A recent study conducted by the IBM Institute for Business Value (IBV) has shown that top executives are increasingly recognizing the importance of generative Artificial Intelligence (AI) in their sustainability efforts. The survey, which included 5,000 C-suite executives across 22 industries and 22 countries, found that 63% of respondents believe that generative AI will play a crucial role in their sustainability initiatives.
Generative AI has the potential to revolutionize data-driven sustainability by helping organizations identify improvement opportunities, drive innovation at scale, and transform trade-offs into win-win scenarios. This emerging technology allows businesses to embed sustainability throughout their operations, rather than treating it as an add-on.
Interestingly, 76% of executives surveyed expressed their intentions to increase their investment in generative AI for sustainability. This highlights the growing confidence in the potential of AI to enhance long-term value creation and pave the way for a greener and more prosperous future.
Sandip Patel, Managing Director of IBM India Private Limited, emphasized the significance of integrating sustainability into core business practices. He stated, “With AI reshaping industries, the commitment from businesses to invest in generative AI for sustainability signifies a promising move towards a greener, more prosperous future.”
The study also revealed that organizations that have successfully embedded sustainability into their operations tend to spend slightly less on dedicated sustainability efforts compared to those that do not integrate sustainability practices. In fact, these organizations are 41% more likely to experience significant improvement in revenue from their sustainability initiatives and 90% more likely to outperform their peers in terms of profitability.
However, the study also addressed challenges that organizations face when it comes to funding sustainability investments. In India, 47% of respondents reported struggling to secure funding for sustainability initiatives, even though 78% agreed that sustainability drives better business results and 68% believed it to be central to their business strategy.
It is essential for organizations to view sustainability beyond just an accounting or reporting exercise and instead embrace it as a transformative opportunity. By flipping the way sustainability is operationalized and fully integrating it into core business practices, organizations have the potential to significantly increase their business value.
Frequently Asked Questions (FAQ)
1. What is generative Artificial Intelligence (AI)?
Generative AI refers to a form of artificial intelligence that can create new and unique content or ideas, rather than simply replicating or analyzing existing data. It has applications in various fields, including sustainability, where it can help organizations identify improvement opportunities and drive innovation.
2. How can generative AI contribute to sustainability efforts?
Generative AI has the potential to revolutionize data-driven sustainability by helping organizations identify improvement opportunities, drive innovation at scale, and transform trade-offs into win-win scenarios. It enables businesses to embed sustainability practices throughout their operations, leading to long-term value creation and a more sustainable future.
3. What are the benefits of investing in generative AI for sustainability?
Investing in generative AI for sustainability can lead to a range of benefits, including improved revenue from sustainability efforts, outperforming peers in terms of profitability, and contributing to a greener and more prosperous future. By embracing AI technologies, organizations can unlock new opportunities for sustainable growth and innovation.
Sources:
– IBM Institute for Business Value (IBV) study: [www.ibm.com](https://www.ibm.com)
– PTI news article: [www.ptinews.com](https://www.ptinews.com)
A recent study conducted by the IBM Institute for Business Value (IBV) has highlighted the increasing recognition of generative Artificial Intelligence (AI) in sustainability efforts by top executives. The survey, which involved 5,000 C-suite executives across 22 industries and 22 countries, revealed that 63% of respondents believe generative AI will play a crucial role in their sustainability initiatives. This statistic emphasizes the growing importance of AI technology in driving sustainable practices.
Generative AI has the potential to revolutionize data-driven sustainability by helping organizations identify improvement opportunities, drive innovation at scale, and transform trade-offs into win-win scenarios. This emerging technology allows businesses to embed sustainability into their core operations, rather than treating it as an add-on. By integrating sustainability throughout their practices, organizations can create a more sustainable future.
The study also found that 76% of executives surveyed expressed their intentions to increase their investment in generative AI for sustainability. This signifies the growing confidence in the potential of AI to enhance long-term value creation and pave the way for a greener and more prosperous future. Increased investment in generative AI indicates that organizations are recognizing the benefits of incorporating AI technology into their sustainability strategies.
Sandip Patel, Managing Director of IBM India Private Limited, emphasized the significance of integrating sustainability into core business practices. He highlighted the commitment from businesses to invest in generative AI for sustainability as a promising move towards a greener and more prosperous future. This shows that organizations are understanding the transformative role that sustainability can play in driving business success.
However, the study also shed light on the challenges organizations face when it comes to funding sustainability investments. In India, 47% of respondents reported struggling to secure funding for sustainability initiatives, despite the majority agreeing that sustainability drives better business results and is central to their business strategy. Securing funding remains a key obstacle for organizations seeking to implement sustainable practices.
To achieve sustainable growth, organizations need to go beyond viewing sustainability as solely an accounting or reporting exercise. Instead, they should embrace it as a transformative opportunity. By fully integrating sustainability into core business practices and operationalizing it in innovative ways, organizations have the potential to significantly increase their business value.
For more information on the study conducted by the IBM Institute for Business Value, visit their official website here. Additional insights can also be found in a news article by PTI here.
Frequently Asked Questions (FAQ)
1. What is generative Artificial Intelligence (AI)?
Generative AI refers to a form of artificial intelligence that can create new and unique content or ideas, rather than simply replicating or analyzing existing data. It has applications in various fields, including sustainability, where it can help organizations identify improvement opportunities and drive innovation.
2. How can generative AI contribute to sustainability efforts?
Generative AI has the potential to revolutionize data-driven sustainability by helping organizations identify improvement opportunities, drive innovation at scale, and transform trade-offs into win-win scenarios. It enables businesses to embed sustainability practices throughout their operations, leading to long-term value creation and a more sustainable future.
3. What are the benefits of investing in generative AI for sustainability?
Investing in generative AI for sustainability can lead to a range of benefits, including improved revenue from sustainability efforts, outperforming peers in terms of profitability, and contributing to a greener and more prosperous future. By embracing AI technologies, organizations can unlock new opportunities for sustainable growth and innovation.
Sources:
– IBM Institute for Business Value (IBV) study: www.ibm.com
– PTI news article: www.ptinews.com
The source of the article is from the blog cheap-sound.com