Climate change is ticking away, with only 3 years left before a 1.5 degree rise in temperature. The Lancet Countdown report reveals we’ve already experienced an average of 46 more days of health-threatening heat than expected without climate change. Economic damages from extreme weather are projected to increase by $38 billion in 2024.
Businesses must adapt to reduce emissions and implement circular transition strategies. Digital technologies, such as industrial AI, offer immense leverage for achieving resource efficiency and decarbonisation.
Industrial AI-powered digital technologies have the potential to save up to 30% of emissions in manufacturing and cut CO2 by 24%. Siemens, a leading industry player, has seen significant waste reduction and energy savings through its use of industrial AI.
Other examples include:
* A Dutch power grid using autonomous AI-powered management to improve utilisation by 30%
* Additive manufacturing reducing CO2 emissions by up to 90% in glass manufacturing
* Data centre efficiency increased to 1.2 using building management software and energy management software
Cross-sector collaboration is key to further entrenching the mindset of circularity. Companies like Siemens have successfully partnered with other stakeholders to close waste-landfill loops and reduce emissions.
Organisations must adopt an innovation mindset and genuine love for the planet to create value through digital technologies and ecosystems. Without these innovations, achieving climate action will be challenging.
Source: https://www.thehindubusinessline.com/opinion/can-technology-act-as-a-catalyst-to-a-just-climate-transition/article70308051.ece