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The Circular Economy System

The Circular Economy System

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This paper explores the potentials of Artificial intelligence in the transition to a circular economy. A circular economy is an emerging economic model that is restorative or regenerative by intention and design .The model emphasizes that by keeping materials at their optimal use and value continually, the system can be optimized. The CE model op...

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... include: applying real time traffic data to reduce traffic congestion, optimization of energy usage for cooling servers in different data centers and enhancing collaboration between car sharing companies and automotive companies.AI is promising, the potential value unraveled by AI in assisting to remove waste in a circular economy for food is estimated to be USD 127 billion a year in 2030.This feat is accomplished through various opportunities at the farming,processing,logistics and consumption levels. Some of the applications include: using image recognition to determine when fruit is ready to pick; matching food supply and demand more effectively; and enhancing the valorization of food by-products (Ellen MacArthur Foundation,2019).The fourth industrial revolution (AI&IOT) can accelerate the of the transition from linear economy to circular economy as depicted in figure 3. (Ellen MacArthur Foundation, 2019) argued that the potential to drive the use of AI in circular economy is substantial and presently largely untapped. ...

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... The recycling of plastic garbage could be done more accurately and efficiently with the use of blockchain technology and multisensory artificial intelligence interfaces. According to Akinode and Oloruntoba (2020) 9 , the potential value of trash that artificial intelligence (AI) might unlock in a circular economy is projected to be around 127 billion annually by 2030. A mathematical approach to optimize net profit by combining remanufacturing to meet SDGs was also presented by Rajak et al. in 2021. ...
... The recycling of plastic garbage could be done more accurately and efficiently with the use of blockchain technology and multisensory artificial intelligence interfaces. According to Akinode and Oloruntoba (2020) 9 , the potential value of trash that artificial intelligence (AI) might unlock in a circular economy is projected to be around 127 billion annually by 2030. A mathematical approach to optimize net profit by combining remanufacturing to meet SDGs was also presented by Rajak et al. in 2021. ...
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... Smarter extensions of specialist robots, which combine ever-increasing AI advancements, can accomplish the corresponding gains. In a recent article, Akinode and Oloruntoba (2020) highlighted some other uses of the artificial intelligence in occurrence and consolidation of business models, which are compatible to the principles of circular economy, such as: data analysis (historical and real time), learning techniques for the product design, extended use of classification algorithms and chat bots. ...
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... By analyzing data on individual customer behavior, using AI, companies can design products that meet specific customer needs and preferences and develop customized reuse and sharing models that encourage greater product use and engagement. By analyzing data on consumer behavior using AI, companies can identify the most effective marketing channels and messaging that resonate with target audiences, thereby increasing awareness and adoption of circular products and services [25]. ...
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... Thus, attracting interest from academia, companies, and policymakers is a promising approach promoting sustainability and competitiveness (Bressanelli et al., 2018). Furthermore, Big Data have been proposed as one the driving force of the new circular economy (Awan et al., 2021) with technological innovation as a key factor for instance to connect assets that enable predictive maintenance to prolong the asset life; blockchain technology that can create traceability and transparency in supply chains to reduce waste and 3D printing spare parts that make repairing easier (Akinode et al., 2020& Charnley et al., 2022. It can help in overcoming barriers to CBMs, facilitate the operationalization of circular material, components, and product flows, offer the far-reaching potential for comprehensive networking of "smart" circular economy strategies from analysis to artificial intelligence (AI) supported prediction of data, and can be seen as "glue" between value chain partners (Baumgartner et al., 2022& Kristoffersen et al., 2020. ...
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... Moreover, AI, blockchain, geographical information systems (GIS), and mobile apps acted as catalysts in CE transitions. Another study stressed food and plastic waste removal for the well-being of the environment (Akinode & Oloruntoba, 2020). It portrayed the cradle-to-cradle CE model as a productive and sustainable model that is socially and economically feasible. ...
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Circular economy (CE) regenerates nature by introducing circularity in economic systems. It tackles various global challenges of sustainability, specifically in the agriculture and food sectors. Digital technologies support its implementations; especially, artificial intelligence (AI) is acquiring momentum. In this regard through algorithms, remote sensors, drones etc must be incorporated to achieve the desired target. The current studies provide bounded investigations of AI-driven CE exclusively in Pakistan. The main purpose of this paper is to elaborate on AI support in the implementation of CE practices and to explore the current waste situation in Pakistan and the implementations of CE and AI-driven CE practices in it. Inductive research is conducted in two stages. On the one hand, the theory is developed to evaluate the CE concept and AI techniques to strengthen its practices. On the other hand, a framework is proposed for multi-purpose case studies in the agriculture and food industries of Pakistan to integrate capabilities of CE and CE driven by AI. The outcomes of this research reveal that the true value of AI lies in the transition of CE and recommends that Pakistan must take some crucial measures to boost these practices to achieve sustainable development goals. Some limitations and future research proposals are also provided. The study helps researchers, companies and institues to participate positively towards the Circular Economy goal achievement by imlementing the AI.
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