Artificial Intelligence Will Revolutionize Energy, Earning Billions For Investors

As the world is anticipating the end of the COVID-19 pandemic, energy consumption in industry and services is likely to grow. In the longer term, the developing world will increase its energy utilization, leading to growth of global primary energy demand by of 0.4% – 0.6% per year, or a 25% increase by 2050. According to scenarios calculated by energy giant Total SE, massive electrification of transportation will lead to decarbonization, and will require a rapid growth in renewables as a source of electricity.

This energy transformation will see an explosion of growth in Artificial Intelligence (AI) utilization in the sector – up 50% between 2020 and 2024 – to allow smart, 21st century grids to become the gold standard, gradually replacing the “dumb” grids laid down in the late 19th – early 20th century in Europe, North America, Japan, China and beyond.

 

Original post: https://www.forbes.com/sites/arielcohen/2020/11/30/artificial-intelligence-will-revolutionize-energy-earning-billions-for-investors/

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