#AIEye: #AI and #Technology
Aiding In Environmental Sustainability and Better Energy Saving; (NYSE: $ABB)
(TSXV: $MCLD.V) (NASDAQ: $MRVL) (NASDAQ: $RAVN)
Point
Roberts, WA and Vancouver, BC - April 11, 2019 (Investorideas.com Newswire) Investorideas.com, a global investor
news source covering Artificial Intelligence (AI) brings you a sector
closeup looking at how AI will play a significant role in energy
consumption and environmental sustainability.
Read this in full
at
As
global population increases and the rate of industrialization across the
developing world accelerates, the problems of energy efficiency and climate
change loom ominously. One thing that may be able to keep externalities caused
by urbanization in check, are emerging technologies like artificial
intelligence. A recent report from Technavio for instance,
projects that global AI in the energy market will grow by $6.06 billion USD
from 2019-2023. An analysis from Frost
& Sullivan
highlights some of the benefits of this trend. In the analysis, Swagath Navin
Manohar, Research Analyst, Energy & Environment, outlines how AI can reduce
energy waste in electricity and other sectors by providing better consumption
data:
"In addition to making the electricity system
intelligent and flexible, AI algorithms help utilities and energy companies
understand and optimize consumer behavior and manage energy consumption across
different sectors. Meanwhile, complex machine learning algorithms combined with
real-time weather data from satellites, ground-based observation, and climate
models can be used to forecast the electricity generated by RES like wind,
solar, and ocean."
Multinational
automation company ABB Ltd. (NYSE:ABB) is already
putting some of these ideas into practice with their Industrial AI Accelerator
program, aimed at supporting startups using AI to solve industrial challenges.
The co-founder of one of those startups (Greenlytics), Sebastian Haglund El Gaidi, explained how working with ABB makes it possible to leverage AI in
the service of a more efficient power grid:
“The conversations
with ABB helped us realize the different areas where we can combine our
capabilities and create technological synergies. Collaborating with ABB will
help further develop our vision of tomorrow’s increasingly renewable,
distributed and smarter grid. We already learned a lot about not only the
technology but also the potential market and customer needs – and that is
really important for a startup, especially in a B2B context.”
An
article on The
Next Web
emphasizes the role AI has in identifying patterns in energy consumption data
that can be used to better regulate how scarce resources like electricity can
be distributed. The piece quotes Henrik Brink, the founder of Ento Labs, a
company fighting climate change with artificial intelligence:
“Energy efficiency
is the only really direct way of lowering emissions. And according to our
initial research, there’s a huge opportunity for lowering emissions. There’s so
many low hanging fruits of companies and industries that can be optimized a
lot.”
A
company applying this insight in a big way is Universal mCloud Corp. (OTC:MCLDF) (TSXV:MCLD), whose AssetCare
platform combines AI with IoT and cloud computing technology and has found
application in various markets. A key recent development has been the announcement
that AssetCare connectivity has been established for the Heiwado Shopping
Center in Changsha, Hunan Province, China. Done in collaboration with mCloud
partner SCN Ltd., this will see management of the mall’s stores’ HVAC systems
using AI and analytics, which will deliver ongoing energy savings, curbing the
costly 41 percent of energy currently used by Heiwado for heating and cooling.
Furthermore,
mCloud collaborates with Britwind, an affiliate of UK’s Ecotricity, to apply
AssetCare analytics to improve wind turbine availability and extend the health
of wind turbines in Europe and China, and mcloud is also collaborating with
Fulcrum Automation Technologies on a plan to target at least 200 oil and gas
assets as part of a greater strategy to access thousands of field assets in
North America and the Middle East.
Semiconductor
manufacturer Marvell Technology Group Ltd. (NasdaqGS:MRVL) last year demonstrated its AI
SSD Controller powered by Deep Learning Accelerator technology from NVIDIA. The
related press
release
stresses the cost-saving features of the tech via “improving efficiency,
reducing power consumption, maximizing scalability and optimizing distribution
of resources,” Noam Mizrahi,
VP of Technology and Architecture at Marvell, said:
“Our advanced AI
SSD controller proof of concept solution sets a new paradigm in utilizing
available system resources more efficiently, resulting in the scalable,
cost-effective data storage expected for all kinds of machine learning
tasks."
Raven
Industries, Inc. (NasdaqGS:RAVN) reduces operating costs and
improves yields using precision agriculture technology. Last year, the company partnered with Dot
Technology Corp., an autonomous agriculture platform leader, to “power the autonomous farming
solutions of the future”. The Raven tech-based DOT Power Platform
“completes tasks autonomously and enables farmers to spend more of their time
focusing on the overall operation of their farms.”
So
though greater industrialization across the globe creates challenges to energy
consumption and environmental sustainability, it also seems to be yielding the very
technologies, such as AI and automation that are required to assuage them.
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