Energy and technology have underpinned two centuries of global economic growth and prosperity. From the steam engine of the early 19th century through the internal combustion engine of the mid-20th century to the internet of the late 20th century, successive waves of technological innovation have enabled humanity to produce more output with less input. Global GDP per capita— after a long stagnation that may have lasted many thousands of years— took off in the 19th century. Today, it has reached $13,000 per person, a 13-fold increase in a little over two centuries. The widespread adoption of the technological innovations driving that growth relied upon access to affordable and reliable energy Technological innovation and energy have underpinned economic growth Figure 1 in ever-greater quantities. In 1800, primary energy demand was 6,250 TWh per year; today, it is 180,000 TWh.24 It was technological innovation that unlocked that energy—from the introduction of coal-powered steam engines in the coal mines of the late 18th century to the fracking revolution of the 1990s. It has been a cycle of positive reinforcement (see Figure 1). Peng Xiao GCEO, G42 “ AI will be the catalyst for transforming energy systems globally. By harnessing advanced AI solutions, we can expand energy access, accelerate economic development, and enable adopting nations to spearhead the worldwide shift toward sustainable energy practices. This integration promises not only to optimize current systems but also to innovate new pathways for environmental stewardship and energy efficiency.” Efficient Steam engine 1769 Internal combustion engine 1867 Electrification 1890s – 1930s 0 1,000 4,000 7,000 10,000 13,000 1200 1400 1600 1800 1000 2000 20231 0 TWhs 40,000 TWhs 80,000 TWhs 120,000 TWhs 160,000 TWhs 200,000 TWhs GDP per capita (LHS y-axis) GDP per capita (USD) First Industrial Revolution Second Industrial Revolution Third Industrial Revolution Internet 1970s Global primary energy consumption (RHS y-axis) Energy, innovation, and growth The world has witnessed how technological innovation and access to affordable energy have delivered global growth and socio-economic progress for two centuries. Billions have been lifted out of poverty as a result, though millions are still without access to electricity and are at a disadvantage because of it. Note: GDP per capita data for year 0 – 1980 based on data from Maddison Project Database and University of Gronigen; 1980-present based on data from IMF Source: Our World in Data, World Bank, “World Bank World Development Indicators”, 2023; Bolt and van Zanden - Maddison Project Database 2023, University of Gronigen; Maddison Database 2010; Oxford Economics (GDP data from IMF Data Portal-1980 onwards); ADNOC Analysis 14 Powering Possible 13