A Smart Energy is the process of using devices for energy-efficiency that is the intelligent optimisation of energy costs and efficiency using innovative technology to build and operate a sustainable energy management system. The Smart Energy is accomplished by integrating artificial intelligence, machine learning, and data analytics technologies into processes using IoT sensors that focuses on powerful, sustainable renewable energy sources, and promotes greater eco-friendliness while driving down costs. A Smart Energy System can be defined as: 100% renewable energy system; sustainable level; maximise efficiency and reduce costs; affordable (can reduce the cost and maximum increases of up to 10-15% are expected)

Related Definitions in the Project: The Renewable Energy 

IMF Praises UK's Digital Infrastructure for AI Readiness (23 April 2024): By City A.M - The UK economy is uniquely positioned to benefit from the roll out of artificial intelligence. Politicians on all sides should be championing policies that help secure these benefits as soon as possible, Chris Dorrell writes. Amid a slew of warnings about slow growth and rising national debt, it was easy to miss that the International Monetary Fund (IMF) had some good news for the UK economy last week. Modelling the potential impact of artificial intelligence (AI) on both UK productivity and output, it suggested that the size of the UK economy could grow by an enormous 16 per cent. Perhaps more striking, the IMF suggested that these gains would take place “primarily in the first decade of transition”. Productivity gains from AI were expected to range from 0.9 to 1.5 per cent a year, compared to a global average of between 0.1 per cent and 0.8 per cent. ... (Source: Oil Price)