Amid Low Power Generation, IMF Says AI Growth Will Triple Electricity Demand In Nigeria

Artificial Intelligence (IA) is emerging as one of the main levers of productivity and economic growth in the 21st century, however, this advance has a significant cost that puts infrastructure and energy sources at a global level in check. According to the International Monetary Fund (IMF), technology is booming, transforming not only employment and investment, but also accelerating the pace of global economic growth.

IMF | AI Needs More Abundant Power Supplies to Keep Driving Economic Growth | European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources AI Needs More Abundant Power Supplies to Keep Driving Economic Growth

Blog post by Christian Bogmans, Patricia Gomez-Gonzalez, Giovanni Melina, Sneha Thube The power-hungry technology requires policies to help expand electricity supplies, incentivize alternative sources, and help contain price surges Artificial intelligence is an emerging source of productivity and economic growth that’s also reshaping employment and investment. AI has the potential to raise the average pace of annual global economic growth accord…

Amid Low Power Generation, IMF Says AI Growth Will Triple Electricity Demand In Nigeria

The growth of Artificial Intelligence (AI) will triple the demand for electricity in Nigeria, US and other countries in next five years, a report published by the International Monetary Fund (IMF) has said. This is based on the report by IMF, titled, ‘AI Needs More Abundant Power Supplies to Keep Driving Economic Growth.’ According to the IMF report, AI needs more electricity for the data centers that make it possible. IMF said, “As the Chart of…

[Digital Daily Reporter Bae Tae-yong] Data center semiconductor specialist Padu (CEO Nam I-hyeon, Lee Ji-hyo) continued its performance growth by recording sales of KRW 19.2 billion in the first quarter, a traditional semiconductor off-season. This is an eight-fold increase over the same period last year. Padu announced this on the 12th while disclosing its provisional performance for the first quarter of 2024. The large increase compared to sal…

ABI Research: AI data center demand to grow at fast pace

According to ABI Research Principal Analyst Sebastian Wilke, the U.S remains at the forefront of AI data center investments The demand for AI-focused data centers is set to grow significantly in the coming years, outpacing general-purpose cloud infrastructure by a factor of two to three, according to Sebastian Wilke, principal analyst at global technology intelligence […]