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Reading: Harnessing the Power of AI to Achieve Sustainable Development Goals – Rohan Bansal, Investment and Strategy Professional | Oxford MBA | Climate and Sustainability from Oxford, England, United Kingdom
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CORPORATE INVESTMENT TIMES > Blog > 2024 > August 2024 > Harnessing the Power of AI to Achieve Sustainable Development Goals – Rohan Bansal, Investment and Strategy Professional | Oxford MBA | Climate and Sustainability from Oxford, England, United Kingdom
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Harnessing the Power of AI to Achieve Sustainable Development Goals – Rohan Bansal, Investment and Strategy Professional | Oxford MBA | Climate and Sustainability from Oxford, England, United Kingdom

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Last updated: September 6, 2024 10:42 am
Last updated: September 6, 2024 7 Min Read
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Harnessing the Power of AI to Achieve Sustainable Development Goals - Rohan Bansal, Investment and Strategy Professional | Oxford MBA | Climate and Sustainability from Oxford, England, United Kingdom
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In a world where technological marvels and environmental urgency are both rapidly increasing, the need for sustainable solutions has never been more urgent. Imagine a future where artificial intelligence (AI) serves as the linchpin for global efforts to meet the United Nations’ Sustainable Development Goals (SDGs). The relentless march of AI technology presents a unique opportunity to address some of the world’s most pressing challenges, from energy inefficiencies to agricultural sustainability and healthcare accessibility. However, this potential also brings forth ethical dilemmas and labor market upheavals, urging us to find a delicate balance between harnessing AI’s capabilities and mitigating its risks.

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Energy Efficiency in Power Generation and Battery Storage

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In a world where technological marvels and environmental urgency are both rapidly increasing, the need for sustainable solutions has never been more urgent. Imagine a future where artificial intelligence (AI) serves as the linchpin for global efforts to meet the United Nations’ Sustainable Development Goals (SDGs). The relentless march of AI technology presents a unique opportunity to address some of the world’s most pressing challenges, from energy inefficiencies to agricultural sustainability and healthcare accessibility. However, this potential also brings forth ethical dilemmas and labor market upheavals, urging us to find a delicate balance between harnessing AI’s capabilities and mitigating its risks.View Full Article: Download FULL PDF Edition Rohan Bansal is an investment and strategy consultant with extensive experience in private equity, AI-driven industrial solutions, and business development. He holds an MBA from the University of Oxford and a BA in Management Studies from the University of Mumbai. His career highlights include supporting early-stage entrepreneurs, securing significant investment deals, devising and leading innovative AI projects.Rohan has facilitated startup fundraises, developed strategic business models, and contributed to startup growth through his business expertise. Passionate about sustainability and technology, he combines strategic insight with a commitment to impactful and financially viable solutions.View Full Article: Download FULL PDF Edition

One of the most promising areas where AI can significantly contribute is in the realm of energy efficiency, particularly in power generation and battery storage. Traditional power systems often grapple with inefficiencies and wastage, especially in emerging markets where infrastructure might be outdated or underdeveloped.

Harnessing the Power of AI to Achieve Sustainable Development Goals - Rohan Bansal, Investment and Strategy Professional | Oxford MBA | Climate and Sustainability from Oxford, England, United Kingdom

Enter AI, with its sophisticated forecasting and scheduling technologies. For instance, the use of AI algorithms to predict power demand and supply has revolutionized the energy sector. These algorithms analyze historical data and real-time inputs to calibrate energy production precisely, ensuring that the supply meets demand without excess wastage.

Moreover, AI-driven battery storage optimization can manage the energy produced from renewable sources like solar and wind, storing it efficiently and releasing it when needed. This technology not only maximizes the use of green energy but also stabilizes power grids, reducing the reliance on fossil fuels and cutting down carbon emissions.

An example is the implementation of AI by Google to enhance the efficiency of its data centers. By employing DeepMind AI, Google reduced its data center cooling bill by 40%, showcasing a direct application of AI in driving down energy consumption.

Harnessing the Power of AI to Achieve Sustainable Development Goals - Rohan Bansal, Investment and Strategy Professional | Oxford MBA | Climate and Sustainability from Oxford, England, United Kingdom

Transforming Agriculture with AI

Agriculture, the backbone of many economies, especially in developing nations like India, stands to gain immensely from AI advancements. The agricultural sector faces numerous challenges, including unpredictable weather patterns, pest infestations, and supply chain disruptions. AI tools can provide farmers with unprecedented visibility into crop health, yield predictions, and supply chain management. For instance, AI-powered drones and satellite imagery can monitor large swathes of farmland, detecting signs of disease or pest infestation early on, allowing for timely intervention.

Additionally, AI algorithms can predict crop yields and market demand, enabling farmers to make informed decisions about planting and harvesting times, thereby reducing waste and improving food security.

An inspiring example is the use of AI by Precision Agriculture for Development (PAD) in India. PAD leverages AI to send personalized agricultural advice to farmers via mobile phones, helping them increase crop yields and improve livelihoods. This initiative has demonstrated significant success, with participating farmers reporting higher productivity and profitability.

Revolutionizing Healthcare through AI

In the healthcare sector, the digitization of medical records and the proliferation of wearable health devices have generated vast amounts of data. AI’s ability to process and analyze this data can transform healthcare delivery, making it more personalized and efficient.

AI can assist in early diagnosis, treatment recommendations, and even predict disease outbreaks. For instance, IBM’s Watson for Oncology uses AI to analyze patient data and provide evidence-based treatment options for cancer patients. This system not only improves the accuracy of diagnoses but also helps doctors devise more effective treatment plans tailored to individual patients.

Furthermore, AI can enhance the efficiency of healthcare systems by streamlining administrative processes and reducing wait times.

A notable example is the partnership between the UK’s National Health Service (NHS) and the AI company DeepMind. By applying AI to patient data, the NHS aims to improve the detection of acute kidney injury, a condition that is notoriously difficult to diagnose early. This collaboration has the potential to save thousands of lives and exemplifies how AI can revolutionize healthcare.

AI holds the potential to accelerate progress towards achieving Sustainable Development Goals, particularly in energy efficiency, agriculture, and healthcare.

By developing AI’s capabilities centred around foundational challenges in different sectors, we can address these challenges more effectively and create a more sustainable and equitable future. However, this technological advancement must be balanced with ethical considerations and proactive measures to ensure that its benefits are widely distributed, and its risks are mitigated.


Harnessing the Power of AI to Achieve Sustainable Development Goals - Rohan Bansal, Investment and Strategy Professional | Oxford MBA | Climate and Sustainability from Oxford, England, United Kingdom
 
Rohan Bansal is an investment and strategy consultant with extensive experience in private equity, AI-driven industrial solutions, and business development. He holds an MBA from the University of Oxford and a BA in Management Studies from the University of Mumbai. His career highlights include supporting early-stage entrepreneurs, securing significant investment deals, devising and leading innovative AI projects.

Rohan has facilitated startup fundraises, developed strategic business models, and contributed to startup growth through his business expertise. Passionate about sustainability and technology, he combines strategic insight with a commitment to impactful and financially viable solutions.

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