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Italy Advances Plans For Ambitious Low-Orbit Satellite Constellation

Italy is charting a bold course in the space race, ramping up efforts to establish its low-orbit satellite constellation. In a significant development, the country has moved into phase 2 of its project, progressing beyond early feasibility studies, according to a source close to the matter.

This constellation, designed for both civil and military applications, will feature over 100 satellites. But what sets it apart is its interoperability—intended to work seamlessly with existing global satellite networks, rather than operating in isolation. “The goal is integration, not independence,” the source clarified, noting that the constellation’s debut is unlikely to occur before 2031.

In early March, Italy’s space agency submitted a preliminary feasibility report to the government, ahead of the initially set summer deadline. With phase 2 now underway, Italy is entering negotiations with key industry players, including Leonardo, the state-backed aerospace and defense giant. Leonardo is expected to play a critical role in the design and construction of the satellite network.

While details remain scarce, the project reflects Italy’s growing ambition to bolster its presence in space and enhance its strategic capabilities. The involvement of major defense contractors signals the project’s dual-use nature, aimed at serving both civilian needs and military requirements.

As the clock ticks towards 2031, Italy’s satellite constellation will be a key piece in its evolving space strategy. For now, all eyes are on the next steps as the country takes bold strides toward solidifying its role in the new space economy.

The Transformative Potential Of AI: Could It Shape The Global Economy By 2035?

AI: A Game Changer for the Global Economy by 2035

Artificial Intelligence (AI) is poised to revolutionize the world economy. According to PwC Cyprus, AI could enhance the global gross domestic product (GDP) by as much as 15% by 2035. Cyprus’s AI Taskforce is already envisioning a future deeply integrated with these technologies.

Path to Economic Growth

PwC’s report, Value in Motion, suggests AI might contribute a 1% annual growth, mimicking the industrial revolution’s impact. However, this growth isn’t predestined. It hinges on technological success, responsible AI implementation, governance, and public trust.

Under scenarios of lower trust, projected growth might only reach 8%, or even drop to a mere 1%. Therefore, widespread collaboration is essential.

Industry Transformation and Climate Considerations

Industries are already realigning. PwC forecasts a shift of $7.1 trillion in revenues among companies by 2025, without even considering tariff impacts. For instance, the healthcare sector in Cyprus might benefit as cross-sector collaborations redefine market landscapes.

Climate change, however, poses a counterbalance. It could contract the global economy by nearly 7% in 2035. Yet, modest improvements in AI’s energy efficiency could negate this impact. A 1% boost in AI adoption need only spark a 0.1% drop in energy use to stay climate-neutral.

PwC’s Strategy for the Future

PwC plans to ride this AI wave through initiatives like launching agent OS, which streamlines AI agent workflows by up to tenfold. Training and expanding partnerships with tech giants such as AWS and Microsoft further bolster their AI endeavors.

Their Network AI Academy now trains over 291,000 individuals. By incorporating tools like ChatPwC and updating their Industry Edge portfolio, PwC is prepared for the AI-driven future.

As Mohamed Kande, PwC’s Global Chairman, states, “Transformative growth will come from tapping into evolving needs and reshaping business operations through technology.” PwC’s newest brand identity echoes this commitment, embodying progress through its redesigned logo and visual style.

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