Advanced AI for Energy Trading
AI plays an undeniable role in finance by improving the reliability of price trend forecasting. However, when dealing with energy trading - where financial trends depend on many factors such as weather conditions, stock market fluctuations and even geopolitical events - the need for reliable tools to deal with that level of complexity is even higher.
To truly seize the energy trading market, it's essential to understand its two key areas:
- The Commodity Market: focused on raw materials required for electricity generation
- The Energy Market: where the buying and selling of electricity takes place
These two interconnected markets are highly intricate, making AI-based predictive tools far more effective than traditional statistical ones.
A pioneering collaboration
Axyon AI's partnership with Enel started with a pilot project in 2019 and has since evolved into a solid collaboration.
Axyon AI develops and applies systematic and quantitative AI-based research, which Enel can immediately implement within its operational framework.
More specifically, Axyon AI provides advanced analytical tools through continuous interaction, starting with AI-generated forecasts of expected market trends. These forecasts will serve as one of the foundations upon which Enel's traders can base their final decisions to minimise risks and maximise profits.
One of the things that makes this partnership even more remarkable is based in the fact that it's a two-way collaboration:
“The expertise that Enel has acquired in a highly specialised field such as energy contracts is key to improving the operational and application aspects of our product,” says our co-founder Giacomo Barigazzi, involved with this collaboration since day one. “Our goal is to make our cooperation with Enel increasingly broader and more productive for both parties. And everything suggests that it will be just that.”
About Enel
Enel is an Italian energy company and one of the leading integrated global operators in the electricity and gas sectors.
The partnership with Enel was managed by the Enel Open Innovability® team, whose mission is to empower global solvers to co-innovate with them by building new solutions that address the world's most pressing and complex challenges. Connected to all Business Lines in the Enel Group, Enel Open Innovability® innovation managers constantly seek new business opportunities to identify the brightest solutions.
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