Majority of firms see sustainability potential of AI

However, high energy consumption remains a concern as this may limit adoption.

Around 84% of Singaporean businesses are interested in the potential of digital technologies such as artificial intelligence (AI) and cloud computing in pushing for sustainable development.

According to Alibaba Cloud’s survey, Singapore ranked second in terms of interest, behind the Philippines (91%) and ahead of Indonesia (81%) and Thailand (81%).

Amongst these digital technologies, local businesses believe that AI and machine learning (41%) are the most crucial when advancing corporate sustainability, followed by cloud computing (37%), and collaboration and communication tools (34%).

However, the latest survey also showed that 85% of these businesses are concerned that the high energy consumption associated with these technologies could limit their adoption. There were also 86% who said that the high energy consumption may outweigh the benefits of these innovations.

The majority of the local businesses (83%) have acknowledged a gap in understanding how these innovations help achieve sustainability goals. Moreover, 80% of the executives feel their organisations are lagging in adopting cloud computing and AI to accelerate progress towards sustainability goals.

“This indicates a pressing need for organizations to accelerate their technological adoption to advance sustainability,” the poll said.

The survey also revealed the importance of selecting technology providers that prioritise sustainability. Over half prioritise those that use renewable energy (57%), have future commitments to innovative/sustainable products and services (51%), and maintain energy-efficient data centers (50%).