Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Bitcoin’s Energy Blueprint for the AI Revolution
ESG | Sep 5, 2023
Image: Unsplash/Thomas Kelley
Drawing parallels between Bitcoin's energy journey and the future of AI, and how we can tread a sustainable path.
In the ever-evolving landscape of technology, energy consumption has become a pivotal concern. As AI's demand surges, mirroring Bitcoin's energy-intensive history, it's crucial to understand and adapt.
See: Bitcoin Mining Council Protest ‘Misleading’ Letter Sent to EPA
The global fascination with artificial intelligence is undeniable. However, this burgeoning interest comes with a hefty price – a strain on our electricity grids. As AI's popularity parallels Bitcoin's trajectory, the energy implications become even more significant. Bitcoin, with its massive energy appetite, offers a roadmap for AI's energy journey.
The AI Surge and Energy Concerns
Nvidia Corp's skyrocketing data-center revenue is a testament to AI's growing demand. Applications like ChatGPT are just the tip of the iceberg. However, the energy demands of such advancements, exemplified by Nvidia's GH200 Grace Hopper Superchip, are a cause for concern. This power-hungry component, drawing up to 1,000 watts, is a stark reminder of the energy challenges ahead.
Training AI models isn't just about data and algorithms; it's also about energy. Take BLOOM from HuggingFace, for instance. This model's training required a staggering 24.7 metric tons of CO2, a figure that doubles when considering the entire system's network connections and idle time. Such statistics underscore the urgent need for sustainable AI training methodologies.
Beyond training, AI's energy consumption continues. As highlighted by Amazon.com Inc., 90% of AI's energy costs arise during its operational phase. The energy required for inferencing, or implementing data, is believed to be tenfold that of the initial training phase. Such figures emphasize the long-term energy implications of AI systems.
Bitcoin's Renewable Energy Pathway
Bitcoin, despite its energy challenges, has showcased the potential of renewable energy. Cold regions abundant in renewable energy, like Iceland, have emerged as hubs for Bitcoin operations. Such models present a viable blueprint for AI's energy future, emphasizing the importance of sustainable energy sources.
- As AI continues to grow, its energy consumption will be a central concern. Drawing lessons from Bitcoin's energy history can offer valuable insights.
- Bitcoin's shift towards renewable energy sources provides a sustainable model for AI to emulate.
See: MintGreen to make North Vancouver world’s first city heated by bitcoin
As we stand at the cusp of an AI revolution, it's imperative to prioritize sustainability. By learning from Bitcoin's energy journey, we can ensure that AI's growth is both innovative and environmentally responsible.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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