Some 26% of global companies cite ‘environmental impact’ as among their chief concerns regarding the growing use of AI technology, a new study by WSJ Intelligence, commissioned by NTT, has revealed.
However, the environment ranks fourth in terms of top concerns linked to AI, behind data privacy (cited by 70% of firms), cybersecurity hacks (38%), and compliance (33%). Other concerns cited include cost of maintenance (23%), energy requirements (22%), cost of scale (21%) and job displacement (19%).
Another question asked of respondents was whether companies ‘should make sustainability a priority if they want to maintain a competitive business advantage’. Some 47% of firms in the energy/manufacturing space answered that they should, as did 58% of firms in finance, 65% of firms in tech, and 55% of firms in telecommunications/CPG.
Also, when asked whether ‘executives focus too much on the benefits new technologies have to offer and do not think about the environmental implications’, 26% in the energy/manufacturing sector said yes, as did 46% in finance, 41% in technology and 36% in telecommunications/CPG.
AI to the forefront
According to the study, which polled 351 CEOs from high-revenue businesses, AI has emerged as the most critical technology for future profitability and competitiveness, with 89% of CEOs highlighting its importance and 77% planning to increase their AI budgets in 2025.
Around 70% of respondents expect an overall increase in their technology investments next year, with nearly half anticipating modest growth in generative AI spending and 29% foreseeing more significant increases.
‘Outstanding potential’
“These results make it clear that AI is poised to receive increased investment commensurate with its outstanding potential,” commented Vito Mabrucco, global chief marketing officer at NTT. “However, further conversations and global cooperation among business leaders, regulators, developers and the public are needed to realise an AI-empowered future that ethically and sustainably benefits all.”
Some 70% of respondents expect to increase their technology investments in 2025, with 48% anticipating an increase of between 1% and 10% in AI investment, and 29% expecting an increase of more than 10%. Read more here.
