Prescriptive Data announced that JPMorgan Chase has started to use its Nantum OS software to help the global financial services firm optimize its energy use and reduce its carbon footprint.
The Nantum OS software will be embedded in JPMorgan Chase’s building management systems at its larger commercial real estate properties across the globe to help each building run more efficiently by using artificial intelligence and sensor technology to track and improve the firm’s energy use. The software analyzes historical and real-time data from occupancy monitoring devices, indoor air quality sensors, thermostats and building meters. The data then links directly to the buildings’ HVAC systems to ensure that the least amount of energy is being used without sacrificing the comfort level and indoor air quality for occupants.
Using Nantum OS software as the platform, JPMorgan Chase has designed a converged technology approach to meet its carbon emission reduction goals, that involves the fusion of the Internet of Things (IoT), Artificial Intelligence (AI), and Distributed Ledger Technology (DLT, more commonly known as blockchain).
“We’ve been working with the amazing building operations and sustainability teams at JPMorgan Chase since 2018, and we are excited to help the organization reach its operational carbon emission reduction goals,” said Sonu Panda, CEO of Prescriptive Data. “Over the next few years, artificial intelligence and machine learning will be at the forefront of climate technologies, and JPMorgan Chase continues to be a market leader and pioneer in this space.”
“We’re committed to using state-of-the art technology, including artificial intelligence and blockchain technology, to better manage decarbonization of our energy footprint across our global real estate portfolio,” said Hal Corin, Vice President of Sustainability for JPMorgan Chase’s Global Real Estate Group.
JPMorgan Chase achieved carbon neutrality in its operations in 2020, and has set additional targets to drive progress on operational sustainability, including a commitment to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 40% by 2030. The firm continues to support the development of renewable energy by installing on-site renewable energy systems and executing long-term renewable energy procurement agreements, and has set a goal that these solutions will make up 70 percent or more of its renewable energy procurement by 2025.
JPMorgan Chase is committed to helping facilitate the transition to a low-carbon world. The firm strives to promote a sustainable and inclusive economy by setting carbon reduction targets for the Oil & Gas, Electric Power and Auto Manufacturing sectors, and aiming to finance and facilitate $2.5 trillion in sustainable development through 2030.
Later this year, Nantum OS will be announcing its Algo Marketplace, allowing other AI algorithm companies to plug directly into the Nantum OS platform. This will give real estate operators like JPMorgan Chase the ability to plug-and-play different automated energy conservation measures, creating a new age of smart building automation and sustainability.