Many firms don't realise how technology can help them hit sustainability goals

Date:
Wed, 13 Nov 2024 10:46:00 +0000

Description:
Companies are facing more pressure from investors and shareholders to go green, but theyre not using the right tech.

FULL STORY ======================================================================92% of UK businesses recognize sustainability as a key priority More pressure is coming from investors and shareholders The future is in data-driven
predictive AI

A new joint study by Kyndryl and Microsoft has shed light on how taking advantage of new and emerging technologies can actually help companies reach their sustainability goals.

With British businesses being forced to comply with increasingly stringent regulations, nine in 10 (92%) UK companies now recognize sustainability as a high priority, however fewer than one in three (30%) are fully using technology for meaningful progress.

However, the report revealed that investor expectations and shareholder demands are the primary motivators with pressure coming from the top and outside, businesses are less likely to feel the urge to change, which is reflected in the low green tech uptake. Businesses arent using tech for sustainability initiatives

With investor and shareholder pressure now noted by 38% of respondents, up from 29% last year, the need to reduce energy consumption as a motivator has slipped four percentage points to 38%.

In terms of how companies can use tech to become more sustainable, artificial intelligence is already emerging as an important role player. Three in five (62%) use it to monitor energy use and emissions, but with only 37% using predictive AI to forecast needs based on trends and patterns, theres room for improvement.

Furthermore, only one in five (19%) fully use data for strategic planning and decision-making a concerningly small proportion given the importance of a strong data foundation in the deployment of AI tools .

However, the report calls for the responsible use of artificial intelligence, which relies on power- and resource-hungry data centers that themselves are coming under scrutiny in a more environmentally-conscious world. Only one-third (35%) are currently considering the energy implications of their AI solutions.

"By integrating sustainability into a companys business strategy, processes and systems, organizations can maximize the value of their people and technology to achieve internal goals and deliver positive impact," noted
Faith Taylor, Chief Corporate Citizenship and Sustainability Officer at Kyndryl. You might also like Weve listed the best green web hosting providers Cost concerns are holding back sustainability drive for many firms Keep your data safe online by using one of the best cloud hosting providers



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Link to news story: https://www.techradar.com/pro/many-firms-dont-realise-how-technology-can-help- them-hit-sustainability-goals


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