The biggest challenges that we face today will require all of us to take action, no matter what sector we work in. People may ask why companies in 2020 should be bothered with sustainability as it would be their main focus to make money. However, we should not underestimate the power of consumers in 2020. Today, consumers have access to more information and data than ever before. They are well-educated on what they want and what they are passionate about and they know how to get it quickly. However, we have seen a shift in the criteria that consumers are looking at when it comes to digital products. There are a growing number of consumers that are not making a decision on price anymore. They are looking closely into brand representation and what they stand for.
This also goes for employees. Employees are taking care to join companies that align with their values which adds an additional layer to the employment process and employee retention. They are choosing companies that align with their ethos on the environment specifically. Simply, companies will not succeed long term unless they make a positive contribution to society as a whole.
Our CEO at Borne addressed this in his article on Digital Transformation, this shift in tech and how it is affecting every sector. These changes are altering the world around us so quickly that all companies have to undergo a transformation to avoid complete extinction. This transformation means the integration of digital products into all areas of your business will change how you deliver your digital product to your customer. Digitalisation and tech will help a business achieve this and maintain a highly agile process. However, transformation is also about a change of culture which requires a radical change of thinking. Just like any company cannot survive without digital transformation, this will require a human element of change too. While tech itself does come with its own environmental cost, digitalisation and tech plays a crucial role in developing solutions for a sustainable future.
An example of this, Google is using Artificial Intelligence (AI) and machine learning which allows the company to focus on consuming less energy, reduce emissions and cut energy bills. The DeepMind term at Google have used AI to reduce the amount of energy for cooling their data centres by 40%. They are also making use of machine-learning algorithms to harness wind power by predicting wind output 36 hours in advance and delivering optimal hourly delivery commitments to the power grid. Google have released a statement saying, “machine learning has boosted the value of our wind energy by roughly 20%, compared to the baseline scenario of no time-based commitments to the grid.”
While this sounds amazing, it needs a lot of transformation. Transformation inside companies by integrating digital technology and products into all areas of your business. Transformation of a company’s internal culture, with the leaders setting the tone of a company, embracing necessary change towards sustainable ethics. On the larger scale, industries are unpredictable. If we want to create a world where sustainability is an effortless part of everyday life, we should look beyond the corporate boundary and towards the communities you create in your business. In the end, transformation will succeed or fail because of people and the initiatives we take with the resources we have. It is up to us to use the technological advancements that come to tackle the world’s greatest challenges towards sustainability.