The current challenges facing humanity include those relating to geopolitics, climate crises, high inflation, and COVID-19 after-effects. All these are pushing back the process to achieve the SDGs as only 17% of the set targets are likely to be achieved by 2030. Global leaders now face these crises and the gap between actions and resultant impacts increases.
Technology advancements and specifically the emergence of generative AI also presents a glimmer of hope. Responsible development and deployment of Gen AI could be pivotal in fast-tracking progress on the SDGs.
Gen AI can also provide some focused information, enabling cross-disciplinary innovation and productivity; it can assist businesses understand the challenges of sustainable development. The private sector already accounts for 60% of world GDP and will drive the change forward. Private sector companies will create positive impacts in terms of Gen AI efforts and SDG goals.
Companies are already exploring Gen AI applications involving, for example, optimizing logistics, enabling circular economies, or enhancing customer engagement through extended product lifecycles toward sustainability. These innovations will aim to un-tighten the links between economic growth and resource consumption.
On the other hand, there are risks associated with Gen AI in terms of data privacy or other effects that are surely serious and must be appreciated. If they are not managed well, these could outweigh the regulatory framework and expose the businesses operating within their risk levels.
To ensure that Gen AI adds up to positive contributions for sustainability, enterprise companies must install good governance and risk management practices. This entails not only the expected benefits the deployment of Gen AI is going to bring but also the potential downsides that could emanate from such deployment.
Accenture’s report prepared with the UN draws out four critical resources for executives, such as A Playbook for Implementing Gen AI Responsibly and guidelines on how to align Gen AI with corporate objectives on sustainability.