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AI’s Role in Sustainable Business Practices and Environmental Management

Author

Listed:
  • Prisca Ugomma Uwaoma

    (Department of Finance, Hult International Business School, Boston, USA)

  • Tobechukwu Francisa Eleogu

    (Total Energies Marketing Nigeria PLC, Nigeria)

  • Franciscamary Okonkwo

    (Onesubsea (a SLB CCompany), Nigeria)

  • Oluwatoyin Ajoke Farayola

    (Financial Technology and Analytics Department, Naveen Jindal School of Management, Dallas, Texas, USA)

  • Simon Kaggwa

    (Department of Finance, Hult International Business School, Boston, USA)

  • Abiodun Akinoso

    (Sheffield Hallam University, United Kingdom)

Abstract

This paper delves into the critical role of Artificial Intelligence (AI) in fostering sustainable business practices and enhancing environmental management. At the heart of this study is the exploration of how AI technologies are revolutionizing the approach towards sustainability in the business world, addressing environmental challenges with innovative solutions. This study aims to comprehensively understand AI’s integration, impact, and challenges in sustainable business practices and environmental stewardship. Through a methodological approach grounded in an extensive literature review, this study eschews fieldwork and statistical analysis, focusing instead on a qualitative synthesis of existing research. This approach facilitates a deep understanding of the historical evolution of AI in business, its response to global sustainability challenges, and the theoretical frameworks guiding its application in this domain. The findings reveal that AI significantly enhances energy efficiency, waste management, and sustainable supply chain operations. AI’s ability to process large datasets and provide actionable insights is instrumental in optimizing resource utilization and minimizing environmental impacts. However, the study also identifies key barriers to AI implementation, including data integration challenges, a lack of AI literacy, and resistance to technological change. Conclusively, AI emerges as a potent tool in achieving environmental sustainability goals. However, its full potential can only be realized by overcoming implementation barriers through collaborative efforts, robust governance, and ethical considerations. Future research is recommended to explore AI’s role in emerging sustainability areas and assess its long-term environmental impacts. The study concludes with a call for proactive engagement with AI technologies, advocating for their strategic adoption in pursuit of a sustainable and environmentally responsible future.

Suggested Citation

  • Prisca Ugomma Uwaoma & Tobechukwu Francisa Eleogu & Franciscamary Okonkwo & Oluwatoyin Ajoke Farayola & Simon Kaggwa & Abiodun Akinoso, 2024. "AI’s Role in Sustainable Business Practices and Environmental Management," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 10(12), pages 359-379, January.
    • Handle: RePEc:bjc:journl:v:10:y:2024:i:12:p:359-379
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    References listed on IDEAS

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    4. Assunta Di Vaio & Flavio Boccia & Loris Landriani & Rosa Palladino, 2020. "Artificial Intelligence in the Agri-Food System: Rethinking Sustainable Business Models in the COVID-19 Scenario," Sustainability, MDPI, vol. 12(12), pages 1-12, June.
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