Artificial Intelligence
Envision Digital Launches First Edition of EnView Study, Which Details that Way Forward to Create Flexible Grids for a Net-zero Carbon Future
Envision Digital International Pte Ltd (“Envision Digital”), a global green tech and Artificial Intelligence of Things (AIoT) technology leader, is today publishing the first edition of “EnView”, the “point of view” of the Paris Smart Grid and Digital Grid competency centre on solving today’s sustainability challenges.
The EnView study concludes that if the electrification of energy and generation of green electricity is the clear path to decarbonisation in the short and medium-term, it also poses challenging issues to the energy system and notably to the power grids. However, technology can reconcile “green” and “growth”. Supported by the right systemic design and implementation fuelled by ongoing adoption of innovation, EnView even concludes that “green can fuel growth”.
Key findings and insights from the EnView study include:
- Electrification is progressing fast with the adoption of electric heating and electromobility, as well as electrification of industrial processes. One million electric cars were sold in the world during the first half of 2020, (reaching 3.5 percent of global sales, out of which only 30 percent are hybrid), of which 400,000 are in Europe (reaching 6.7 percent of new car sales and 47 percent of hybrid), and 364,000 are in China (5 percent penetration with 20 percent hybrid). Heating is accounting for 40 percent of electrification in France, even if the rest of the world is still catching up (for instance Germany has only 5 percent electric heating).
- Electricity is becoming greener and more renewable. In the US, residential photovoltaic (PV) capacity grew by more than 2,000 percent in the past 10 years, and wind power capacity in Europe increased by 27 percent between 2018 and 2019. In the past two decades, renewable power generation went from 18 percent to 26 percent of the global electricity mix, and it is expected to exceed 45 percent by 2040. As a comparison, Denmark’s renewable electricity mix, which mainly relies on wind, already consisted of 60 percent renewables in 2018. This is great news, as unlike fossil fuels, green electricity follows a clear “Moore’s law”, and is becoming more affordable, reinforcing its ability to power the development of nations and facilitate access to electricity, globally. Levelized costs of electricity (LCOE) for utility-scale solar PV has already dropped by 82 percent between 2000 and 2019, and by 39 percent for onshore wind.
- However, if the energy transition is only focusing on green power generation, major challenges will hit traditional transmission and distribution grids. Grid costs will increase further beyond the current situation (grid costs already represent around 40 percent of electricity bills in many countries). Maintaining in real-time the balance between electricity supply and demand will become more challenging because of the intrinsic intermittent and non-controllable nature of wind and solar generation. Without proper solutions, this intermittency will lead to periods of negative electricity prices (producers are penalised for injecting electricity into the grid), and even to blackouts that can only be avoided by emergency measures. Such situations were recently faced in the UK when renewables’ share reached 70 percent as demand dropped, creating significant real-time balance challenges that could only be addressed by the emergency activation of schedulable plant curtailment.
In addition to the intermittency challenge, renewables are also turning some of the classic power generation concepts upside down, as classic energy customers (be they corporations or consumers) become producers for their own needs, for communities they have formed, or even for injecting electricity into the broader market. In Europe, household generation of electricity is expected to grow by ~1,800 percent by 2050, compared to 2015. This production is hard to predict and not controllable by the grid operators. Customers can take themselves suddenly “off the grid” and create a drop in demand or decide to inject when it may not be needed. This uncertainty is reinforced by the new electric vehicle (EV) charging behaviours that are only now establishing themselves and, thus, have not been historically witnessed and modelled over long periods of time.
In this context of intermittency and uncertainty, power grids risk becoming the bottleneck that slow down energy transition.
Technology is the way forward. Not only to “reconcile green and growth”, but to also ensure that “green fuels growth”. Smart electricity storage systems are profiting from reduced battery costs. With the cost of battery electricity storage systems (BESS) falling by 87 percent over the last 10 years and reaching $156/kWh in 2019, they can provide precious buffers in the system. However, they will not be enough to ensure a balance on their own. Smart technologies to ensure real-time supply, demand and storage management at various geographic and time levels are needed to support a permanent balance. CE Delft estimates that by 2050, about 83 percent of European households will provide demand response and energy storage. This requires data transparency (in conformity with data privacy regulations), powerful artificial intelligence optimisation “brains”, as well as reactive and resilient Internet of Things (IoT) control capabilities, at scale.
Overall system orchestration, across generation, transmission, distribution, storage and consumption of electricity, from real-time to long-term time horizons, from simple households to communities, regions, countries and continents, is only made possible by a digital platform combining Artificial Intelligence (AI) and IoT. AIoT technology is an enabler of virtual power plants that can deliver well-orchestrated microgrid or grid services.
To realise the benefits of these “smart” technologies and actually deliver the necessary flexibility, the whole framework needs to be adapted – from regulations, market mechanisms, flexibility compensation schemes down to data sharing rules. Existing flexibility mechanisms (such as capacity reserves markets in Europe) are reaching their limits as the share of renewable generation increases. Only a systemic approach to adjust the system can address this new reality.
To access the full EnView whitepaper, please visit: https://envision-digital.com/whitepaper-enview/
LONDON, May 1, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT; CLVT PR A) (“Clarivate”), a leading global provider of transformative intelligence, today announced that its board of directors declared a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares (the “Preferred Shares”), payable in cash on June 3, 2024 to shareholders of record at the close of business on May 15, 2024.
On the mandatory conversion date, which is scheduled to occur on June 3, 2024, each Preferred Share will automatically and mandatorily convert into a number of ordinary shares of Clarivate (and cash in lieu of any fractional ordinary shares) based on the average volume weighted average price (“VWAP”) of Clarivate’s ordinary shares over a 30-trading day period that begins on, and includes, April 18, 2024 and is scheduled to end on, and include, May 30, 2024 (the “valuation period”). If such VWAP is (i) greater than $31.20, then the mandatory conversion rate will be 3.2052 ordinary shares of Clarivate per Preferred Share, (ii) less than or equal to $31.20 but equal to or greater than $26.00, then the mandatory conversion rate will be a number of ordinary shares of Clarivate per Preferred Share equal to $100.00 divided by such VWAP and (iii) less than $26.00, then the mandatory conversion rate will be 3.8462 ordinary shares of Clarivate per Preferred Share. The mandatory conversion rate will be announced following the end of the valuation period. The above description of the terms of the Preferred Shares is not complete and is subject to, and qualified in its entirety by reference to, the “Statement of Rights” for the Preferred Shares, which is filed as Exhibit 3.2 to Clarivate’s annual report on Form 10-K for the fiscal year ended December 31, 2023.
Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future business, events, trends, contingencies, financial performance, or financial condition, appear at various places in this communication and may use words like “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “see,” “seek,” “should,” “strategy,” “strive,” “target,” “will,” and “would” and similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include those factors discussed under the caption “Risk Factors” in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission (“SEC”). However, those factors should not be considered to be a complete statement of all potential risks and uncertainties. Additional risks and uncertainties not known to us or that we currently deem immaterial may also adversely affect our business operations. Forward-looking statements are based only on information currently available to our management and speak only as of the date of this communication. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by securities and other applicable laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.
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BEIJING, May 1, 2024 /PRNewswire/ — Focusing on the development of AI, the third CMG Forum was held on Monday in Beijing.
Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and the head of the Publicity Department of the CPC Central Committee, attended the opening of the event and delivered a speech.
Guests at the forum stressed the role of media in promoting the innovative application of AI as well as its governance.
Efforts should also be made to boost the development of AI in creating positive, healthy, diverse and high-quality content, so that AI can become a force for good and benefit mankind, they agreed.
They also called on media to accelerate intelligent transformation and help bridge international exchanges and cooperation on the governance of AI to facilitate its healthy, orderly and safe development.
Hosted by China Media Group (CMG), the forum attracted more than 200 participants from international organizations, media, think tanks and multinational companies.
“Innovation and breakthroughs in science and technology not only guide the development and progress of human civilization, but also bring uncertainty to the changing world,” said Shen Haixiong, vice minister of the Publicity Department of the CPC Central Committee and president of CMG. He called for efforts to jointly create valuable and responsible artificial intelligence.
AI technology is affecting every aspect of our lives. Thomas Bach, president of the International Olympic Committee (IOC), stated in a video speech that CMG has always been a partner of the IOC, bringing the charm of the Olympic Games to hundreds of millions of Chinese viewers. He said the IOC invites CMG to work together for the creation of a future with the application of AI in Olympic sports.
“From ancient inventions such as silk, printing and the compass to modern technological advances such as robotics, telecommunications and green technology, China has always been committed to innovation and creation,” said Daren Tang, director general of the World Intellectual Property Organization (WIPO). He said WIPO pays close attention to ensuring a balance between the opportunities and risks of artificial intelligence and is committed to strengthening cooperation to ensure that artificial intelligence is properly used.
https://news.cgtn.com/news/2024-04-30/3rd-CMG-Forum-in-Beijing-discusses-AI-development-1tdDcXvCexG/p.html
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Artificial Intelligence
Trianz Appoints Sridhar Kannan as Practice Leader – Digital, Elevating its Leadership in the Global Digital Transformation Space
SANTA CLARA, Calif., May 1, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Sridhar Kannan as Practice Leader – Digital. With over 25 years of extensive experience in technology and business leadership, Sridhar joins Trianz to lead the expansion of Trianz’s Digital Practice, forging strategic alliances and expanding the business footprint.
Sridhar’s appointment comes at a transformative phase for Trianz as it solidifies its commitment to redefining the digital landscape with an “IP Led” model. This strategic shift is powered by Trianz’s cutting-edge hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace. Sridhar’s visionary leadership in technology-led business transformations across diverse sectors will be instrumental in leveraging IP-led models and innovative methodologies to position Trianz at the forefront of digital transformation.
“We are thrilled to welcome Sridhar Kannan to the Trianz family,” said Seshi Vanguru, Chief Revenue Officer at Trianz. “His appointment marks a significant stride in Trianz’s journey toward innovation and excellence. Sridhar’s wealth of experience and exceptional leadership skills will elevate our Digital Practice to new heights, reaffirming our commitment to delivering exceptional value to our clients.”
Sridhar is recognized as a client-focused technology and business transformation executive with a remarkable track record of helping Banking and Financial Services organizations in business transformation and product innovation using applications, cloud, data, and digital solutions. His extensive prior experience at industry giants such as Wipro, Cognizant, and Infosys include successfully leading Fortune 10 global client relationships and implementing transformative solutions across Banking, Financial Services, and Healthcare industries. Sridhar is highly regarded for his ability to lead global cross-functional teams, foster collaboration, and achieve aggressive business goals while consistently delivering high levels of client satisfaction.
“I am deeply honored to join Trianz and contribute to its mission of shaping the future through digital transformation,” said Sridhar. “Together, we will push the boundaries of what’s possible and drive meaningful impact for our clients in this rapidly evolving digital landscape.”
Based out of Minnesota, US, Sridhar has steered numerous clients towards success through the strategic application of Digital, Cloud, Product Engineering, Data, AI, and Application services, making him a seasoned strategist in today’s dynamic digital landscape. His appointment marks a significant milestone in Trianz’s journey to nurturing talent and delivering world-class solutions.
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our “IP Led Transformations” approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media Team : [email protected]+1-408-387-5800
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