliable power to more than 100,000 homes and businesses in Delaware.”
When electric peaks occur, utility companies often implement load control measures that encourage customers to save electricity during peak hours by not running major appliances, turning down their HVAC units, and other immediate measures. Utility companies that have not accurately forecasted surges in electric consumption often find they have to purchase electricity at rates that are extremely expensive just to keep up with the immediate demand. These unexpected costs could cost millions of dollars.
Electric utility companies strive to minimize the number of times to implement load controls to minimize purchases during peak consumption periods. This allows the utility company to be efficient, keep its customers happy, and pass on the savings back to its customers.
“It is very important for electric utility companies to be able to predict their usage especially during peak periods,” said Ankur Dinesh, Sonasoft’s Chief of Artificial Intelligence (AI). “Unlike other AI platforms that require up to 6 months to train and validate their models, NuGene allows any business to leverage AI in just a few weeks.”
Sonasoft’s AI solution NuGene can be applied to any use case, in any industry, with any sort of data. The flexibility of Sonasoft’s approach is the expertise it has in data science, coupled with the unique way NuGene analyzes raw data