ESG benefits of IoT

The discourse around topics like ESG or IoT is largely based on areas of interest depending on the industry you look at. In telco, IoT is the ESG solution. ESG does not solely focus on eco-friendly programs but rather on the holistic and inclusive approach to practices in work, academia, and daily life. The advantage in including that as part of a digital transformation agenda accelerates the process of more wide-spread adoption. 

The variations of solutions range in how centralized these systems can be – and this is where regulation really makes an impact on how successful pilot programs can be in more long-term adoption toward fully realizing smart cities. Some sectors can benefit from the integration that better connectivity can offer in their digital transformations. The pandemic showed us the true power of apps, handheld devices, and tech in ensuring public safety, the operations of utilities, finance, communications, and even the advantages it offers in incredibly complex domains such as public health.

Plenty of sectors are facing the same issue today: inefficiencies that are largely caused by oversight, mismanagement, or misguided market predictions influencing decision-making processes. These inefficiencies range in the parts of the economy they plague – insufficient staffing, funding, resources, and connectivity, which ultimately trickles down to the availability and applicability of digital transformation solutions for the public. Without connectivity, it is impossible to have connected things, without connected things it is virtually inconceivable to have smart cities, and without smart cities, the vicious cycle of insufficiencies continues while the global population increases. This poses an even greater challenge to the disparities already inherent in today’s global economy, and the availability of resources. Simple AI solutions to streamline supplies to meet demands can create resounding impacts on macroscopic scales. What will it take to see this become global? Connectivity. 

Two main sectors in the public realm that benefit from IoT advantages are Public Health and Utilities such as Water, Energy, and Connectivity. With the looming doubt about countries meeting the 2030 pledge, these sectors are the ones that are priority ESG assurances. For utilities, looking at consumption versus usage, the availability of resources to power utility grids and streamline supply is often where insufficiencies are most obvious. In a global economy facing a cost-of-living crisis, ensuring availability – without overuse or waste – is the biggest challenge to both consumers and vendors. AI-driven solutions like smart tech, and smart meters, can help ensure more accurate price points for consumers as well as ensure that rerouting resources are directed where they are needed.

In terms of public health and safety, access is the main barrier for communities that may not be able to afford private health care or are a reasonable distance away from a healthcare facility. AI-driven apps can help users and members of public health and safety facilities both localize and locate needs. This can have an enormous impact in situations involving individuals in remote areas in need of immediate help from local public services.