The radical shift in resources to generate electricity, evolving uses of distribution systems, societal expectations, consumer demand for clean energy, and changing markets are driving the need for major capital investments in the electric grid. At AEP, we are making these investments to create a smarter, more sophisticated system, providing universal access to cleaner, cost-effective power, and tailored energy solutions.
Technology advancements in analytics are making things possible today that were unimaginable not so long ago. At AEP, we are using these advancements to reinvent what it means to be modern energy company.
We are using data and analytics to solve problems, optimize processes and discover new business opportunities. As we continue to improve data management across AEP, we will be able to expand our use of analytics. Already, we have completed several initiatives that provide monitoring, prediction and optimization capabilities that did not previously exist. These efforts are enabling us to enhance safety, reliability and customer value.
As we learn and advance our expertise in this space, we are using data analytics and artificial intelligence to make recommendations to our customers based on their preferences identified through their interactions with us. Currently, our customer interactions are largely transactional, such as paying a bill or turning power on and off. Having this new functionality gives us more information to target our offerings to meet customer expectations. Learn more about how we are leveraging analytics to improve the customer experience in the Customer Engagement section.