- Artificial Intelligence is expected to both, drive global energy consumption whilst simultaneously, increasing the efficiency of global power usage
- Turbo Energy is seeking to harness artificial intelligence in the manufacture and development of their residential energy solutions, which allow households to capture and store solar energy
- The Company has recently entered into an agreement with Solar360, the energy-focused subsidiary of Repsol and Telefonica, in a move to dramatically increase their distribution footprint
The growing demands of artificial intelligence (“AI”) are set to drive a sharp increase in data center storage capacity, with the latter expected to grow from 10.1 zettabytes (“ZB”) in 2023 to 21.0 ZB in 2027, a five-year compound annual growth rate of 18.5%. Whilst this increased storage capacity is set to drive a huge proliferation in data centers, it will similarly drive a significant surge in energy usage, with data centers forecast to consume over 1% of global electricity in the coming years (https://ibn.fm/G8Vaz). Nonetheless, AI is simultaneously being harnessed to reduce energy expenditure – Google recently revealed that its AI-driven approach to data center cooling had led to a reduction of about 40 percent in energy use, the equivalent to taking 64,000 cars off the road annually.
The use of artificial intelligence is gaining increased relevance in terms of tackling carbon emissions, with recent analysis by global consultants McKinsey suggesting that AI-enhanced manufacturing could reduce global greenhouse gas emissions by 10-20 percent. Similarly, and within the energy sector, the adoption…
NOTE TO INVESTORS: The latest news and updates relating to TURB are available in the company’s newsroom at https://ibn.fm/TURB
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