A new study, published by the World Economic Forum, posits that “artificial intelligence (AI) can be used to accelerate a more equitable energy transition and build trust for the technology throughout the industry”.
Written in collaboration with BloombergNEF and the German Energy Agency, Deutsche Energie-Agentur (dena) – Harnessing Artificial Intelligence to Accelerate the Energy Transition reviews the state of play of AI adoption in the energy sector, identifies high-priority applications of AI in the energy transition and offers a road map and practical recommendations for the energy and AI industries to maximize AI’s benefits. According to the report, AI could create substantial value for the global energy transition. BNEF’s net-zero scenario modelling shows that every 1% of additional efficiency in demand creates $1.3 trillion in value between 2020 and 2050 due to reduced investment needs. AI could achieve this by enabling greater energy efficiency and flexing demand.
Roberto Bocca, head of energy, World Economic Forum, said: “AI is already making its mark on many parts of society and the economy. In energy, we are only seeing the beginning of what AI can do to speed up the transition to the low-emissions, ultra-efficient and interconnected energy systems we need tomorrow. “This report shows the potential and what it will take to unlock it – guided by principles that span how to govern, design and enable responsible use of AI in energy. Governments and companies can collectively create a real tipping point in using AI for a faster […]
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