Power system protection and asset management present persistent
technical challenges, particularly in the context of the smart grid and
renewable energy sectors. This paper aims to address these challenges by
providing a comprehensive assessment of machine learning applications
for effective asset management in power systems. The study focuses on
the increasing demand for energy production while maintaining
environmental sustainability and efficiency. By harnessing the power of
modern technologies such as Artificial Intelligence (AI), machine
learning (ML), and Deep Learning (DL), this research explores how ML
techniques can be leveraged as powerful tools for the power industry. By
showcasing practical applications and success stories, this paper
demonstrates the growing acceptance of machine learning as a significant
technology for current and future business needs in the power sector.
Additionally, the study examines the barriers and difficulties of
large-scale ML deployment in practical settings while exploring
potential opportunities for these tactics. Through this overview, we
provide insights into the transformative potential of ML in shaping the
future of power system asset management.