How the Metaverse Can Help Companies Cut Emissions 🌍

🌍The so-called Metaverse conjures images of gamers with headsets, friends hanging out in a virtual world, or perhaps even a new kind of online meeting.

⚙️Nokia, however, is envisioning the Metaverse differently. The company is putting what it calls the “Industrial Metaverse,” at the center of its corporate strategy. The goal is to help companies map out their industrial systems and determine the most efficient ways to operate them, saving costs, accelerating innovations, and—if used right—reducing emissions.

🔧 Utilities can use the industrial Metaverse to repair facilities remotely, slashing emissions-intensive travel. Manufacturers can prevent machine downtime, cutting the emissions of having to build and operate backups. And transport companies can use the technology to better model their network, keeping unnecessary trucks in the garage and planes on the ground.

💡“Sustainability is the other side of efficiency and productivity,” says Thierry Klein, president of Nokia Bell Labs Solutions Research. Nokia’s industrial metaverse business is just one example of the growing intersection between digitization and climate change.

🌍 Over the past two decades, designing an appropriate response to the digital revolution has become a strategic imperative for companies and, in many cases, a necessity for survival. As companies increasingly focus on climate change and how to decarbonize their own operations, digitization also offers an opportunity; and many large industrial firms that are attuned to their energy use are keen to do anything to contain those costs.

⚠️ But digital technologies come with their own climate risks, and executives and regulators need to be conscious about how to manage them.

💼 “You have the promise of optimizing your system and improving your resource consumption, when you apply the AI engine,” says Klein. “But the AI engine itself will take away some of your gains.”

🌍 There’s also the challenge of convincing smaller firms and industries that use less energy to think of digital technology to cut energy waste.

🌱 That’s where the climate case can come in. Cutting energy and other waste at, say, a hotel or shop will reduce emissions, potentially making the business more appealing to customers, including everyday consumers and big companies concerned with their own footprints alike.

#Digitization #ClimateChange #Insights

Read the article: https://time.com/6292680/metaverse-corporate-climate-emissions/

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