Sustainable airports: The burning need

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07:03 Minutes The average reading duration of this insightful report.

Primers

Primers: Primers are quick short form business reports that educate leaders on key emerging technologies.

Sustainable airports: The burning need

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The aviation industry is expanding rapidly, making it imperative to adopt sustainable practices. Airports worldwide are taking significant measures to reduce their carbon footprint, conserve natural resources and encourage social responsibility but still more needs to be done.

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What’s inside

  1. Establishing the need for sustainability
  2. Several areas of impact: not just carbon emissions
  3. Top areas to focus
  4. New initiatives to optimize footprint

The need for sustainable airports

The aviation industry contributes to global carbon emissions, with airports accounting for about 2-3% of that contribution. While this is not very significant and airports are committing to Net-zero, they impact the environment in many other ways. Airports consume significant amounts of energy and water and generate waste equivalent to small cities and contribute significantly to noise pollution leading to health disorders in the neighbourhood. Airports also promote economic growth through trade, tourism, job opportunities, support for local businesses, and regional development and hence a sustainable balance is the need of the hour.

Areas to focus for maximum impact

Airports around the world are recognizing the importance of sustainability and are implementing various eco-friendly initiatives to reduce their ecological footprint. Four key areas of focus have emerged: energy, waste, water, and noise. Some leading airports have already implemented sustainable initiatives, such as using recycled materials for construction and mandating the use of reusable tableware in food and beverage establishments. Emerging ideas include hydrogen fuel cells and bio fuels (for energy), AI and IOT Sensors for optimal water usage, hydrothermal liquefaction and AI/ML to detect recyclables for waste and AR safety programs and Noise insulation techniques for Noise impact reduction. Others need to assess their current state and take steps that best suit their situation. Download Complete Research

Credits
Author@lab45: Deepika Maurya

Latest stories

Sustainable technology: An urgent need

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15:13 Minutes The average duration of a captivating reports.

Primers

Primers: Primers are quick short form business reports that educate leaders on key emerging technologies.

Sustainable technology: An urgent need

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Technology both improves and harms environmental sustainability. It’s is a double edged sword. While emerging technologies such as Al, loT, AR/ VR and others are being used to help achieve sustainability goals, these technologies when put into mainstream adoption will leave a hefty environmental footprint.

What's inside

  1. The urgent need for sustainable technology
  2. A framework for sustainable technology in datacenters
  3. Implementing our sustainable technology framework
  4. Sustainable technology maturity model
  5. Bringing it all together

The urgent need for sustainable technology

If we continue on our current trajectory, datacenters will leave a huge footprint on our planet. Data centers contribution to Co2 Emissions will go up 12X by 2030 and their consumption of water will go up 17X in the same time. Needless to say, they will be huge contributors to E-waste in landfills.

A framework for sustainable technology in data centers

We have developed a framework based on the IT lifecycle consisting of a stack of building blocks. We believe this framework will help facilitate a comprehensive and structured implementation of a Sustainability strategy within the data center.It is quite intuitive and easy to identify potential actions that can be taken and what their impact would be. Download Complete Research

Implementing our sustainable technology framework

As organizations move with sustainable strategies, we highlight key insights that will help drive these strategies. We also identify metrics that can be used to measure progress.

The maturity model

We have painstakingly built a 5-level maturity model that can be used as a guideline to assess where the organization stands. We also give insights on what would be required to move to the next level.

Bringing it all together

We finally put this all together to see how organizations should approach their Sustainability journey.

Credits
Author@lab45: Hussain S Nayak, Sujay Shivram, Chandan Jha
Author@Wipro: Susan Kenniston

Top trending insights

GenAI revolutionizing banking: Opportunities and challenges

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GenAI revolutionizing banking: Opportunities and challenges

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GenAI is changing the banking industry through work automation, individualized customer experiences, and fraud detection. Operational cost savings from using GenAI chatbots in banking globally is 35 times more than not using GenAI. GenAI helps banks increase productivity, lower expenses, and enhance customer happiness.

What's inside

  1. Key Takeaways
  2. Reimagining banking through GenAI
  3. GenAI transforming banking landscape
  4. Challenges in GenAI implementation and their solutions

Key takeaways

Among industries globally, GenAI could add about $ 3.5 trillion annually in productivity on average, out of which the banking sector would be nearly 8 per cent. Banks are starting with applications in software development, chatbots and media content generation. GenAI has vast potential to execute business and technology processes autonomously. The operational cost savings from using GenAI chatbots in banking reached $7.3 billion globally. It is 35 times the operational savings without using GenAI. The integration of GenAI with virtual assistants has significantly enhanced customer support and experience. GenAI enables banks to automate crucial processes such as customer onboarding, fraud detection, and risk management. As a result, employees can concentrate on more intricate tasks, such as delivering exceptional customer support. The banking sector can significantly benefit from this, leading to an overall increase in efficiency. Download Complete Research

Reimagining banking through GenAI

Empowering customers through GenAI

  • GenAI enables banks to provide customized products, personalized financial advice enhancing the banking experience for customers.
  • GenAI automates and streamlines banking processes, reducing wait times and enhancing customer convenience.
  • GenAI helps banks strengthen security measures, protecting customers from fraud, unauthorized access, and identity theft.
  • AI-powered chatbots and virtual assistants provide round-the-clock customer support, offering prompt and reliable assistance.
  • Through efficient processes, enhanced security, and seamless support, GenAI enhances overall customer satisfaction with the banking experience.

GenAI transforming banking landscape

Corporate banking, retail banking and software engineering are the most value-creating functions with each providing a value of about $ 50 billion. The rest of the functions include wealth management, asset management, risk, IT and finance and HR. Download Complete Research

The diagram below shows the impact of GenAI on banks' functional architecture

Future trends in GenAI

GenAI is in nascent stage, but it has the potential for vast changes in banking. The following use cases are expected to prevail in future:

  • Financial forecasting: As GenAI will be able to integrate and analyze data from various sources in future, it will be able to identify data patterns and run simulations based on real-world context and hypothetical scenarios. It can help banks to make effective financial forecasts.
  • Generate financial advice for customers: Training GenAI on customers’ financial goals, risk-taking ability, income, expenditure. It can be used for budgeting recommendations. Also, it can help in smarter investment and wealth management and trading advice.
  • Minimize manual paperwork: Manually analyzing financial documents is costly and time-consuming. GenAI can be used to summarize large documents and significantly cut operational costs.
  • Regulatory code change advisor: GenAI will be used to make developers aware about underlying regulatory changes that will require them to change code. It can assist in automating the changes and providing documentation.
  • Manage risks and credit worthiness: GenAI will be used to create a more accurate picture of borrowers after analyzing vast amount of data from multiple sources.

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Credits
Author@lab45: Poonam Pawar, Hussain S Nayak

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