However, industry players warn that momentum could stall, with financial and geopolitical concerns bringing competing priorities.
“The biggest constraint is resources for any country, especially in a very geopolitically tense world where every country is prioritising spending on defence,” said Himanshu Gupta, co-founder and CEO of ClimateAi, a firm which uses AI to help clients manage climate-related risks.
AI itself is also contributing to the energy demand. It needs powerful processors to train and run, with data centres requiring constant power and generating immense heat. Both the computing and the cooling processes guzzle massive amounts of electricity.
Still, experts said there is increased commitment to rebalance the global energy mix, with more funding flowing into sustainable systems, especially in Asia.
China, the world’s leading producer of clean technologies, has also made the green transition cheaper and more accessible.
“It’s a shifting landscape for sustainability, climate and energy. We’re not stopping on energy transition because … we need to leave (future generations) with the right kind of resources,” said Agnes Tai, director of Great Glory Investment Corporation, a Hong Kong-based family office focused on sustainability.
AI RIVALRY AND ADOPTION
Discussions surrounding AI are also centred on moving beyond theory and towards real-world implementation across sectors including healthcare and manufacturing.
According to a recent WEF report, just 45 per cent of chief economists surveyed expect AI to become commercially disruptive this year.
One major roadblock is the shortage of workers equipped with the skills to work with AI.
However, experts said challenges stand in the way of widening and deepening adoption.
Despite falling costs, AI systems are not yet widely embedded across industries.
Source: CNA
