How Artificial Intelligence Is Powering a New Industrial Boom

Core Insights - Concerns about artificial intelligence (AI) impacting jobs are rising, but the energy industry views AI positively, with 20% of energy companies already utilizing the technology and a majority of executives believing it enhances operations [1] Group 1: AI Adoption in the Energy Sector - A report by ADNOC and Microsoft indicates that 87% of surveyed companies are increasing their spending on AI and digital infrastructure, with 20% using agentic AI for complex decision-making [2] - The energy sector is expected to see a significant rise in demand due to AI, necessitating immediate action to ensure a reliable, affordable, and sustainable energy supply [4] Group 2: Global Perspectives on AI - Survey results show strong support for AI in China and India, with all Chinese respondents and 92% of Indian respondents viewing it as beneficial; positive attitudes are also noted in Australia (87%) and Japan (87%), while the U.S. stands at 83% [3] Group 3: Energy Consumption and Infrastructure Challenges - The report highlights that global data centers currently consume about 1.5% of the world's electricity, which could double by 2030, representing 10% of total global electricity demand growth, thus requiring new generation and better asset utilization [5] - There are concerns regarding the environmental impact of AI's energy consumption, prompting a focus on securing baseload power generation capacity, although some industry experts argue that AI can facilitate the energy transition by optimizing grid operations and improving power generation [5][6]