Empowering industrial workforces with AI to improve profitability and achieve net-zero carbon targets.
Smart Industry speaks to Josef Zankowicz, director of strategy and operations for Canvass AI about the ticking clock to take net-zero action, simple steps to get started and real revenue wins courtesy of this approach.
Smart Industry: How does a net-zero ambition affect the larger business strategy?
Josef: Net-zero ambitions are now part and parcel of future-proofing a business. According to the New Climate Economics Index, if no mitigating action is taken to address climate change, the global economy could shrink by 18% in the next 30 years. Across the industrial sector, there are some tangible impacts. For example, in the food industry, heat stress from global warming will undoubtedly lead to lower crop yields or failures. So as industrial companies plan for their next 10 years, the steps that they need to take towards net-zero should be at the top of their mind. Another area that is overlooked is carbon taxing, which can turn into a real cost. AI helps optimize carbon emissions and, hence, cost.
Smart Industry: What day-to-day changes are most pronounced when a manufacturing enterprise adopts a net-zero approach?
Josef: When adopting a net-zero approach, I think the greatest day-to-day changes will be greater efficiency. Many pathways to reducing carbon emissions, raw material waste, or water consumption can stem from optimizing assets and processes so that cycle times are optimized—therefore, there are fewer overages in energy costs and less rework is required because products are produced to spec, and fewer defects end up in the landfill.
Smart Industry: Can this really boost revenue? How?
Josef: Yes it can! Taking a sustainability-first mindset can open up new opportunities to develop lower-emissions products and market segments as well as innovate the production processes. For example, in the food sector, we are seeing this active today through the growth of the plant-based segment. According to McKinsey, the chemicals industry stands to drive profit-pool growth of $60 billion by 2030 through the reuse and recycling of plastics.
Watch the on-demand webinar: “Accelerate your Race to Net-Zero” to learn more