30 October 2024, 07:46
The speed of forecasting increases by 3x, to less than 5 minutes, allowing a 4x increase in the volume of data managed
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Saluzzo (CN), 30 October 2024 – eVISO S.p.A. (simbolo: EVISO) – COMMOD-TECH company, listed on the EGM, with a proprietary artificial intelligence infrastructure that operates in the raw materials sector (electricity, gas, apples) – announces the release of a substantial and significant upgrade of the IT platform.
The upgrade of the IT platform will allow eVISO to manage the activities performed by its artificial intelligence infrastructure more quickly, efficiently and economically. In particular, the upgrade will facilitate the transition from hourly energy data to the use of reading data every 15 minutes, with a consequent four-fold increase in data volume.
Starting from January 2025, the electricity market will move from an hourly purchase typology to a 15-minute purchase modality. The important improvement of the platform is linked to the preparation of the infrastructure for the rapid, effective and efficient management of data every 15 minutes along the energy value chain.
The most significant changes are identified in the image above:
- 4X increase in data managed;
- greater precision thanks to the use of quadrupled data volumes in the operations performed by the algorithms;
- 33X reduction in the machines required;
- 4X reduction in the memory required and contextual 3X reduction in the execution time of the forecasts, so as to bring the forecasting capacity to 5 minutes, below the critical threshold of 15 minutes.
The release of the upgrade allows eVISO to be prepared to significantly increase the number of points served, to release data-driven offers and strategies every 15 minutes and at the same time to maintain diligent control over costs, resulting in improved gross margins thanks to the new efficiencies introduced.
Joao Wemans, Director Data Service Platform, commented: “The international team of developers of eVISO has been working for months with the team managing the energy value chain to significantly and substantially improve the IT platform. I am convinced that the solutions developed have made the eVISO infrastructure more reliable, faster and more competitive. At eVISO we decided to address the challenge of data every 15 minutes as an opportunity to increase the competitive advantage of eVISO, raise the technological barriers to entry for new operators and provide an enabling platform for further developments. Today eVISO is significantly faster, uses a fraction of the machines and occupies a quarter of the memory. In every respect a result beyond expectations.”
Carlo Cigna, Director of the Algo Intelligence department, commented: “The new IT platform has exceeded the expectations required by eVISO’s procurement, billing and forecasting team. In the coming months, internal procedures will be adapted to this new infrastructure with greater power, speed and competitiveness. Here too, eVISO has taken up the challenge launched by the market potential to scale its digital infrastructure to a level ten of times higher than the already high previous level. We are thus ready to handle even rapid market growth.”
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This press release is available in the Investor Relations section of the website www.eviso.ai.
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