This interview is part of our new AI in Energy series, where we interview the world's top thought leaders on the front lines of the intersections between AI and energy.
In this interview, we speak with Jason Kram, Executive Vice President at Adapt2 Solutions, to understand how his company is using AI to transform energy, and what the future of the energy industry holds.
1. What's the story behind Adapt2? Why and how did you begin?
JK: Ten years ago, if an energy company operated in ten different ISO (independent system operator) markets, they had ten separate installations to monitor and track that market. Addressing the gap in the marketplace for ISO connectivity in a single operating system, Adapt2 Solutions was founded to streamline market communications for energy market participants on one platform for all ISOs — in North America and globally.
2. Please describe your use case and how Adapt2 uses artificial intelligence:
JK: Using leading-edge technology like AI, market participants can “Adapt 2” rapid market changes and anticipate new bidding strategies by connecting back office analytics to front office trading — enabling intelligent trading strategies across multiple ISO markets.
Consider a trading and marketing company like DTE, Exelon, or Vistra, which participate in nearly all markets in North America and generate massive amounts of market data. By using predictive analytics and correlations analyzed through Adapt2‘s AI and machine learning solutions, that data is turned into digestible insights to improve productivity and cut costs enabling energy companies to create a smarter (and a more streamlined) energy operation by letting back-office lessons shape front-office decisions, ultimately maximizing energy assets.
3. Could you share a specific customer/user that benefits from what you offer? What has Adapt2 done for them?
JK: A Midwest utility company was using multiple solutions for front and back-office operations that made the company operate within silos, creating a slow decision-making process in an environment where energy traders need to move fast.
By replacing multiple user interfaces with one single platform, their data became more centralized, providing a better view of tomorrow and better trading strategies with current, relevant, and timely back-office insights. With Adapt2’s AI-enabled solutions, we can help energy companies streamline front and back-office functions to manage the many complexities of contracting, operating, interfacing, and settling energy generation all within a single platform.