Applied Technology Review : News

  Blockchain has the potential to enable companies and consumers to track transactions more securely and transparently to make sure that suppliers are adhering to their values – whether that is environmental stewardship or sustainable manufacturing. Companies are investing significant time and effort in determining how to consistently capture meaningful and reliable non-financial data to share with their stakeholders as the call for enhanced transparency and accountability from companies on their environmental, social, and governance efforts continues. Digital solutions may be able to assist them in this endeavor. For decades, businesses have used technology to improve their business performance. But how can digital disruption be used to not only ensure but also encourage long-term business practices? When it comes to ESG efforts, businesses are starting to realize the rapid expansion and potential that technology provides. Here are some technology innovations that are accelerating, amplifying, and prioritizing sustainability in today's business world: Artificial Intelligence (AI) AI has the potential to change company reporting processes when it comes to ESG, not just predict and model sustainable initiatives. While sustainability information enters the market, AI enables businesses to sift through large data sets at unprecedented speed. As the value of ESG data is better understood and increasingly demanded, AI offers the opportunity to intelligently analyze massive amounts of fragmented data, charting sustainable new business paths. Blockchain This much-discussed technology has already positively affected industries such as energy and finance, redefining broken systems and data consumer security. On the other hand, Blockchain is a game-changer in supply chain management, enabling greater transparency and efficiency. The complexity and opacity with which supply chains are managed today are astounding. Blockchain has the potential to enable companies and consumers to track transactions more securely and transparently to make sure that suppliers are adhering to their values – whether that is environmental stewardship or sustainable manufacturing. Data Mining Understanding a company's ESG risks and opportunities are becoming increasingly important, especially as the information is becoming a non-negotiable for regulators and stakeholders at large. In a world where more and more data is produced, the lack of homogeneous, high-quality data presents a significant challenge for companies seeking an easy look into their ESG attributes. As data mining tools become more advanced – from machine learning to optical character recognition – their advancement will provide access to previously inaccessible data and insights, allowing all parties to quickly and efficiently zero in on value. ...Read more

  The two firms, Petrofac and Seawind ocean technology, join hands to work together in order to deliver early floating offshore wind plant commitments. FREMONT CA: Petrofac and Seawind Ocean Technology have begun working together on a new project that will use two-bladed floating wind turbines. Many of Petrofac's projects will feature Seawind Ocean Technology turbines. Seawind is known for its turbines, while the London-based company is noted for its focus on building and operating facilities. Most sea conditions, particularly deepwater and cyclone-prone locations, can benefit from Seawind turbines. The two-bladed floating turbines are equipped with a floating concrete structure that allows them to operate in various sea conditions. Petrofac will assist in the installation, assembly, and maintenance of the turbines as part of a major partnership. Petrofac and Seawind Ocean Technology have begun working together on a new project that will use two-bladed floating wind turbines. Many of Petrofac's projects will feature Seawind Ocean Technology turbines. Seawind is known for its turbines, while the London-based company is noted for its focus on building and operating facilities. Most sea conditions, particularly deepwater and cyclone-prone locations, can benefit from Seawind turbines. The two-bladed floating turbines are equipped with a floating concrete structure that allows them to operate in various sea conditions. Petrofac will assist in the installation, assembly, and maintenance of the turbines as part of a major partnership. Seawind's twin-blade technology with a 50-year lifespan has the potential to improve rotor stability and increase generation efficiency. This turbine, officially known as the 6-126 turbine, features a wobbling hinge that connects the shaft and rotor. Another benefit of Seawind's technology is that it protects the turbine from dangerous and severe loads. Higher speeds are also feasible with the turbine, thanks to active yaw control. The services that Petrofac will provide will assist Seawind. Design verification, engineering, procurement, and construction will all be provided by Petrofac. This will be the first time Seawind has demonstrated a floating offshore wind turbine in European waters. By the first quarter of 2024, the system should be operational. Petrofac will continue to provide clients with results enabled by effective technology and innovation. With both Petrofac and Seawind's efforts, an effective offshore application is achievable. The combined technology and services will improve the speed and efficiency of energy harvesting. Another benefit of the system is that it may be built with cranes in a harbor. Installation at sea will not necessitate the use of a vessel. This renewable energy initiative is projected to succeed thanks to the collaboration of the two major corporations. Both have a strong design and implementation track record. Petrofac, in particular, has secured multiple contracts and partnerships with other companies in the UK and around the world to assist various water, hydrogen, carbon capture, and storage projects. On the other hand, Seawind Ocean Technology will continue to provide enhanced execution capability. ...Read more

GIS is re-engineering the vision of the world and solving problems in unanticipated ways, thanks to the digital revolution and rapidly developing remote sensing technology. Unavailability, obsolescence, unreliability/inaccuracy, and inconsistency are the most significant data-gathering issues in most developing countries. Meanwhile, access to key data for planning development is often limited. Traditionally, analog technologies were used for mapping and data production. Any inaccuracy in storing and extracting analog data would have repercussions in development planning. Due to a lack of common data storage and handling systems, inadequate data exchange, reuse, recycle facilities, and duplication in data collecting are frequent. These problems can be solved by utilizing geospatial data, which is becoming increasingly popular in development planning and disaster management. It aids decision-making by simplifying difficult facts, maintaining transparency, and improving communication. However, many countries in Asia and the Pacific lack the ability to exploit these technologies, owing to a lack of awareness and comprehension. Geographic information systems (GIS) have evolved into a powerful tool for capturing, storing and displaying data connected to geographic positions. Creating geospatial data has never been easier because of the advancement of remote sensing technology such as satellite-based observations and global positioning systems. Many GIS systems provide spatial and volumetric analysis capabilities, which can be used to replace traditional spatial analysis such as watershed modeling, maximize investments, and facilitate disaster risk and effect assessments. In addition, a geographic information systems platform may readily do development benchmarking and project performance review over time. Time-based geospatial data can be used to evaluate land-use changes, demographic changes, infrastructure developments across time, and disaster effect reduction. Multiple single-sector mapping, data storage, filing, and other data interpretation and analytical activities are reduced using geographic information system applications. Although GIS technology is sophisticated in and of itself, its application is not, and this is sometimes misconstrued. The combination of geographic information system technology and cloud computing has had a significant impact on the capacity to use spatial applications and information in real-time, including disaster and pandemic response. As technology improves, data is corrected. ...Read more