Artificial Intelligence and Digitalization in Energy Markets: A Comprehensive Review of Optimization, Risk Management, Blockchain Integration, and the Electric Vehicle Landscape

This paper analyzes the considerable impact of artificial intelligence (AI) and digitalization on energy markets and trading systems, as well as the expanding electric vehicle (EV) industry and its challenges. As the complexity of energy systems increases due to the incorporation of renewable energy, distributed generation (DG), and evolving regulations, traditional market models struggle to adapt. This evaluation examines how AI and digital technologies can enhance energy generation, distribution, and consumption across various applications, including improved forecasting, grid management, market organization, risk assessment, and automated trading. The research integrates findings related to AI-driven market improvement, risk evaluation, and relationships with blockchain, the Internet of Things (IoT), and smart grids. The analysis also explores the potential effects of cryptocurrency mining on the energy industry, in both beneficial and detrimental ways. It examines global innovations in this field and specifically addresses the impacts of Monte Carlo simulation (MCS). Charts and factual investigations are examined, indicating potential avenues for future investigation. It emphasizes the opportunities and challenges that AI and digitalization present for the energy industry, highlighting the need to address information security, regulatory compliance, and ethical issues to advance a sustainable and resilient energy future.