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ARTICLE · 28 JUNE 2024

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AI Risk Poses Complex Challenges For Asset Management In European Energy And Utilities

Osborne Clarke LLP
Osborne Clarke LLP
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Osborne Clarke LLP

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AI enhances efficiency in the energy and utilities sector but requires high-level governance, clear data strategy, and thorough procurement due diligence. Compliance with EU and UK regulations, especially regarding cybersecurity and risk management, is essential.

United KingdomTechnology
John Buyers
John Buyers
Tom Sharpe
Tom Sharpe
Emily Tombs
Emily Tombs
Thomas Stables
Thomas Stables
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Artificial intelligence (AI) continues to power up every aspect of industry, with the energy and utilities sector no exception. For asset managers, AI can create efficiencies in managing performance, turn data flows into useful insight and support health and safety, as well as being increasingly embedded into everyday enterprise software. With risk management in mind, what are the considerations to be aware of?

High-level governance

A high-level governance strategy around the deployment of AI is sensible, not only to ensure legal risk is mapped and mitigated, but also because it can be used in such a broad range of applications, some of which can have ethical, reputational or security implications.

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