Doha, April 27 (QNA) - The Investment Promotion Agency Qatar (Invest Qatar) and Iberdrola Innovation Middle East have released a joint report, 'Digital Innovation for a Sustainable Future,' highlighting the transformative role of digital technologies in advancing energy efficiency, sustainability and economic diversification.

The report explores key global trends in Artificial Intelligence (AI), smart grids, cloud computing and clean technology, offering insights into their potential to accelerate Qatar's digital transformation.

The release of this new report marks the ongoing strategic partnership between Invest Qatar and Iberdrola, building on the Memorandum of Understanding (MoU) signed in May 2022. This agreement enabled Iberdrola to expand its world-class innovation centre dedicated to advancing the application of AI in the energy sector in Qatar and worldwide.

Through this partnership, the Spanish group has expanded its Research, Development and Innovation (RDI) activities via the Doha-based Iberdrola Innovation Middle East, located in Qatar Science and Technology Park (QSTP). The centre drives the development of AI-based solutions that enable the transition to an electrified energy system by facilitating the integration of renewable generation and storage, enhancing the planning and operation of digital electrical networks, and empowering customers to actively participate in the energy transition through data-driven decision models.

In this context, the newly released report highlights the transformative impact of emerging technologies, particularly AI, which is projected to generate an annual economic value of USD 11 trillion to USD 18 trillion, by revolutionising industries such as energy, logistics and manufacturing. Additionally, the rapid expansion of private 5G networks and hyperscale data centres is reinforcing business competitiveness, as 5G technology is projected to contribute almost USD 900 billion to the global economy by 2030.

These advancements are reshaping energy efficiency, as smart grids, Internet of Things (IoT) and AI strengthen the resilience and sustainability of power systems. Looking ahead, the shift toward clean technology will require a major workforce transformation, with an estimated 200 million skilled workers required globally by 2050 to support the continued expansion of sustainable energy solutions.

CEO of Invest Qatar, Sheikh Ali Alwaleed Al-Thani said: "In Qatar, we are embracing digital innovation with a balanced approach, ensuring it aligns with our long-term sustainability goals. By integrating cutting-edge technology with responsible environmental practices, we aim to create opportunities for investors and businesses committed to driving sustainable growth. We believe that digitalisation is not just about enhancing efficiency, but also about shaping a smarter and greener future."

For his part, Managing Director of Iberdrola Innovation Middle East, Santiago Banales said: "This report offers timely insight into how digital innovation, particularly AI, is reshaping the energy landscape and accelerating the shift toward more sustainable systems. AI is driving rapid progress across the sector, from enabling smarter grid operations to optimising the use of renewable energy. Yet it also brings growing energy demands, which must be met with clean, efficient sources."

He went on to say: "At Iberdrola Innovation Middle East, we are developing AI-based solutions that not only enhance how we generate and manage energy, but also ensure that innovation is sustainable by design. Our ongoing partnership with Invest Qatar reflects a shared commitment to supporting Qatar's transition to a diversified, knowledge-based economy, in line with the goals of Qatar National Vision 2030."

The Investment Promotion Agency Qatar (Invest Qatar) is responsible for overseeing investment promotion activities, aimed at attracting foreign direct investment to Qatar.

Iberdrola, Europe's largest electricity utility by market capitalization and one of the world's top two electricity companies, is a leader in renewables, spearheading the energy transition to a low-carbon economy. Iberdrola Innovation Middle East is a world-leading innovation center, located in Qatar Science & Technology Park, that aims at defining 'the digital utility', developing innovative digital solutions for renewable energy integration, smart grids and energy efficiency and conservation. (QNA)