Both actually... most smart meters are now smart enough to identify specific appliances, some have raised concerns & published papers showing that they may even be able to determine what TV channel an individual is watching. Power companies of course are also implementing machine learning to gather even more detailed information & behavioral patterns, including identifying patterns & usage of each household member:

https://en.wikipedia.org/wiki/Nonintrusive_load_monitoring

https://ieeexplore.ieee.org/document/9713145