On July 3, 2024, FPT Digital’s Consulting Director, Linh Pham Thanh Dai, stated that Artificial Intelligence (AI) is the optimal solution for addressing data-related issues, including ESG (Environmental, Social, and Governance) data. With reliable ESG data measured and analyzed by AI, managers can make more accurate and effective strategic decisions.
At the International CSR & Sustainability (ICS) Summit 2024 held in Ho Chi Minh City, Mr Linh, presented on the role of AI in revolutionizing Green Initiatives and Sustainable Development. The summit, themed “Embracing The Green Shift: Maximizing Business Opportunities In Sustainability,” attracted over 300 delegates from various industries, with more than 70% being business leaders.
According to Mr. Linh, AI is the optimal solution to address data-related challenges, including ESG data. With reliable ESG data measured and analyzed by AI, managers can make more accurate and effective strategic decisions.
However, statistics show that 53% of businesses lack consistent and reliable data, and 70% lack standardized data, creating barriers to effectively analyzing and implementing ESG strategies. Seizing this trend in a timely manner will provide businesses with a significant competitive advantage.
One effective application of AI in the ESG field is creating ESG reports based on reliable data sources, enhancing the transparency of a company’s ESG strategy. In his presentation, Mr. Lĩnh provided specific examples of the benefits of such reports, including:
Risk management: Identifying and managing environmental and social risks, such as climate change, resource depletion, and labor issues.
Operational cost optimization: Identifying areas for improvement in resource usage, helping reduce waste and environmental impact, thereby saving operational costs.
Improved decision-making: Providing valuable data and insights into environmental and social trends, helping businesses make informed decisions aligned with sustainability goals and new regulations.
Transparency: Offering transparent information about sustainability initiatives to stakeholders, building trust and strengthening brand value.
Before applying AI to sustainable transformation, expert Phạm Thành Đại Lĩnh recommended that businesses first assess their readiness and internal resources to establish a suitable roadmap. The goal is to build a standardized, transparent, and reliable data foundation for the future.
