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Generative AI can help companies achieve ESG goals by translating sustainability data, automating compliance and improving collaboration. According to Cognizant, companies are increasingly using generative AI to meet
Generative AI can help companies achieve ESG goals by translating sustainability data, automating compliance and improving collaboration.
According to Cognizant, companies are increasingly using generative AI to meet environmental goals and complex ESG reporting requirements. The technology helps translate sustainability data into concrete business insights and helps improve internal collaboration. The finding casts (generative) AI in a different light, as the technology’s explosive popularity is often accompanied by concerns about sustainability.
Many companies encounter hurdles when integrating ESG strategies because departments such as purchasing, IT and production often operate separately. Generative AI can bridge this gap by making data accessible to the entire organization. This is noted by Gregory Verlinden, Associate Vice President Analytics & AI at Cognizant.
“Generative AI offers us the opportunity to make data not only transparent, but also accessible to everyone in the company,” says Verlinden. “This means decisions can be made more quickly and based on current information.”
The technology not only supports data collection but also checks deviations and predicts trends. This allows companies to adapt their sustainability strategies more efficiently to market dynamics. According to experts at Cognizant, this helps make ESG goals not only measurable but also more actionable.
With new regulations such as the Corporate Sustainability Reporting Directive (CSRD), the need to share detailed sustainability information is increasing. Generative AI can automate compliance processes, reducing workload and reducing the risk of errors.
“At Cognizant, we see that AI can play a strategic role in setting up and maintaining ESG reporting systems. “It’s not just about compliance, but also about how companies can distinguish themselves through a proactive approach to sustainability,” says Verlinden.
Additionally, AI provides insights that can prevent miscommunication between departments. By translating data into concrete financial and operational benefits, it becomes easier to build support for sustainable initiatives. Examples of this include cost-benefit analyzes of sustainable investments and predictive analyzes of future sustainability challenges.
Generative AI appears to play a key role in achieving ESG goals. It enables companies to better understand their sustainability efforts and align them with strategic business goals. Whether it’s regulatory compliance or insights into sustainability measures, companies that use this technology can respond more quickly to changing market conditions, according to Cognizant. It is therefore necessary that generative AI itself is treated sustainably.
Source: IT Daily
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