How data science & AI have evolved the Electric Vehicle industry
At a time, when electrification of mass transportation is being hailed as a solution for reducing global greenhouse-gas emissions and dependence on unsustainable energy sources, significant focus is being laid on increasing the efficiency of electric vehicles to encourage and accelerate more use of EVs. In this direction, the role of Artificial Intelligence (AI) and data science is being explored to provide optimal electric vehicle services.
The concept of electric vehicles (EVs) is not widely accepted yet and in many developing countries like India, the deployment of EVs is in a nascent stage. The concept of electric charging stations has just started taking shape, with some progress made in big metros. Under this developing scenario, the EV industry can perform better operations than expected by leveraging data science and AI technology. Statiq being a leading electric vehicle charging station provider of India is leveraging the power of science to
How AI is helping the evolving EV industry
Innovative technologies, like AI, are unlocking the potential for consumers as well as electric vehicle manufacturers on how they can experience and deliver a seamless experience respectively. For instance, AI is helping electric vehicle users to exert greater control over how they use electricity, besides improving battery performance.
Apart from that, AI can also help in easing EV electricity demand and the pilot use of this technology has already been done to coordinate EV charging in Ottawa during peak electricity demand.
The role of data science
Here are a few ways in which data science and data analysis techniques can be leveraged in optimising the use of EVs:
- Predictive analysis for maintenance
By combining the power of predictive analysis and data intelligence, AI and data science technologies are disrupting the EV battery technology space. This tech integration aims at achieving high battery efficiency and operational reliability. The predictive analysis tools are already being leveraged by EV makers, OEMs, battery pack manufacturers, and electric fleet managers.
- Unlocking EV demand through analytics
With data analytics rapidly entering the fields of transportation, IT, energy, and security, among others, leveraging data holds the true potential to unlock the EV demand. This analysis of real-world data is helping in better understanding of mapping charging networks and optimising transportation networks. In addition to that, the stakeholders can improve their decision-making and reduce the rate of risk by analysing and interpreting EV market fluctuations and statistics.
- Data science and smart grid tech
A smart grid is an electricity network based on digital technology that is used to supply electricity to consumers via two-way digital communication. In the EV set-up, the smart grid or super grid is an effective solution to meet the power demand and reduce carbon emissions. The data collected from sensors and in-built trackers are helping in estimating customer behaviour analysis, demand forecasting, and energy generation optimization.
The projected growth of the EVs industry & new technologies steering this growth
According to a study, 60% of industries today are leveraging AI & data science technologies to map their EV’s performance test results. With the increasing popularity and demand for EVs, integrating technology can transform the transportation and automotive industry through tracking, analysing, and evaluating the EV’s demographical data.
The growing demand and usage of electric vehicles are surpassing the sales of traditional automakers building internal combustion engines (ICEs). Considering this growing trend, the future prospect of EVs is expected to occupy 51% of the market share by 2030.
Also read, Future Prospects of EV Adoption in India