VIA CEO, Colin Gounden, recently joined FutureTech podcast host, Juliet Lemar, for a conversation about how VIA uses artificial intelligence and blockchain solutions to support the energy industry’s $100 billion a year efforts to maintain, upgrade, and improve energy infrastructure.
The US electric grid is one of the most complex man-made systems ever created. And at over 100 years old, its age has become a major liability for a nation dependent on electricity. Colin said, “When the internet goes out, it’s like going back to 1979. But if electricity goes out, it’s like going back to 1879.” Aging energy infrastructure carries an extremely high risk of failure that can result in power outages. VIA works specifically with electric utilities to help them predict and prioritize this risk.
“We’re at a moment in time when there’s a lot of pent up demand for improving and investing in infrastructure. Utilities can’t update all their equipment at once, so they want to know ‘Where do I start? How do I decide which transformer or transmission tower to replace first?’” Colin elaborated. Using VIA’s AI and blockchain solutions utilities are able to prioritize this risk, making the process of maintaining and upgrading infrastructure more efficient, safe, and cost-effective. Listen to the full podcast here.