In a world constantly confronted by socio-environmental challenges, combining innovation with sustainability is increasingly necessary to preserve business and the environment. Consumers in Brazil not only support more sustainable means of production; they expect organizations to commit to applying them. FleishmanHillard’s 2021 Authenticity Gap report shows that the overwhelming majority of customers (75%) feel that Brazilian companies should have practices that contribute to environmental conservation.
It is essential to identify new ways of allocating technology investments to achieve better results for organizations and preserve the environment. But how? Is it really possible to create business strategies that accelerate growth and are eco-friendly? Absolutely. Below are three paths that organizations can take to drive innovation and sustainable growth.
1.Data analytics for team well-being
Traditionally, companies extract and analyze data to improve strategic decision making in sales, marketing, customer experience, and other aspects of their business. This same data analysis can be applied to internal processes to promote employee well-being.
Through data generated from employee surveys, organizations can obtain insights about employees’ ambitions and the challenges they face. They can use this information to better support employees, help them advance professionally, and build a healthier life.
2.Artificial intelligence as a vector of sustainability
There are many ways artificial intelligence (AI) can be employed to promote sustainability. AI can help businesses manage delivery routes for truck fleets to reduce fossil fuel consumption. It can be used to optimize lighting for energy-efficient buildings through smart sensors. Combined with predictive analytic tools, AI can predict consumption trends and changes in consumer habits to increase or decrease factory production lines.
3.Smarter supply chain
Artificial intelligence can also be used to improve warehouse management, which is often considered a bottleneck for logistics operations. Through AI algorithms, organizations can connect warehouses, stores, and distribution centers to ensure traceability of all products between these locations and in real time. With less time and fewer resources needed to monitor and retrieve goods, businesses can enhance inventory control, increase energy efficiency, and reduce raw material waste.
Consider the following situation: A pot of yogurt on the supermarket shelf is nearing its expiration date. For this reason, it will probably not be purchased and will therefore go to waste. Along with the carbon emitted by the production, packaging, and transportation of this product, discarding it will be produce more CO2 emissions.
To increase sustainability throughout product lifecycles, it is essential for businesses to optimize their supply chains from end to end and avoid product waste. AI, machine learning, date analytics can enhance inventory management and strengthen supply chains, while technologies like blockchain and connected devices (IoT) can improve treceability to ensure food is transported and stored properly.
The path for a company to become truly sustainable is long, but it is possible to shorten the journey by using technology and innovation as vehicles of transformation. An unprecedented level of collaboration between companies and governments will also be required. However, there is reason to remain optimistic. The next generations of leaders are passionate about sustainability and eager to innovate. By combining these drives, it seems possible to build a better, more sustainable future.