The article is first appeared in The Economic Times on Nov 28, 2024.
A recent study by IBM reveals that nearly 98% of Indian business leaders surveyed plan to boost their investments in IT for sustainability over the next 12 months. The report highlights that most respondents view IT investments not just as a means of fulfilling environmental responsibilities, but as essential for long-term business resilience (61%) and enhancing brand reputation (64%).
Sandip Patel, Managing Director of IBM India/South Asia, emphasized that AI is becoming a key driver of responsible business growth, particularly in the context of sustainability. “As sustainability becomes a core aspect of business growth strategies, AI is emerging as a game-changer,” Patel stated. “India is quickly establishing itself as a leader in AI-driven sustainability, with businesses seeing sustainability as a strategic lever for transformation,” he added. The research shows that AI’s role in sustainability is overwhelmingly positive, with 90% of global executives believing it will contribute to meeting their sustainability objectives. Notably, 96% of Indian business leaders agree that AI can play a significant role in helping achieve their sustainability goals.
The survey also highlights the increasing use of AI in Indian companies, with 64% of businesses already leveraging AI in their sustainability initiatives. This widespread adoption demonstrates India’s commitment to integrating AI for sustainable innovation. However, Indian companies face a key challenge in managing water usage, which the report highlights as a priority area.
Brand reputation (64%) and long-term business resilience (61%) motivate Indian businesses to make IT investments for sustainability. The report also found that 81% of Indian business leaders take a proactive stance on climate resilience, while 54% make investments in sustainability driven by opportunities. Furthermore, 79% of Indian companies have robust systems in place to monitor and track their sustainability objectives through data-driven insights.
The 2024 State of Sustainability Readiness Report, conducted by Morning Consult and sponsored by IBM, surveyed 2,790 business leaders and decision-makers from 15 industries across nine countries, including India. The findings highlight India’s forward-thinking approach to sustainability and the growing role of AI in helping companies meet their environmental goals.
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Reference: The Economic Times