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India Leads The Way With AI-Driven Sustainability
Majority of Indian businesses ramp up IT investments to support environmental initiatives
India is stepping up its game when itcomes to sustainability, and at the heart of this shift is the powerful influence of AI. Recent reports indicate overwhelming enthusiasm among Indian business leaders, with 98% planning to boost investments in IT focused on sustainability within the next year.
This information is part of the “State of Sustainability Readiness 2024” report released by IBM, which sheds light on how Indian companies are not just viewing sustainability as a responsibility but as a strategic advantage. According to the report, 61% of respondents believe such investments will bolster long-term business resilience, and 64% feel it will significantly boost their brand’s reputation.
Sandip Patel, Managing Director of IBM India/South Asia, remarked, “Today, India stands out as a leader in AI-driven sustainability. Business leaders across the country view sustainability as a strategic lever for transformation, and IBM is advancing AI solutions to help accelerate their sustainability goals.” Indeed, Indian executives seem quite optimistic about AI’s potential role; around 96% believe AI can positively impact their sustainability efforts.
AI technology is already being integrated by 64% of Indian businesses actively involved with sustainability initiatives. This demonstrates their commitment to innovative solutions to traditional problems, particularly climate-related challenges.
While businesses acknowledge the vast opportunities AI presents, they also recognize water usage as one of their most pressing challenges. The reports indicate large concerns surrounding this issue, signaling the need for targeted strategies. This awareness is coupled with the finding showing 81% of Indian leaders adopting proactive approaches to bolster climate resilience, and 54% implementing investments focused on opportunity-driven sustainability.
Interestingly, 79% of Indian business leaders report having well-established systems to track their sustainability goals using available data, showing significant progress in monitoring and improving their sustainability performance. The report also offers recommendations for business leaders on leveraging the right AI tools for their specific needs to help navigate the persistent challenges they face.
Generative AI, particularly, has been highlighted as particularly useful. This technology helps identify opportunities for reducing carbon emissions and offers tools for creating scenarios and algorithms for more sustainable practices. It can serve as the insights businesses need to tackle the climate crises head-on and transform their sustainability ambitions from mere ideas to real action.
Further backing the findings of IBM’s report is the UN Global Compact report which echoes similar sentiments about businesses prioritizing sustainability for the future of their operations. It underlines the increasing recognition of the need for organizations to invest heavily in IT solutions like generative AI to stay competitive and address the challenges posed by climate change.
Overall, as Indian industry adopts AI at this pace, it is clear they are not just focused on compliance but are actively pushing for transformative growth to meet sustainability goals. With the widespread acknowledgment of the importance of sustainability and recognized backing through technology, Indian companies are poised to set trends globally.