It seems that the bit by bit, and little by little, businesses are adapting to the shift to a more renewable and sustainable economy. So, let's explore how this is playing out. But first, this week's signals...
Signals from the future:
Emerging trends that are likely to drive changes to the way we live, work and do business.
Sustainability:
- What Will It Take to Save Our Cities from a Scorching Future? - Yale E360 - Improving global heat resilience in cities is crucial to protect populations from extreme heat-related health challenges and requires increased funding and stakeholder collaboration.
- Algae could be key for better plant-based foods - Futurity - Innovative use of cyanobacteria to create sustainable, plant-based protein fibres for enhanced texture in meat and cheese alternatives.
- Job title of the future: Climate equity specialist - MIT Technology Review - Equitable climate solutions through community engagement and grassroots initiatives, targeting marginalised groups for sustainable impact and greenhouse-gas reduction by 2025.
Society
- 3D printing affordable, sustainable and resilient housing in Alaska - The interdisciplinary team from Penn State was awarded HUD grant to fund their contributions to a multi-institutional effort to explore viability of 3D printing homes with concrete - Innovative 3D printing technology to revolutionise affordable, sustainable housing in rural Alaska, addressing critical housing shortage with resilience and efficiency.
- Wendy's Bold Move: Dynamic Pricing Strategy Set to Transform Fast-Food Industry - BNN - Innovative dynamic pricing strategy by Wendy's challenges industry norms, emphasising the importance of technology and customer communication for sustained success.
- How First Contact With Whale Civilisation Could Unfold - The Atlantic - Unlocking the mysteries of whale communication through AI-led research, exploring the ethical implications of interspecies dialogue and its impact on understanding and coexistence.
Tech / Robots:
- Amazon’s Billion-Dollar Investment Arm Targets Generative AI in Robotics - Singularity Hub - Investing in AI and robotics startups, Amazon's focus on generative AI has potential to revolutionise industries with innovative applications beyond text and image generation.
- Amazon's humanoid warehouse robots will eventually cost only $3 per hour to operate. That won't calm workers' fears of being replaced. - Business Insider - Humanoid robot Digit by Agility Robotics is being tested by Amazon in warehouses to collaborate with human workers, aiming to reduce costs and improve safety.
- Astronauts celebrate success of 1st surgery robot on ISS: 'It's a real game-changer' - Space.com - Breakthrough in space medicine with robotic surgical system on ISS paves the way for remote surgeries on long-distance missions.
- Newo.ai’s ‘digital employee’ merges AI agent with robot - VentureBeat - Revolutionary blend of AI agents and physical robots as "digital employees" streamlines office tasks, redefining work dynamics with cost-effective efficiency.
Focus Issue - The impact of renewables on business strategy.
The world is shifting towards renewable energy, and this change is having a profound impact on business strategies. For instance, Australia's climate change strategies focus on reducing emissions and supporting renewable power, which includes upgrading the electricity grid and reducing the price of electric vehicles.
This shift towards renewable energy is not just happening in Australia. Companies worldwide, such as BP Integrated Energy Company, are increasing their investments in renewable energy sources like bioenergy, EV charging, hydrogen, and renewables.
This trend towards renewable energy is forcing businesses to become more environmentally friendly. Governments are helping businesses to focus on operating in a sustainable manner, minimising damage to the environment, and using renewable resources. This shift towards sustainability can have several benefits, including meeting the needs and expectations of environmentally conscious customers, developing a positive reputation, and gaining a competitive advantage over non-environmentally friendly competitors.
The shift towards renewable energy is also having an impact on the supply chain. In response to US policy developments, The U.S. Department of Energy and the National Renewable Energy Laboratory are working to enhance the resilience and sustainability of the supply chains for clean energy technologies, such as electric vehicle batteries and solar panels. These shifts, by the nature of the huge economic size of the US, will drag along many other economies in a similar fashion.
This is part of a broader global effort to strengthen the clean energy supply chain through international cooperation. The shift towards renewable energy is also leading to the creation of new energy businesses. However, these businesses face a strategic dilemma between creating independent new ventures or integrating these into their existing operations. This decision can have a significant impact on a company's ability to stay competitive in the new energy landscape and will likely see the exit of those companies who choose not to move to a more sustainable future.
The shift towards renewable energy is also leading to an increased focus on digital transformation and data-driven decision making. For instance, artificial intelligence (AI) is being used to address the climate crisis and accelerate solutions. AI can improve weather models, optimise resource allocation, and speed up scientific discovery by processing large datasets and running digital experiments faster than humans.
The shift towards renewable energy is having a profound impact on business strategies. It is forcing businesses to become more environmentally friendly, impacting the supply chain, leading to the creation of new energy businesses, and increasing the focus on digital transformation and data-driven decision making. This shift towards renewable energy is likely to continue in the future, and businesses that can adapt to this change will be better positioned to succeed.
Consider these strategic insights:
- Strategic integration of renewables: Australian businesses should consider a dual approach of creating independent renewable ventures while also integrating renewable technologies into existing operations, leveraging their current market position and expertise to compete in the new energy landscape.
- Supply chain resilience: Focus on building more resilient supply chains by partnering with local manufacturers and investing in domestic production of clean energy technologies, such as batteries and solar panels, to mitigate risks of global disruptions.
- ESG alignment: Develop and align Environmental, Social, and Governance (ESG) strategies with business goals, ensuring transparency in sustainable practices which can enhance stakeholder trust and open up new investment opportunities.
- Digital transformation: Embrace digital transformation by utilising artificial intelligence and data analytics to optimise energy resource allocation, improve weather modelling for renewable energy operations, and enhance overall decision-making processes.
- Workforce development: Invest in workforce development and training programs to ensure that employees have the necessary skills for emerging renewable technologies, which can drive innovation and maintain competitive advantage in the evolving energy sector.
Deep strategy:
Longer form articles rich with insights:
- What people get wrong in strategic planning – part 3: data sources and estimates - Center for Simplified Strategic Planning - Strategic planning often relies on data sources and estimates, highlighting the importance of using own data, proxy data, and estimates for accurate insights.
- Using futures design to consider multi-species environments - Futurist.com | Futurist Speaker - Innovative project rethinks water management with non-human perspectives, speculative design, and collective intelligence, shaping future policy with empathy and creativity.
- How to Get People to Seize Opportunities at Work - Harvard Business Review - Leveraging behavioural economics can boost product adoption and program participation, challenging the notion of "build it and they will come."
Business at the point of impact:
Emerging issues and technology trends can change the way we work and do business.
- Scaling Automation: Two Proven Paths to Success - MIT Sloan Management Review - Implementing automation in organisations frees up employees from repetitive tasks, enabling a focus on higher-value work and ensuring scalability for future growth.
- 3 Questions: Shaping the future of work in an age of AI - MIT News - Empowering workers through technology and inclusive policies for a future where job quality and opportunities are not limited by educational background.
- 7 Paradoxes Of Artificial Intelligence - Forbes - Embracing AI entails paradoxes: reduces labour yet demands skilled talent, complicates development yet enhances automation, costs to implement but reduces IT costs.
- From principles to practice: Responsible AI in action - strategy+business - "Responsible AI implementation crucial for balancing benefits and risks, emphasising alignment with company values, accountability, and prevention of bias and misuse."
- Your Organisation Isn’t Designed to Work with GenAI - Harvard Business Review - Unlock the power of generative AI by embracing it as a collaborative partner and integrating Design for Dialogue framework to enhance human-AI interactions.
- Companies Need To Get Onboard The Generative AI Train - Forbes - Embrace GenAI for competitive edge: 85% increasing AI budgets, but only 10% leading in productivity gains. Evolve tech, skills, and processes for success.
- 3M has a ‘future of work manager’ - here’s why her goal is to work herself out of a job - Fortune - Empowering a global workforce through trust-based flexibility and AI integration, aiming to render traditional work roles redundant through innovative people management.
- The Dos and Don’ts of Regulating AI - Kellogg Insight - Balancing innovation and risk in AI regulation through nuanced policies for societal welfare and technological advancement.
- Organisations need a business-driven AI strategy, not a CAIO - SiliconANGLE - Leveraging AI effectively entails integrating it into business strategies through a dedicated role, rather than creating a Chief AI Officer position.
- Building Culture From the Middle Out - MIT Sloan Management Review - Empowering midlevel leaders to bridge organisational values with daily interactions is critical for cultivating a strong and authentic company culture.
