🎒 +5% Preschool Enrollment in Sweden. Renewable Energy in New Zealand Up 10%. Global AI Spend on Banking.
Chart of the Day #254 looks at Preschool Enrollment in Sweden, Renewable Energy in New Zealand, and Artificial Intelligence
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The UAE is introducing more scholarships and simpler accreditation processes for universities as part of efforts to improve the quality of its higher education system. China launched its third and largest semiconductor investment fund, Big Fund III with $47.5B to boost its semiconductor industry.
Today's Topics
🎒 K12 Education. Preschool enrollment in Sweden declined by over 4%
🍃 Renewable Capacity. Renewable energy in New Zealand rose over 10%
💻 Artificial Intelligence. Banking accounted for nearly 15% of global AI spend
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🎒 Preschool Enrollment in Sweden Declined by Over 4%
Preschool enrollment in Sweden fell by 4% from 2019 to 2023, attributed to declining birth rates and changing family preferences for childcare. Economic uncertainties during the pandemic also led some parents to delay or forgo preschool enrollment. Sweden's robust parental leave policies may have further reduced the immediate demand for early childhood education.
🍃 Renewable Energy in New Zealand Rose Over 10%
Between 2018 and 2023, New Zealand's renewable energy capacity grew from 7.4GW to 8.3GW, an increase of over 10%. This growth aligns with the government's goals of achieving 100% renewable electricity by 2030 and net-zero emissions by 2050. Key initiatives, such as the Electrify NZ policy and the Gas Transition Plan, aim to facilitate investment and streamline project approvals, reinforcing New Zealand's commitment to a sustainable energy future.
💻 Banking Accounted for Nearly 15% of Global AI Spend
In 2023, banking and retail led global AI spending at 13% and 12%, respectively, with professional services at 10%. Discrete and process manufacturing contributed 9% and 7%, while other industries accounted for 46%. This trend aligns with global initiatives like the AI Alliance by IBM and Meta, and the UN's Advisory Body on AI, which promote international cooperation and equitable opportunities, reflecting a commitment to addressing AI's challenges and opportunities worldwide.
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