The Electric Power Company of Montenegro (EPCG) and the Montenegrin Academy of Sciences and Arts (CANU) have formalized a new donor agreement, continuing their successful collaboration on the joint initiative for the Application of Artificial Intelligence in Consumption Prediction within Electric Power Systems.

This agreement was signed by EPCG’s Executive Director, Ivan Bulatović, and CANU’s President, Ljubiša Stanković, during a ceremony held at the Academy’s premises.

“The donation, totaling 15 thousand euros, is dedicated to further enhancing research activities that leverage artificial intelligence’s potential to boost the efficiency of Montenegro’s power system,” stated EPCG in a press release.

The project has already demonstrated outstanding results in its initial phase, surpassing early expectations by aiding more precise consumption forecasting, production optimization, and increased system reliability.

Bulatović expressed that EPCG strongly backs initiatives that merge scientific research with practical application, especially those employing innovative technologies like artificial intelligence.

“This project not only provides tangible benefits to our power system but also fosters the growth of the domestic scientific community. We are committed to investing in knowledge, research, and young talent, seeing this as essential for sustainable development,” remarked Bulatović.

The funds from this donation will be utilized to continue employing young researchers, develop and assess new technological solutions, and enhance the technical capabilities of the ENEKO Center for Research and Development.

The next phase of the project plans to advance the existing model by incorporating additional data and scenarios, implementing new solutions for even more accurate consumption forecasting.

A significant focus will be placed on engaging young researchers and facilitating knowledge exchange with both domestic and international experts, contributing even more significantly to strengthening Montenegro’s scientific research community.

According to its representatives, EPCG remains dedicated to the advancement and application of modern technologies aimed at improving energy efficiency, digitalization, and system modernization in line with sustainable development principles.

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