Latest news with #transformers
Bloomberg
2 days ago
- Business
- Bloomberg
How a Shortage of Transformers Threatens Electricity Supply
To slash emissions fast, the formula is simple: electrify everything and clean up the grid. But in practice, progress is slowed by all sorts of bottlenecks — from arcane permitting processes to sky-high electricity costs. This week on Zero, Akshat Rathi sits down with producer Oscar Boyd to spotlight a surprising culprit slowing the transition: a global shortage of transformers, and why it has industry insiders so worried. This episode kicks off Bottlenecks, a new series exploring the lesser known obstacles standing in the way of our net-zero future. Listen now, and subscribe on Apple, Spotify, or YouTube to get new episodes of Zero every Thursday.
Geeky Gadgets
4 days ago
- Business
- Geeky Gadgets
Forecast Anything with Transformers with Chronos or PatchTST
What if you could predict the future—not just in abstract terms, but with actionable precision? From forecasting energy demand to anticipating retail trends, the ability to make accurate predictions has become a cornerstone of modern decision-making. Enter transformer-based models, a new advancement originally designed for natural language processing but now transforming time-series forecasting. Among these, Chronos and PatchTST have emerged as standout tools, offering unparalleled accuracy and adaptability for even the most complex datasets. Whether you're grappling with noisy healthcare data or modeling long-term climate trends, these models promise to redefine what's possible in predictive analytics. In this exploration, Trelis Research explains how transformers like Chronos and PatchTST are reshaping the forecasting landscape. We'll delve into their unique architectures, such as self-attention mechanisms and data segmentation into 'patches,' that allow them to capture intricate patterns and long-range dependencies with ease. Along the way, you'll discover their real-world applications across industries like finance, energy, and healthcare, and learn why their scalability and precision make them indispensable tools for tackling today's forecasting challenges. By the end, you might just see forecasting not as a daunting task, but as an opportunity to unlock new possibilities. Transformer Models for Forecasting What Makes Transformer-Based Models Ideal for Forecasting? Originally developed for natural language processing, transformers have demonstrated remarkable versatility in time-series forecasting. Unlike traditional statistical methods or recurrent neural networks, transformers process entire sequences simultaneously, allowing them to capture long-range dependencies in data. This unique capability allows them to handle complex datasets with greater speed and accuracy. From financial metrics to environmental data, transformers excel at identifying patterns and trends, making them a preferred choice for modern forecasting tasks. Their adaptability is another key strength. Transformers can be fine-tuned to suit various datasets and forecasting objectives, making sure optimal performance across industries. This flexibility, combined with their ability to process high-dimensional data efficiently, positions transformers as a fantastic force in predictive analytics. Chronos: A Flexible and Scalable Forecasting Model Chronos is a transformer-based model specifically designed to simplify forecasting across multiple domains. Its architecture uses self-attention mechanisms to detect intricate patterns and trends in time-series data. This makes Chronos particularly effective in scenarios where understanding complex temporal relationships is critical, such as stock market analysis, supply chain optimization, or energy demand forecasting. One of Chronos's standout features is its scalability. By incorporating advanced feature engineering and efficient training processes, Chronos maintains high performance even when working with large and complex datasets. This scalability ensures that the model remains reliable and accurate, regardless of the size or complexity of the forecasting task. Its ability to adapt to various industries and applications makes it a versatile tool for organizations aiming to enhance their predictive capabilities. Time-Series Forecasting with Chronos and PatchTST: A Complete Guide Watch this video on YouTube. Below are more guides on transformers from our extensive range of articles. PatchTST: A Targeted Approach to Time-Series Data PatchTST adopts a specialized approach to time-series forecasting by dividing data into smaller segments, or 'patches.' This segmentation enables the model to focus on localized patterns within the data before synthesizing broader insights. This method is particularly advantageous when dealing with irregular or noisy datasets, such as those encountered in healthcare or environmental monitoring. The modular design of PatchTST allows for extensive customization, allowing users to tailor the model to specific forecasting tasks. For example, in healthcare, PatchTST can be fine-tuned to monitor patient data and predict health outcomes, even when the data is highly variable. This targeted approach ensures that the model delivers precise and actionable insights, making it a valuable tool for industries that rely on accurate and timely predictions. Real-World Applications of Transformer-Based Forecasting The adaptability and precision of Chronos and PatchTST make them highly valuable across a variety of industries. Key applications include: Energy Management: Predicting electricity demand to optimize grid operations, reduce costs, and improve sustainability. Predicting electricity demand to optimize grid operations, reduce costs, and improve sustainability. Retail: Forecasting sales trends to enhance inventory planning, minimize waste, and improve customer satisfaction. Forecasting sales trends to enhance inventory planning, minimize waste, and improve customer satisfaction. Finance: Analyzing market trends to guide investment strategies, manage risks, and identify opportunities. Analyzing market trends to guide investment strategies, manage risks, and identify opportunities. Healthcare: Monitoring patient data to predict health outcomes, streamline care delivery, and improve resource allocation. Monitoring patient data to predict health outcomes, streamline care delivery, and improve resource allocation. Climate Science: Modeling weather patterns to enhance disaster preparedness, optimize resource management, and support environmental research. These applications highlight the versatility of transformer-based models, demonstrating their ability to address diverse forecasting challenges with precision and efficiency. Why Choose Transformer-Based Models? Transformer-based models offer several distinct advantages over traditional forecasting methods, including: Scalability: Capable of processing large datasets with high dimensionality, making them suitable for complex forecasting tasks. Capable of processing large datasets with high dimensionality, making them suitable for complex forecasting tasks. Accuracy: Superior performance due to their ability to capture long-term dependencies and intricate patterns in data. Superior performance due to their ability to capture long-term dependencies and intricate patterns in data. Flexibility: Adaptable to a wide range of industries and forecasting objectives, making sure relevance across diverse applications. Adaptable to a wide range of industries and forecasting objectives, making sure relevance across diverse applications. Efficiency: Faster training and inference times compared to recurrent models, allowing quicker deployment and results. These advantages make transformers an ideal choice for organizations seeking to enhance their forecasting capabilities and make data-driven decisions with confidence. Industry Adoption and Future Potential Industries worldwide are increasingly adopting transformer-based models like Chronos and PatchTST to address complex forecasting challenges. Examples of their application include: Utility Companies: Using these models to predict energy consumption patterns, optimize grid efficiency, and reduce operational costs. Using these models to predict energy consumption patterns, optimize grid efficiency, and reduce operational costs. Retailers: Using forecasting tools to streamline supply chains, reduce inventory costs, and improve customer satisfaction. Using forecasting tools to streamline supply chains, reduce inventory costs, and improve customer satisfaction. Healthcare Providers: Enhancing patient monitoring and predictive analytics to improve care delivery and resource management. Enhancing patient monitoring and predictive analytics to improve care delivery and resource management. Financial Institutions: Employing these models for market analysis, risk management, and investment strategy development. As transformer-based technologies continue to evolve, their applications are expected to expand further, driving innovation and improving decision-making across sectors. By addressing increasingly complex forecasting needs, these models are poised to play a pivotal role in shaping the future of predictive analytics. Transforming Forecasting with Chronos and PatchTST Chronos and PatchTST exemplify the potential of transformer-based forecasting models to transform predictive analytics. By combining advanced architectures with practical applications, these models empower organizations to forecast with precision, efficiency, and confidence. Whether you're managing resources, optimizing operations, or planning for the future, transformer-based solutions provide a reliable foundation for informed decision-making. Their ability to adapt to diverse industries and challenges ensures that they remain at the forefront of forecasting innovation, allowing you to navigate complex prediction tasks with ease. Media Credit: Trelis Research Filed Under: AI, Guides Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
RNZ News
20-05-2025
- Business
- RNZ News
Meridian Energy to replace five transformers at Manapōuri Power Station
Manapōuri Power Station. Photo: 123rf Meridian Energy will have to replace five transformers at Manapōuri Power Station due to concerns about elevated gassing. In a stock exchange announcement, Meridian said the Southland power station's transformer fleet is currently made up of six transformers from Australia's Wilson Transformer Company (WTC). It initially received seven from WTC in 2015 and 2018, but two were removed in 2023 due to gassing issues. Another WTC transformer was supplied at the end of last year. Meridian said it received independent advice that the five older WTC transformers would likely have similar problems to the two removed from service. Meridian planned to replace the older WTC transformers over the next two-and-a-half years. "We are moving quickly to replace the five transformers supplied by WTC in 2015 and 2018 and are confident this will result in limited to no impact on generation capacity," its general manager for generation, Tania Palmer said. Manapōuri is the largest hydropower station in the country, located at Lake Manapōuri in Fiordland National Park, and primarily supplies electricity to the Tiwai Point aluminium smelter. Meridian said it was "important the company takes swift action". Palmer said the company was "working hard" to ensure there would be no generation impact. The company expects to receive two Indonesian-made transformers early next year. Meridian did not outline any financial impact, but said it was in "discussions with WTC on a resolution". "At the current time a resolution has not been reached," it said. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Zawya
20-05-2025
- Business
- Zawya
Hyosung and Hitachi in race for Bahrain's 66kV substation transformer works project
Bahrain's Electricity and Water Authority (EWA) has opened bids for the 66kV Substation Transformer Works package, part of a broader plan to establish new 66kV substations to meet rising electricity demand across the Kingdom. The international limited tender attracted three bids, with offers submitted by South Korea's Hyosung Heavy Industries Corporation, Oman's Voltamp Transformers Oman, and Switzerland's Hitachi Energy. The scope includes the design, manufacturing, supply, transportation, erection, testing, and commissioning of 19 units of 66kV power transformers for the establishment of a new 66kV substation. Hyosung submitted the highest bid at 21.75 million Bahraini dinars ($58 million), followed by Hitachi Energy at BHD 9.48 million ($25 million). Voltamp Transformers Oman offered the lowest bid at BHD 7.31 million ($19 million); however, the bid was marked as suspended. EWA is proceeding with the evaluation of the accepted bids. (Writing by Deva Palanisamy; Editing by Anoop Menon) (
Zawya
15-05-2025
- Business
- Zawya
Oman: Federal transformers and switchgears showcases innovation in power solutions at OPES 2025
Federal Transformers and Switchgears LLC (FTS), a leading Omani manufacturer of power and distribution transformers, proudly announces its participation in the Oman Petroleum & Energy Show (OPES) 2025, taking place at the Oman Convention and Exhibition Centre. As a subsidiary of the Federal Electric Group under The Zubair Corporation, FTS stands at the forefront of precision engineering and sustainable electrification. With a firm commitment to innovation and quality, the company will showcase its advanced portfolio of transformer solutions designed for energy efficiency, safety, and durability across diverse industrial applications. At OPES 2025, FTS will spotlight its state-of-the-art products and services, including conservator and hermetically sealed transformers up to 20 MVA, engineered for performance and longevity; compact, packaged substations tailored for modern grid infrastructure; specialised transformers for solar, oil & gas, and converter duty applications; dry-type cast resin transformers, known for high efficiency and superior fire safety; and end-to-end service solutions, including on-site maintenance, rewinding, oil filtration, and transformer re-engineering. 'Our participation at OPES 2025 reflects our continued drive to support Oman's energy transition with safe, sustainable, and technologically advanced solutions,' said Mickey Patel, General Manager at FTS. He also added that 'we look forward to engaging with industry leaders, partners, and clients to demonstrate how our local manufacturing capabilities contribute to regional growth and energy resilience.' FTS invites visitors to explore its innovations at OPES 2025 to discover how the company powers a brighter, greener future. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
