What is AI :
How AI is helping in sustained growth:
AI has become so popular for solving problems, and no doubt it can be used to build a sustainable future.
The trend is expected to continue without any interruption, with a projected growth rate of 38.1% from 2022 to 2030. It will be used to transform virtually all sectors.
We all know that AI has the potential to reduce the dependence on human labor and can process any task with complete accuracy, leading to more judicious use of resources and a reduced environmental footprint.
Artificial Intelligence (AI) is the ally that sustainable development needs to design, execute, advise and to plan the future of our planet and its sustainability more effectively. Technology like AI will help us build more efficiently, use resources sustainably and reduce and manage the waste we generate more effectively, among many other matters. Combining AI with sustainable development will help all industries to design a better planet, addressing current needs without compromising future generations due to climate change or other major challenges. In the following video, we will show you some of the ways in which Artificial Intelligence is already currently being used to create a sustainable world.
1. Environmental Sustainability:
Artificial Intelligence will help the management in agricultural sector, water, energy and transport. In agriculture, AI can improve the monitoring of environmental conditions and can improve crop yields. AI can also manage the supply and demand of renewable energy using deep learning, predictive capabilities, and intelligent grid systems. Finally, AI can help in reducing traffic congestion, can improve the transport of cargo and enable autonomous (or self-driving) cars. This positive impact on the environment somewhat explains the broad harnessing of AI to contribute in managing environmental and global climate change.
2. Energy Conservation and Diversification of Energy Sources:
Real-time data analysis by AI makes it possible to spot energy waste and recommend ways to increase productivity. AI, for instance, can analyze the changing patterns of energy usages in a building and can recommend when to change the lighting and temperature settings in order to save energy.
This not only lowers energy use but also lowers costs for both businesses and homeowners. AI in the energy sector aids in the real-time monitoring of power networks, more precise forecasting of power variations, and the creation of novel geothermal energy-related techniques.
With an estimated growth rate of 50% in the energy sector by 2024, AI proves to be invaluable to the energy industry.
According to research by PwC UK and Microsoft, by 2030, the use of AI for environmental technologies could add up to USD $5.2 trillion to the world economy, an improvement of 4.4% compared to business as usual.
It helps businesses reduce their energy costs while also helping the environment. Some key areas of AI application in energy conservation include:
- Data digitization
- Failure prevention
- Smart forecasting
- Resource management
By analyzing data to find areas where renewable energy sources can be used more effectively, AI can assist in this area. AI, for instance, can examine wind patterns to recommend the best location for wind turbines.
AI can assist in finding new renewable energy sources. For instance, scientists are analyzing satellite data with AI to find potential locations for solar panel installation. This might encourage greater solar energy use and lessen our reliance on fossil fuels.
3. Artificial Intelligence and Sustainable Development Goals:
According to a study published in Nature, AI could help achieve 79 % of the Sustainable Development Goals (SDGs). As we saw in the video, this technology could become a key tool for facilitating a circular economy and building smart cities that use their resources efficiently.
A clear example of AI's contribution to sustainability is traffic management. Applying Artificial Intelligence in urban mobility allows traffic jams to be predicted and alternative routes to be suggested. With shared mobility, this technology predicts vehicle demand by zone and time. This means that companies can organize the availability of vehicles for citizens based on their needs. This solution not only facilitates mobility, but also minimizes its environmental impact.
In parallel the application of AI levers could reduce worldwide greenhouse gas (GHG) emissions by 4% in 2030, an amount equivalent to 2.4 Gt CO2e – equivalent to the 2030 annual emissions of Australia, Canada and Japan combined.
4. Financial sustainability:
The ability of artificial intelligence (AI) to remain financially viable is another advantage. By 2022, 13.91% of financial institutions invested in AI to drive significant business results. Businesses and households can lower their energy costs by using AI to optimize energy use.
AI technology can help firms to encourage fast consumer decision-making and detect fraud and financial crime through machine learning. For example, machine-controlled wealth management services (robot advising) and algorithmic trading are helping financial institutions to optimise monetary decisions; and ‘smart ledger’ technology could support the adoption of collective defined contribution (CDC) schemes.
Here are some ways that AI is being used to help achieve the SDGs:
1. Alleviate Poverty
AI can help identify and forecast patterns of poverty, giving policymakers the information they need to create more potent measures for eradicating it. It can help monitor these programs, record the success of the programs, and ensure resources are being used effectively.
By facilitating access to resources like healthcare and education, AI can combat poverty. AI can assist individuals in escaping or reducing poverty by linking them with the resources they require.
2. Sustainable Economic Growth
AI can help promote sustainable economic growth by identifying new markets and predicting economic trends. Making more educated business decisions and developing more sustainable business models may benefit from this.
3. Reduced Inequalities
By giving underprivileged people access to healthcare and education, AI can aid in the reduction of inequality. AI-powered chatbots can provide medical advice and diagnosis in areas where there are no healthcare professionals. In order to close the achievement gap, AI may also be used to give personalized teaching to students in distant regions.
4. Combating Climate Change
By encouraging environmentally friendly energy use and cutting carbon emissions, AI can aid in the fight against climate change. It can also help identify places where energy can be used more effectively, lowering the overall carbon footprint.
Decision-makers can also use AI to anticipate weather patterns and natural disasters, reducing the consequences of climate change. By 2030, using AI to improve environmental management may cut greenhouse gas emissions, increase global GDP by up to $5 trillion, and generate up to 38 million new jobs.
5. Protecting Biodiversity
By identifying areas where ecosystems are in danger and providing remedies, AI can help with the preservation of biodiversity. Governments may take action by using AI to monitor pollution levels and pinpoint its origins in order to reduce pollution and protect wildlife.
# There are many ways, in addition to those highlighted here, that AI will enable a sustainable future. Companies will transition into more sustainable working practices, requiring workforces with the skills to support these changes. Therefore, we must tackle the future of AI to reap the rewards of a more sustainable future impacting our health, wellbeing and lifestyle.
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