As a result, in less developed countries
Posted On August 6, 2020
Artificial Intelligence is not only about predicting and modeling sustainable development initiatives – it also allows refining ESG reports. While information on sustainability is flooding the market, AI is allowing the company to sift through these massive datasets at unmatched speed. Along with the growing understanding and demand for ESG data, the need for artificial intelligence to perform mass analyzes of partial data is increasing, which allows for setting new directions for the development of companies.
INTERNET OF THINGS
The Internet of Things is one of the technologies that will bring about the greatest changes for the global economy over the next decades. Projects that harness the potential of the Internet of Things can help meet the UN’s Sustainable Development Goals (SDGs), thanks to their global reach and the connection of people and things previously impossible to achieve. As a result, in less developed countries, the standard of living of the inhabitants will increase, while using sustainable development – from smart cities to clean energy – this is where the greatest opportunities for companies that want to help in the implementation of MDG in the world are hidden.
Projects that harness the potential of the Internet of Things
The tremendous pace at which data will be produced and analyzed in the near future means the need to create more powerful tools and support systems that will allow companies to build or structure ESG problem solving strategies. Collecting this data in one system in order to capture valuable information for the company’s business strategy and sustainable development is necessary to then be able to pass it on to stakeholders. Predictive analytics technologies can identify ESG problems, flag risks, and estimate the performance level of a company’s sustainability versus competitors.
In today’s world, the amount of data on ESG and sustainability is huge. Advances in technology will allow companies to aggregate and analyze this information at a previously impossible level. The challenge for companies now is to best understand and use these technologies to obtain strategic and valuable information that can result in long-term and sustainable development. The role of trade in social and business life
History teaches us that people have always wanted to travel and trade, and this desire has fueled global growth and has allowed millions of people to rise out of poverty. The earth’s population has more than doubled over the past five decades. At the same time, the percentage of people living in extreme poverty has dropped from 50 percent to just 9 percent. Trade played a key role in this achievement.
Trade will go on because people want it
When people get more opportunities through trade, businesses grow, people prosper, and local communities thrive. In opposite circumstances – as we saw during the Great Depression of the 1920s and 1930s, household incomes are falling, and so is the quality of life. This is in part due to the emerging new trade barriers.
- The current tensions in global trade relations force us to consider whether we want to limit trade opportunities or move towards sustainable trade that releases significant economic value.
- We should not allow the willingness to conclude perfect trade deals to block us from making better, more durable agreements that create new opportunities. Trade will go on because people want it. They want to communicate with each other.
Today, the desire to trade and build relationships between people and communities is stronger than ever. Thanks to the ever-expanding digital economy, almost anyone who uses a mobile phone can trade in new markets in seconds. A more developed digital economy translates into greater purchasing power, faster economic growth and a higher standard of living. Physical and digital networks begin to intertwine
This phenomenon has never been as important as it is today, in times of a dynamically growing population. Society as a whole is becoming richer and better connected. Digital networks connect people all over the world. Physical networks connect countries, companies, and individuals. Both of these paths intertwine more and more: e-commerce and logistics are developing, goods bought online must physically reach the buyer. Thanks to global markets, people can grow, move forward, trade, travel and flourish.
Trading is lucrative – especially for small businesses
The availability of markets and online trading are transforming global trade. Global online retail value is expected to exceed $ 4 trillion in 2020. When new products and ideas can be easily launched into global markets, everyone benefits. However, small and medium-sized companies benefit in particular. Governments are seeing this more and more. The European Commission sees SMEs and the development of entrepreneurship as crucial for economic growth, development of innovation, creation of new jobs and social inclusion. After all, many “big” corporations started out as small companies. It was access to global markets that made them possible for their success and growth.
Trade removes barriers
Trade makes us live more prosperously. The global economy has become extremely complex and relies on long supply chains. Improvements such as the international flow of data and goods support importers and exporters around the world.
This is why significant new initiatives, such as the EU-Japan trade agreement, are gaining momentum. At the same time, trade faces new barriers in various countries. This is a retrograde step that reduces the competitiveness of imports and exports. We believe that trade, both inside and outside the EU, will continue to be the basis of economic growth and improved quality of life. These goals should be supported through balanced, compromise trade agreements.
History proves that trade has made the world a better place. So it is not worth changing a winning strategy. KEY AREAS IN ACTIONS FOR SUSTAINABLE DEVELOPMENT
Our actions for sustainable development depend on what our stakeholders consider important. We maintain a constant dialogue on various levels with our customers, employees, suppliers, authorities and neighbors of our plants. At the same time, we follow events on the world stage that affect our clients and our industry. Dialogue and materiality analysis led to the definition of six key areas.