Business leaders in Singapore trust bots to make sustainability decisions
Oracle’s No Planet B study has found that the top challenges when implementing environmental, sustainability and governance (ESG) initiatives are the time-consuming manual reporting processes, lack of data, and obtaining ESG metrics from partners and third-parties.
Most business leaders in Singapore also admit that human bias and emotion often distract from the end goal. As such, 97% would trust a bot over a human to make sustainability and social decisions. They believe bots are better at predicting future outcomes based on metrics/ past performance (52%), collecting different types of data without error (51%), and making rational, unbiased decisions (49%).
However, people are still essential to the success of sustainability and social initiatives. The Singapore respondents believe people are better at educating others on the information needed to make decisions (55%), implementing changes based on feedback from stakeholders (54%), and making context-informed strategic decisions (43%).
“Business leaders understand the importance of ESG, yet often have the erroneous assumption that they need to prioritise either profits or sustainability. The truth is this is not a zero-sum game. Organisations that [leverage technology to] get this right can not only support their communities and the environment, but also realise significant revenue gains, cost savings, and other benefits that impact the bottom line,” says Juergen Lindner, Oracle’s senior vice president and CMO, Global Marketing SaaS.