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Leveraging Technology in Sustainability Drives Business Profit

Enterprise Technology Review | Wednesday, November 20, 2019

The latest technology trends reform how businesses work and how they can find a competitive edge in a fast-paced marketplace.

FREMONT, CA:  From retail to transportation to entertainment, the technology revolution is taking place in almost every industry platform. Technology is highly useful in improving a company's environmental performance. Below given are some of the ways technology can be utilized in sustainability, which help reduce risk and bring profit and efficiency to the businesses.

Technology and measurement

Sensors technology are not new, but their use cases have increased in recent years. According to a recent research by global environmental sensors, the sensor market is predicted to be worth more than $3 billion annually by 2027.

The sensors are making it better and affordable for the organizations to detect, visualize, and also manage a wide variety of environmental impacts.

Technology reduces risk

Sensor Technology

The climate risk analysis industry is also on the hike. For instance, Jupiter Intelligence has recently raised $23 million to expand and improve its business to new areas like wildfire risk assessment for the organizations and cities. Companies like AT&T are utilizing supercomputers to analyze climate change risk and inform business decisions. The company is collaborating with the United States Department of Energy's Argonne National Laboratory to construct climate model datasets that help zero in one extreme weather risk.

Technology and efficiency

Google utilizes artificial intelligence (AI) and machine learning to use less energy, minimize energy bills, and minimize emissions. Its DeepMind team uses AI to reduce the amount of energy for cooling in their data centers by up to 40 percent. The company also uses these machine learning algorithms to utilize the power of wind energy by predicting the wind up to 36 hours in advance and providing optimal hourly delivery commitments to the power grid.

Looking forward

Technology is playing a vibrant role in helping companies find solutions to the most pressing environmental challenges. The majority of organizations and business leaders are already investing in cutting edge technologies to drive growth and maintain their competitive edge. Besides, the organizations were missing out on the opportunity to leverage the techniques to enhance environmental performance.

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