Rising Waters, Falling Economy: Can AI Make a Difference?

#SevereFloods in Thailand are one of the countless events happening worldwide from now on. These events will affect billions of lives and cause economic losses worth trillions, to an extent that they are immeasurable... unless we act.

This flood is caused by heavy rainfall and the deforestation in Thailand and Myanmar, perfectly fitting the definition of Climate Change. According to the IPCC, the burning of fossil fuels and deforestation are the main factors causing #CarbonOvershoot globally, followed by global warming. The danger isn't just about rising temperatures; it also makes floods more frequent, storms more severe.

#EconomicCost Today, we can only see the short-term costs like repairing infrastructures, healthcare expenses, helping farmers who lost their income, and managing rising agricultural product prices. However, the immense long-term costs are looming, potentially including:

• Major infrastructure investments to prevent cities near rivers and coasts from flooding.

• Expenses from chronic diseases and mental health issues caused by anxiety.

• Migration due to the loss of livelihoods. The World Bank estimates that climate change could force up to 140 million people worldwide to migrate domestically by 2050.

• Increasing economic inequality, mounting debt, and slower economic growth.

  
  

Many forms of natural disasters, including floods, droughts, wildfires, heatwaves, and PM 2.5 dust storms, are forming economic crises in various countries. There is only one way out of this: moving towards a #LowCarbonEconomy. We must reduce our reliance on carbon-heavy fossil fuels to lower temperatures, reduce resource depletion, and lessen the severity of natural disasters.

Will we transition to a low-carbon economy fast enough?

The pace of #AITechnology offers some hope that it could help us survive. Let’s explore examples of how AI could be beneficial:

‘Enhancing energy efficiency and management’ 

AI can calculate energy demand-supply in real time, predict peak usage periods, and optimize energy distribution. It supports the expansion of renewable energy plants and can calculate the most energy-efficient travel routes, reducing the need for additional fossil fuel production.

‘Promoting precision agriculture’ 

AI has revolutionized agriculture by using drones and sensors to monitor plant health, soil conditions, and weather patterns. This allows for more efficient irrigation, fertilization, and pest control, helping farmers boost yields with data, reduce waste, and minimize environmental impact.

‘Reducing carbon emissions’ 

AI can help organizations track and reduce their carbon footprints, identifying hotspots that need improvement and developing carbon reduction strategies. It can also enhance carbon credit markets, with computer vision AI able to read satellite images of forests to calculate carbon credits.

‘Climate modeling’ 

AI-powered satellite and sensor networks can track real-time changes such as deforestation, air quality, and water levels, helping to identify patterns and trends in temperature changes, sea level rise, and future extreme weather events. However, predictions based on historical data don’t always tell the future.

‘Policy-making and decision support’ 

AI can analyze complex datasets to evaluate the efficiency and cost-effectiveness of different policies, prioritizing actions with the most impact. It also enhances public engagement, with AI-driven platforms tailoring communication to the audience. 

Disasters could become manageable natural events if we respond correctly. Transitioning to a low-carbon economy will reduce long-term costs and offer long-term benefits. That’s why integrating AI technology into climate action strategies is something Carbonoi would like to continue discussing with readers. We also extend our support to those affected by the floods during this time.

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Reference:

IPCC. (2021). Sixth Assessment Report: The Physical Science Basis.

World Meteorological Organization (WMO). (2021). State of the Global Climate 2020

International Labour Organization (ILO). (2021). Working on a Warmer Planet.

World Bank. (2021). Climate Change and Migration.

Global Commission on Adaptation. (2019). Adapt Now: A Global Call for Leadership on Climate Resilience. Global Center on Adaptation.