Whether it's hybrid working, the cloud, AI, IoT or the increasing threat of cyberattacks - the multitude of digital adjustments poses major challenges, especially for small companies. In addition, there are ever-increasing demands for sustainable business practices. But this is precisely where there are great and very worthwhile opportunities for companies that act now. The importance of sustainability for consumers, for example, is growing rapidly. It already plays a major role in purchasing decisions today and will become increasingly important in the future. Many companies have long paid attention to their ethical principles and ecological footprint when selecting their suppliers and partners. Corporate governance and reporting in line with statutory CSR guidelines also influence investors' decisions. Green washing and social washing, on the other hand, jeopardize a company's credibility. The social divide as well as ethics and human rights are coming more into focus: social commitment and integration are becoming increasingly important for companies. And are also increasingly playing a role for employees when choosing a career.
The good news is that digitalization helps with many of these aspects. According to a Bitkom study, for example, almost half of the required CO2 savings in Germany by 2030 can be achieved through digital technologies. Those who implement digital solutions in a targeted manner can automate processes, increase efficiency and thus reduce emissions. ESG management platforms, for example, make sustainability in companies transparent and help to meet compliance and regulatory requirements. Transparency is the basis for sustainable corporate management: only those who can measure their sustainability can take action. Data obtained through IoT and analyzed by AI provides information on where energy and resources can be saved in the manufacturing process or in logistics. According to the Pathfinder Study 2023, 87% of German companies recognize the potential of digital solutions to reduce environmental impact, cut costs and improve product quality. And 74% of CEOs say that the motivating factor for setting up an ESG strategy is to increase their turnover in the future.
The changes are not always easy and require adjustments. But the opportunities outweigh the risks: they can help to positively influence our society and offer us a more sustainable and fairer world in the long term. Only with innovation, courage and the willingness to tackle these challenges can we exploit these positive aspects of transformation. DIGITAL X offers the business community a platform to obtain comprehensive information on the megatrend of sustainability and responsibility and to make valuable contacts.
