1. Boardrooms urged to upskill on AI

Norges Bank Investment Fund holds stakes in close to 9,000 companies globally, and is a leading voice on environmental, social and corporate governance (ESG) matters. Carine Smith Ihenacho, the fund’s Chief Governance and Compliance Officer, emphasized the need for board members to collectively understand AI usage and its implications.

“It doesn’t mean we need one AI person that’s an expert on AI. We need the board to understand, as a group, how AI is being used … have a policy at board level and [know] whether it is being used responsibly or not.”

2. AI boom fuels data centre water use, raising sustainability concerns

In the United States, the water consumption in Virginia’s “data centre alley” has surged by nearly two-thirds since 2019. This trend raises significant sustainability concerns, as tech giants invest heavily in infrastructure that requires vast amounts of water for cooling.

In 2023, US data centres consumed over 75 billion gallons of water, equivalent to London’s four-month water usage. Experts warn that the environmental impact of this growth could be substantial, especially in drought-prone areas like Virginia.

3. News in brief: Other tech stories to know

Chinese electric car maker Zeekr claims to be leading the race for the fastest charging battery, with the ability to charge from 10% to 80% in just over 10 minutes.

The European Commission has approved a $5.5 billion aid package for a new microchip manufacturing plant in Dresden, operated by the European Semiconductor Manufacturing Company.

South Korean AI chip makers Rebellions Inc and Sapeon Korea Inc have agreed to merge, aiming to compete with global leaders like Nvidia.

4. More on digital technology on Agenda

AI is becoming a powerful ally in combating climate change, processing vast amounts of data rapidly to assist climate scientists. This technology is being utilized to map icebergs in mere fractions of a second and to help African communities mitigate climate impacts.

A culture of digital innovation is aiding Malaysia in making significant strides towards its ESG commitments, integrating these principles into core business operations.

Despite limited access to traditional banking, Africa has emerged as a leader in digital banking, with mobile banking services evolving into a continent-wide e-payments infrastructure, providing billions with their first financial services access.