A recent survey by Alibaba Cloud reveals that a significant 84% of Singaporean businesses are captivated by the potential of digital technologies, such as artificial intelligence (AI) and cloud computing, to drive sustainable development. However, 85% of these businesses express concerns over the high energy consumption associated with these technologies, which could hinder their widespread adoption.
The survey, which included over 1,300 businesses across Asia, Europe, and the Middle East, highlights that Singapore ranks second in interest in digital technologies for sustainability, trailing the Philippines (91%) but ahead of Indonesia and Thailand (both at 81%). Within Singapore, AI and machine learning are deemed the most crucial technologies for advancing corporate sustainability by 41% of businesses, followed by cloud computing at 37%, and collaboration and communication tools at 34%.
Despite this interest, 80% of Singaporean executives feel their organisations are lagging in adopting cloud computing and AI to meet sustainability goals. Furthermore, 83% acknowledge a significant gap in understanding how digital technology can aid in achieving these objectives, a figure notably higher than the Asia average of 63%.
These findings underscore the dual challenge faced by Singaporean businesses: the allure of digital technologies for sustainability and the pressing need to address energy consumption concerns to realise their full potential. As companies navigate these complexities, the insights from Alibaba Cloud’s survey could serve as a catalyst for more informed decision-making in the pursuit of sustainable development.
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