Is Digital Transformation the key to Create a Better Sustainable World?
Every industry around the world is reshaped by digital transformation. According to IT advisory and research firm IDC, by 2022, over 60% of global GDP will be digitized, with growth in every sector driven by digitally enhanced offerings, operations, and relationships. At the same time, there are important problems our world is dealing with, such as global warming, natural catastrophes and other environmental threats. These hazards, along with rising strains on the resources of the planet, are driving mainstream sustainability.
As the tension for increased environmental responsibility grows, digital technologies such as artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), and cloud computing are helping companies accomplish sustainable objectives in a variety of ways
- AI interconnects smart cities with intelligent control, enhances emergency response, reduces pollution, protects resources and endangered species, makes renewable energy more accessible, and helps to make green and sustainable effective dwellings.
- Data analysis and ML systems improve agriculture/irrigation facilities and simplify biological concern, such as carbon leakage detection or energy – wind power renewable energy predictions.
- By automating e-waste processing, robotics and IoT ecosystems are enabling manufacturers extract benefit from recycling.
Possible Challenges and Recommendations for Improving the Awareness of Digital Transformation
Nonetheless, there are two sides to any coin. Accessibility in the digital age may create threats and risks to various industries, such as the failure of equitable internet access, the lack of a global system for information technology, and the risk of cybersecurity. There are also fears about the environmental consequences of digital technology, such as the overwhelming percentage of e-waste and the amounts of harmful chemicals produced, as well as the illegal use of digitalization. However, by developing possibly the best digital risk management and structure, the risks are assumed to be mitigated.
As per reports of Gresb, With reference to the report prepared by Deloitte, Deloitte’s digital risk framework considers 10 risk areas, including strategic, technology, operations, third party, regulatory, forensics, cyber, resilience, data leakage, and privacy. Based on the applicable risk areas for digital initiatives, different control measures will be designed as per leading standards and industry practices. Despite all the challenges and risks that the evolving environment presents, corporates cannot overlook the opportunities that ‘moving to digital’ brings forth along with the profound impact that it shall have on them.
Obstacles to the gauging of a circular environment
Development towards a more sustainable,’ circular’ environment has been restricted to developers and first-moving global firms. There are a variety of common acceptance hurdles, ranging from the geographical dispersion of supply chains to the difficulty of materials and goods being deconstructed. Developments in digital and technological innovations provide enterprises with the ability to conquer these obstacles. Machine-to-machine and data analytics allow businesses to balance the market forces for resources and goods that are underutilized. The ‘cloud’ can disintegrate goods or even whole industries, in conjunction with mobile and social media. In addition, 3D printing provides opportunities for environmentally friendly manufacturing inputs.
Therefore, with environmental issues affecting everyone, all businesses have an obligation to do their best and evaluate how things are carried out and see whether meaningful changes can be accepted. The ultimate goal is simple: reduce the effect on future generations of environmental issues and technology will serve as a catalyst. With further thinking on how technology can be used as an accompanying instrument for sustainable development, the expectation is that the future will become a greener environment.