Artificial Intelligence and Developments in the Electric Power Industry—A Thematic Analysis of Corporate Communications

Abstract

This study investigates the role and impact of artificial intelligence (AI) in the electric power industry through a thematic analysis of corporate communications. As AI technologies proliferate, industries—such as the electric power industry—are undergoing significant transformations. The research problem addressed in this study involves understanding how electric power companies perceive, adopt, and implement AI, as well as the implications of these developments. By employing a qualitative thematic analysis approach, we examined a corpus of corporate communications from innovation leaders, including annual reports and sustainability reports, in the electric power sector. The data spanned 2020 to 2023, capturing a crucial period of AI integration in the industry. Our analysis reveals several key findings. Firstly, there is a clear trend toward increased utilization of AI in various facets of the electric power sector, including grid management, predictive maintenance, and customer service. Companies actively invest in AI technologies to enhance operational efficiency, reduce costs, and improve service quality. Secondly, the corporate discourse has shifted significantly, with companies emphasizing AI’s role in sustainability efforts. Moreover, our analysis identified challenges and concerns associated with AI adoption in the electric power industry. In conclusion, the thematic analysis of corporate communications provides valuable insights into the evolving landscape of AI in the electric power industry. The findings underscore the transformative potential of AI technologies, highlighting opportunities for enhanced efficiency and sustainability. However, they also emphasize addressing challenges to ensure responsible and beneficial AI integration. This study contributes to the growing literature on AI in industries, offering practical implications for electric power companies, policymakers, and stakeholders navigating the AI-driven future of the sector.