IBM and Waterfund To Develop a Water Cost Index
Waterfund LLC recently announced that it has signed an agreement with IBM to develop a Water Cost Index (WCI).
Scientists from IBM Research will apply Big Data expertise, acting as a calculation agent, to analyze large and diverse unstructured data sets. This will be used to develop of a WCI framework that would estimate the cost of water in different regions around the world. With its market and financial product expertise, Waterfund will work to structure and commercialize the WCI.
Population growth, massive urbanization and climate change are placing increasing demands on our limited water supply. Forty one percent of the world’s population – that’s 2.3 billion people – live in water-stressed areas; this number is expected to grow to 3.5 billion by 2025. And according to the United Nations, water use has been growing at more than twice the rate of population increase over the last century.
With advances in technology — deep computing
and Big Data analytics linked to sophisticated sensor networks and smart meters
— IBM is helping clients and partners make smarter decisions about water
management. By monitoring, measuring and analyzing water systems, from
rivers and reservoirs to pumps and pipes, we can better understand the issues
around water. IBM is applying its expertise in smart systems and Big Data
to help companies, governments and citizens understand and more effectively
deal with these issues. As governments are increasingly forced to turn to the private sector to fund the construction and maintenance of complex water networks, the Rickards Real Cost Water Index™ will serve as a benchmark for helping measure hundreds of critical projects on a like-for-like basis. Index values will reflect estimated water production costs measured in US dollars per cubic metre for a variety of major global water infrastructure projects ranging from retail water utilities and wholesale water utilities to major transmission projects.
Please read the entire press release here