Wednesday 19 May 2021 - 5:38:19 am

Artificial Intelligence is key to sustainable economy, boosting global GDP by US$5.2 trillion


ABU DHABI, 23rd December, 2019 (WAM) -- Artificial Intelligence, AI, will be a key enabling technology in achieving renewable energy and sustainability targets, according to a report, "Artificial Intelligence: Transforming the Future of Energy and Sustainability," released today, ahead of January’s 2020 World Future Energy Summit.

The report is based on a comprehensive literature review of AI’s predicted impact – compiled from almost 70 separate reports from consultants, journal articles, news articles and analysis, and government documents.

At the Abu Dhabi Sustainability Week’s anchor conference, the Future Sustainability Summit, running on 14th and 15th January, 2020, a major topic will be how advances in AI, Big Data, and the Internet of Things can accelerate sustainable development.

While the focus of most business investments in AI is mainly to generate new revenue or cut operational costs, sources included in the World Future Energy Summit report identified sustainability gains as often going hand in hand with financial benefits. Importantly, AI helps to answer the question of how to reduce our environmental impact, while at the same time maintaining economic growth.

Dr. Alexander Ritschel, Head of Technology at Masdar, said, "AI can support applications such as battery storage which help integrate variable power sources such as wind and solar more effectively into our electricity grids. Virtual power plants running on AI algorithms are emerging and can improve energy access and electricity trading. Solutions such as autonomous driving are transforming the mobility sector thanks to the use of AI. AI also promises major advances in energy efficiency by making our cities in particular much more responsive to the way we consume power."

Dr Ritschel added, "The World Future Energy Summit provides an unparalleled global platform to examine the full impact of AI on sustainable development and to participate in this rapidly emerging sector."

Smart cities that leverage emerging technologies such as AI can transform industry verticals and resident experiences, and also enhance cyber resilience for critical national infrastructure.

The entire report is available on https://www.worldfutureenergysummit.com/wfes-insights/new-artificial-intelligence-report.

The World Future Energy Summit, hosted by Masdar as part of Abu Dhabi Sustainability Week, a global platform for accelerating the world’s sustainable development, will be held at the Abu Dhabi National Exhibition Centre from 13th to 16th January, 2020.

 

WAM/MOHD AAMIR