Artificial intelligence can help financial leaders create the timely insights needed to unlock exponential natural, social and economic value, according to a research by Ernst & Young.
For business leaders facing the increasing pace, scale and complexity of change, the challenge becomes one of data and decision-making: How can teams arrive at insight more quickly (context, content and access) to support faster and more responsible decisions? How can they leverage data to create new sustainability solutions in the timeframe that we need them?
Applying AI to detection, prediction and generation can help leaders create the timely insights needed to take bold steps with confidence on sustainability and unlock exponential natural, social and economic value.
AI’s exponential force comes not from singular breakthroughs but through the compounding effects of productivity and efficiency gains, and faster innovation over time.
By reducing the time and cost of creating all kinds of content and insight to essentially zero – a text prompt – GenAI allows us to produce more ideas, faster.
GenAI models can accelerate the R&D process by automating mundane tasks, allowing researchers to focus on ideation and complex problem-solving, and scaling the work behind researching, testing and iterating hypotheses and new designs. This will result in self-reinforcing acceleration in the development of new products, new services, and new techniques.
Resource stewardship: toward a net-zero planet
The transition to a net-zero economy that pulls us back from planetary boundaries depends on the creation of sustainable new products and technologies, the disruption of incumbent business models with sustainable ones, and the formation of a constellation of new business ecosystems.
The gamut of AI technologies has an accelerating role to play in resource stewardship:
- Enabling circular and equitable supply chains
- Reducing resource consumption
- Decarbonizing energy and mobility
- Accelerating sustainable product and service innovation
- Advancing materials science
- Protecting and enhancing biodiversity
Resilience and risk management: adapt and prepare
With significant climate impacts locked in for the near and medium term, enhancing community resilience and ensuring that infrastructure is built for our climate future will mitigate human costs and the risk of unpredictable cascade effects.
Our linear economic systems, infrastructure, legal agreements and operating assumptions were established for the most part on now far-outdated assumptions about climate and resource availability. As climate impacts continue to disrupt our expectations, AI provides new capabilities to model natural systems and predictively adapt, whether in cities, energy and resources networks, or global supply chains.
