Unleashing the true potential of digital IoT technology solutions
Affordable digital technology solutions not only generate business value but accelerate the journey to achieve net-zero targets. IoT-enabled technology solutions are revolutionizing the way some sectors operate. The United States Department of Transportation works closely with car manufacturers to reduce road accidents by 80% using IoT technology. Other applications include better traffic management, intelligent accident assistance, and effective trip scheduling to achieve operational efficiency and reduce energy consumption for an overall reduction in carbon emission.
A power-packed combination of IoT and AI has simplified fleet management by providing deep foresight into critical information such as route, traffic, vehicle speed, etc., to accurately predict the number of trips needed, thereby significantly reducing fuel consumption and emissions.
Digital technologies under the IoT umbrella are predicted to reduce global emissions by up to 15 percent in the next decade – or one-third of the 50% reduction required by 2030 through its customizable solutions and versatile applications.
Corporates operating in ‘high emission’ industries such as manufacturing and oil and gas are leveraging data-led analytics to compose a comprehensive action plan to reduce their carbon emission and related costs. By synchronizing assets, people, and products, cloud -based connected devices can streamline data flow to assess asset performance and product quality with crucial information on equipment health and maintenance status.
Digital twin technology can predict malfunction and significantly reduce unplanned downtimes. Deployment of intelligent technologies such as IoT sensors can also communicate and store data in the cloud for an in-depth analysis to develop models to predict any malfunction before it occurs or forewarn the crew of possible repair work. This significantly reduces the costs associated with repairs, production disruptions, or possible workplace accidents due to equipment damage and positively impacts the surrounding environment.
IoT and AI solutions have a range of applications that can maximize renewable energy distribution models. Smart grid technologies combined with real-time data inputs can disrupt the production of electricity and distribution to domestic and commercial consumers with an accurate estimation of power usage to predict supply and demand. IoT technology with machine learning capability and AI-backed analytics can make renewable energy solutions like solar panels and wind turbines more efficient and cost-effective. The energy wasted in transmission lines can be drastically cut down with reduced dependence on fossil fuels.
Smart farming based on IoT technologies enables farmers to reduce waste and enhance productivity ranging from the quantity of fertilizer utilized to the number of journeys farm vehicles make. This enables efficient utilization of resources such as water and electricity. IoT smart farming solutions are a system built for monitoring crop fields with the help of sensors (light, humidity, temperature, soil moisture, crop health, etc.) and automating the irrigation system. Farmers can monitor the field conditions from anywhere.
Policymakers and governments around the world are embracing smart technologies to leverage data insights and cost efficiencies. Building smart cities and special environmental zones using IoT technology could be a game changer for city corporation authorities. Cities consume 78% of the world’s primary energy and account for over 70% of carbon emissions. Smart technology will be a key lever in enabling cities to achieve important zero-carbon goals using technologies for effective management of street lighting, waste disposal, parking data, crowd control, public transportation, and utility services.
Many multistory buildings and shared workspaces implement smart building management systems such as IoT sensors to control HVAC (Heating, Ventilation, and Air Conditioning) for better occupant experiences and effective resource management for reduced maintenance costs. The facilities management team often has access to multi-site visibility on occupancy and deep insights into HVAC and energy consumption.
Building management technology enables automatic monitoring, managing, and proactively controlling systems to maintain key parameters such as air quality, temperature control, etc. with remote access to buildings. Powerful AI-backed data analysis tools give deep insights and provide real-time data to detect patterns in the energy consumption of an entire facility for customized occupant experiences and higher cost efficiency.
A careful step in the right direction
The true potential of IoT technology lies in its power to give real-time data from multiple sources with powerful AI-backed analytics that presents enterprise-wide data in a single pane view for an accurate prediction model. If enterprises can predict their contribution to global emission and view the costs associated with it, both financial and environmental, the action plan to offset the emissions can be fine-tuned to meet the combined goal of sustainability and business value generation.
Powerful AI-backed data analytics can empower governments and enterprises with critical information to plan a circular economy that focuses on end-to-end activities from production to consumption to achieve optimized output in the most environmentally responsible way.
Global economies, industries, corporates, and individuals are at a crossroad to take decisive action. With smart and futuristic technology, net-zero is not an abstract or improbable task, but rather an achievable target that can be reached with systematic actions and long-term plans.
Corporations like Wipro are committed to achieving net-zero carbon emission before 2040 by positioning sustainability at the core of their business model. Many global corporates are emerging as influential climate leaders to enable business transformation to accomplish the net-zero targets. The action plan consists of business transformation, collective actions, and systemic change in the way the value chain of each industry operates to create business value.
A successful transition from sustainability commitment to implementation relies on the adoption of smart technologies that have the capacity to generate incremental value with deeper insights. Technology will be a key enabler in the race to meet net zero and its versatile application across different industries will help generate positive and promising results with measurable performance metrics in reducing emissions either directly or indirectly. These technology enabled solutions must be used ethically and with total transparency and accountability by governments and corporates around the world in the race to win net zero targets and for a sustainable future.
If you are interested in learning how Wipro can help you achieve your sustainability goals, connect with us.
- Quote - https://www.un.org/press/en/2020/sgsm20411.doc.htm
- https://www.manxtechgroup.com/world-economic-forum-net zero-carbon-cities-and-iot/
- https://transformtonetzero.org/files/Transform-to-Net zero-Position-Paper-Action-Plan.pdf