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Embracing AI is critical to a sustainable and prosperous energy future, say ADIPEC speakers and industry leaders
- Day two concludes, as technology, energy and finance leaders explore pathways for increased collaboration to drive the energy transition
- New AI Zone highlights the intersection of energy and AI at the AI conference and exhibition, showcasing innovative solutions for a secure, equitable and sustainable energy future
- Experts debate AI’s role in boosting efficiency, enhancing resilience and unlocking investment, while addressing the balance between AI’s potential and its environmental impact
ABU DHABI, UAE, Nov. 5, 2024 /PRNewswire/ — The potential of Artificial Intelligence (AI) to transform the energy industry and accelerate decarbonisation has emerged as a critical topic of conversation amongst energy ministers and business leaders, as was made clear at the world’s largest energy event, ADIPEC 2024.
On the opening day of ADIPEC, His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, emphasised the critical need for industry leaders to come together and support era-defining breakthroughs such as AI.
The emphasis on AI’s game-changing impact reflects a wider sense of optimism across the energy industry, as the government leaders and business executives attending ADIPEC 2024 were united in the belief that AI can fast-track the energy transition and unlock new avenues for progress and prosperity.
In a session titled “The power of AI for the energy transition”, top executives from the private sector – including Tayba Al Hashemi, CEO, ADNOC Offshore, ADIPEC 2024 Chairperson; Michel Lutz, Chief Data Officer and Digital Factory Head of Data & AI, TotalEnergies; and Magzhan Kenesbai, Acting MD, AIQ – explored how AI is transforming business operations, and offered their expert insights on the long-term implications of wide-scale AI implementation.
Speaking to his company’s experience with AI, Michel Lutz, Chief Data Officer and Digital Factory Head of Data & AI, TotalEnergies, stated: “We are using AI to improve operational efficiency, which supports our company’s development in the renewables space. This allows us to better assist our clients in understanding their behaviour and what they need.”
Building on this sustained focus on AI’s role in the energy industry, speakers across ADIPEC’s ten different conferences emphasised the pressing need to address the challenges and opportunities surrounding this transformative technology. Alongside other top CEOs and energy executives, Tengku Muhammad Taufik, President & Group CEO, PETRONAS, urged industry players to adopt a measured and holistic approach to AI:
“Before we perfect artificial intelligence, we need to address fundamental issues. AI can initiate either a virtuous or vicious cycle, depending on how we utilise this technology and how we feed it. While AI consumes a significant amount of energy and its production requires vast resources, it nonetheless helps economies and societies grow. It is up to us to respond wisely to the fork in the road ahead.”
Anima Anandkumar, Bren Professor of Computing and Mathematical Sciences, Caltech, also contributed to these critical conversations, highlighting the evolving impact of AI on both the energy industry and the environment:
“We should consider not just the energy reduction achieved using AI, but also the time and money saved by employing these AI models. AI is helping us take corrective action in response to natural disasters and other climate-related issues, and the more data we have available, the better our AI models will become. The impact that AI can have in designing from scratch and creating simulations enhances our work in energy and technology.”
ADIPEC’s commitment to accelerating AI-enabled energy solutions and projects was reflected in the event’s inaugural AI Zone, which featured AI studios and demo pods that showcased transformative solutions from leading energy and AI businesses. This dynamic space provided attendees with a comprehensive view of the innovations shaping the future energy system.
The space also played host to the dedicated AI Conference, where leaders from the energy, technology, and government sectors worked together to develop a strategic roadmap for integrating AI into the energy landscape.
The AI conference featured several Innovation Showcases throughout the day, where tech giants and energy majors presented their latest breakthroughs and projects in the field of AI. Participants included Neeraj Joshi, Worldwide CTO of Energy & Resources, Microsoft; Aniruddha Sharma, Chair and CEO, Carbon Clean; Dr. Mike Roshchin, Head of AI, AIQ; and Ali Al Zaabi, acting CEO of AYP/ADP, ADNOC.
The newly launched Digitalisation & Technology Conference delved into how next-generation technologies, including AI, can unlock decarbonisation and efficiency opportunities presented by Industry 4.0. Sessions covered advancements in new materials, the Industrial Internet of Things (IIoT), and carbon capture, utilisation, and storage (CCUS), with a focus on sustainable scaling of these technologies.
In the exhibition halls, companies demonstrated their latest AI-enhanced hardware and energy equipment. Attendees explored innovative products and services designed to reduce emissions, improve energy efficiency, and accelerate the transition to cleaner energy sources.
As ADIPEC 2024 moves into its third day, the event continues to serve as a global platform for driving innovation, collaboration, and sustainable progress in the energy transition. With its unique blend of strategic insights and technological showcases, ADIPEC remains the premier forum for addressing the complex challenges of creating a low-carbon, high-growth future for the global energy sector.
About ADIPEC
Under the patronage of H.H. Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by ADNOC in Abu Dhabi, UAE, on 4-7 November 2024, ADIPEC is the world’s largest energy conference and exhibition.
Building on 40 years of energy leadership, ADIPEC 2024 will enable innovation and accelerate action, exploring the intersection of energy and AI to drive the transition and deliver global impact.
The ADIPEC Conferences will comprise of 10 conferences and 370+ conference sessions, featuring 1,800+ speakers, including ministers, CEOs, academics, energy experts and youth. These diverse voices – united under this year’s theme “Connecting Minds. Transforming Energy.” – will be invited to consider how collaborative energy innovation can empower lives and drive global prosperity.
The ADIPEC Exhibition, spanning 16 halls, will feature 2,200+ exhibitors including 54 NOCs, IOCs, NECs and IECs, 30 country pavilions, and four specialised industry areas focused on decarbonisation, digitalisation, maritime and logistics, and AI. The exhibition will provide a platform for the energy world to demonstrate its game-changing solutions and forge the cross-sector partnerships needed to deliver secure, equitable and sustainable energy for all.
For more information, visit www.adipec.com
To register as media, visit https://www.adipec.com/press-media/media-registration/
About ADNOC
ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximise the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification. To find out more, visit: www.adnoc.ae
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Xinhua Silk Road: Conference on deepening financial openness and co-op in Northeast Asia held in NE. China’s Shenyang
BEIJING, Dec. 27, 2024 /PRNewswire/ — The 2nd Northeast Asia Finance Conference and 2024 “Revitalizing Liaoning with Finance” Excellent Cases Release kicked off on Tuesday in Shenyang, capital of northeast China’s Liaoning Province, aiming to further deepen financial openness and cooperation in the Northeast Asian region and advance construction of a regional financial center.
The main forum held a series of activities, including an opening ceremony, two round-table dialogues on “finance + biomedical industry” and “finance + cultural industry”, a symposium for foreign financial institutions, a seminar on innovative development of financial clusters, a forum on development of technology and finance, a forum on industrial low-carbon transformation and financial innovation, as well as an enterprise project roadshow and industry-finance matchmaking event.
During the conference themed on “accelerating the construction of a regional financial center in Northeast Asia and creating a new highland for opening up”, excellent cases of revitalizing Liaoning through finance in 2024 were unveiled and the index for core areas of regional financial centers in northeast China was released.
The conference also held an unveiling ceremony for the upgrading of the Shenyang finance and trade development zone to a national-level development zone, and a launch ceremony of a platform for Shenyang industrial insights and decision analysis.
The conference was co-hosted by China Economic Information Service, Liaoning Branch of Xinhua News Agency, Shenhe District People’s Government, Shenyang local financial administration under guidance of Shenyang Municipal People’s Government and Liaoning local financial supervision and administration bureau.
Original link: https://en.imsilkroad.com/p/343777.html
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VILNIUS, Lithuania, Dec. 27, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the launch of ALTCOIN Index, the first futures trading pair involving top altcoins. This innovative trading product offers users a one-click solution to efficiently track and trade major cryptocurrency trends with ease.
Traditionally used in stock markets, a futures index is a financial derivative that tracks the performance of a group of assets, such as stocks of commodities. These instruments were first introduced to simplify trading by allowing investors to speculate on or hedge against the collective movements of selected market sectors. Instead of purchasing individual stocks, traders are able to access broad market exposure in a single transaction, saving time and reducing costs.
In the cryptocurrency market, this new ALTCOIN/USDT futures trading pair works similarly by bundling the performance of the top mainstream cryptocurrencies by market capitalization, excluding Bitcoin (BTC) and stablecoins. The current index includes ETH, XRP, SOL, BNB, DOGE, ADA, TRX, AVAX, and SHIB. This approach is more efficient compared to buying individual cryptocurrencies or ETFs as this allows for direct speculation using tiered leverage options without the need to manage multiple positions, effectively diversifying trading risks associated with individual asset volatility.
Vivien Lin, Chief Product Officer of BingX, commented on the new offering: “By aggregating a range of leading cryptocurrencies into a single trading instrument, we’re giving users a practical and efficient way to better capture market trends. This index trading pair should help our less experienced users with their trading goals more easily, particularly when they are unsure which asset to trade and just want to trade major altcoins in general with leverage.”
BingX users can take advantage of tiered leverage options and competitive rates consistent with the platform’s perpetual futures terms, simplifying open order management and enhancing trading efficiency. The platform also ensures that the index composition remains current, with regular quarterly adjustments and temporary updates in response to market conditions.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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SINGAPORE, Dec. 27, 2024 /PRNewswire/ — Nodepay, a decentralized AI platform transforming unused internet bandwidth into real-time data pipelines for AI training, today announced it has raised a second round of funding, bringing its total to $7 million.
The latest funding round welcomed new strategic investors IDG Capital ($23 Billion AUM), Mythos, Elevate Ventures, IBC, Optic Capital, Funders.VC, Matthew Tan (Etherscan founder) and Yusho Liu (CoinHako Co-founder & CEO) as notable angels. They join an impressive roster of previous backers that includes Animoca Brands, Mirana, OKX Ventures, JUMP Crypto, Tokenbay Capital and more.
Nodepay’s network taps into a global community of users running privacy-protected nodes. By sharing their spare internet bandwidth, these participants earn rewards for creating a real-time data source that improves AI inference with accurate, timely information—an approach known as Retrieval Augmented Generation (RAG).
Darren Nguyen, co-founder of Nodepay commented: “Our mission is to develop solutions that create tangible value for both AI developers and its end users. We give contributors a share in the AI ecosystem they help fundamentally build.”
Nodepay’s infrastructure platform integrates real-time data retrieval, a Web3-focused decentralized answer engine, reinforcement learning for more accurate model output, and gamified human verification. Together, these components combine to create a fair, collaborative, and innovative AI ecosystem.
Eric Le, investment director of IDG Capital, said, “The team at Nodepay is democratizing the AI economy by providing a platform that allows users to share directly in the value they create. We’re proud to support their vision of making AI more accessible and beneficial to all.”
With this funding, Nodepay will continue to commercialize its infrastructure to benefit both its community and partner AI labs. As it prepares to launch on Solana, Nodepay stands ready to lead the next era of decentralized AI development and training.
Already serving over 1.5 million active users worldwide, Nodepay continues to expand its reach, solidifying its role as a leader in the integration of AI and blockchain technology. Users can expect further updates and new announcements through their social channels and official website.
About Nodepay
Nodepay is a decentralized AI platform dedicated to democratizing AI training through real-time data retrieval. By turning idle internet bandwidth into a valuable resource, Nodepay fuels the next generation of AI models and stands at the forefront of AI decentralization.
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