Technology has always been a driving force behind progress, and the field of sustainability is no exception. In fact, over the past few years, there have been some remarkable technological advancements that are making it easier than ever before for corporations to become more sustainable.
These advancements come with a wide range of benefits, from reducing costs to improving public image. In this article, we will take a closer look at some of the most impactful technological advancements in corporate sustainability and how organizations can take advantage of the increased productivity and efficiency they provide.
Investments in Industry 4.0 Technology
Industry 4.0, also known as the Fourth Industrial Revolution, is a term used to describe technologies like artificial intelligence, machine learning, robotics, and automation impacting business and society. These advancements have created new opportunities for companies looking to improve their sustainability efforts by reducing waste and improving energy efficiency. The more time spent driving innovation forward instead of fighting fires from legacy systems will further increase these gains even as costs decrease due to economies of scale.
In addition, investing in Industry 4.0 also allows corporations to monitor every aspect of their infrastructure with sensors that can provide real-time information about how much energy they're using at any given moment – allowing them to take immediate action if there's an issue such as high usage rates during peak hours.
For manufacturing plants and warehousing facilities, the ability to rely on cloud-based inventory systems, AI technologies, and handled IoT devices and sensors has already exponentially reduced waste and improved efficiency – all while reducing costs and supporting organizations' ability to support eco-friendly initiatives.
Better Visualization of Company Objectives and Key Results (OKRs)
Companies need to clearly define their objectives and key results (OKRs) for each project or initiative so that employees can be held accountable for meeting them.
The more granularly these are defined, the better – it's possible even at an individual level, thanks to new software solutions. These platforms provide powerful visualization capabilities that allow teams across departments in large companies to track progress towards sustainability goals daily without having any confusion about what needs to be done and when. The result is greater transparency between divisions within organizations and stakeholders outside of them.
Blockchain Technology Advancements
One of the most exciting and potentially disruptive technological advancements for sustainability is blockchain technology. Blockchain is a distributed database that allows for secure, transparent, and tamper-proof transactions between two or more parties.
This new technology has proven to be a game-changer for supply chains as it makes it possible to track products from origin to destination in a way that has never been done before. Blockchain also allows customers to know exactly where their products came from and how they were produced – giving them the power to choose which companies they want to support with their money.
While there are still some kinks to work out in the technology itself, blockchain presents an incredible opportunity for large corporations looking to improve their sustainability efforts by ensuring transparency throughout their entire supply chain.
Improved AI-Driven Automations and Predictive Analytics
Artificial intelligence is already making a big difference in corporate sustainability by automating repetitive tasks that humans do manually. For example, some companies are using AI-driven automation tools for things like scheduling meetings with clients or sending out email newsletters at specific times of day when they know their audience will be most receptive; this allows employees more time spent on other projects instead of having to complete these types of routine tasks themselves.
AI also makes it possible to monitor information and make predictions based on data gathered from various sources – which means less waste because resources aren't being allocated inefficiently. For example, suppose an organization has been using solar panels, but they're not getting enough sunlight because of clouds or other weather conditions. In that case, AI could predict this outcome and recommend using a different renewable energy source for the interim.
This type of analysis has also been used within manufacturing environments to predict how much material will be needed for production without overbuying items that will get used up anyway. Additionally, waste reduction in today's climate is critical, and AI is proving to be a valuable tool in helping global initiatives toward that end.
Technology has advanced in many ways that help us become more sustainable. These advancements include better visualization tools for organizations to track their sustainability goals, blockchain technology that makes it possible to transparently log details about products from origin until the end-user receives them, and AI-driven automations that reduce waste through predictive analytics.
The best part is these technological advancements are still relatively young, and there is so much more potential to see improvements in the near future. As industries grow and organizations evolve along with them, sustainability will become more and more critical.