The fusion of artificial intelligence and energy will boost the global economy, says Dr. Sultan Al Jaber

According to Cop28 chairman Dr Sultan Al Jaber, the combination of artificial intelligence and the energy sector has the potential to unlock significant economic and social value around the world.

“They are interdependent and I don’t think they can ever be separated,” said Dr. Al Jaber, Minister of Industry and Advanced Technology, speaking on the Tools and Weapons podcast with Microsoft vice president and president Brad Smith.

Artificial intelligence is already impacting the demand side, increasing efficiency and consumption patterns. On the supply side, the technology can make power grids smarter through predictive analytics, Dr. Sultan said.

AI applications can facilitate the seamless integration of renewable energy and other energy sources.

By applying the latest technologies such as machine learning, energy management systems and digital twins to energy-intensive processes, stakeholders can significantly improve productivity and reduce emissions, Dr Al Jaber said.

“At Adnoc, for example, we are already doing this… we are already using artificial intelligence and were able to reduce our emissions by one million tonnes in just 2023… of course we can do much more.”

Dr Al Jaber said that combining artificial intelligence and the energy industry will build a “bridge to a low-carbon, high-growth future.”

“I truly believe that we will be able to unleash the greatest opportunities and socio-economic development since the first industrial revolution… we see the integration of artificial intelligence and energy as a new, truly game-changing economic opportunity in which we will continue to invest,” he added. explained.

A unique investment opportunity

Demand from the artificial intelligence sector creates a “unique investment opportunity” to develop a new energy system, Dr Al Jaber said.

The UAE sees this as an opportunity to cultivate more partnerships, and the Arab nation is currently exploring new investment opportunities in renewable energy projects around the world.

“Our goal is to make more green electrons available for transformative AI development around the world… we started the energy transition very early (as) we continue to invest in reducing carbon emissions from our current energy system, while we have started investing in low-energy technologies – carbon solutions and renewable energy.”

In 2021, the UAE announced the Net Zero 2050 strategic initiative, a Dh600 billion plan to invest in clean and renewable energy sources over the next three decades.

It was the first Gulf country to commit to achieving net zero emissions by 2050.

A clear mandate from the leadership of the United Arab Emirates

Dr Al Jaber said his mandate at Adnoc focused on three main areas: first, transforming Adnoc into the most advanced, progressive global energy company; second, decarbonize Adnoc and help it become the lowest carbon energy producer; and third, future-proofing the company by adopting the latest low-emission solutions and technologies.

“Throughout our transformation journey at Adnoc, we have discovered that AI can play a key role in helping us deliver on our mandate.”

Dr Al Jaber said there are three megatrends that will shape the future of humanity in the next 10 years. These include the transformative development of artificial intelligence, the energy transition and the development of emerging markets as the global South becomes more important.

“I think if we integrate the AI ​​and energy sectors more effectively, we can reduce emissions while ensuring sustainable development and prosperity by driving social and economic value everywhere,” he added.

Updated: June 22, 2024, 6:37 am