The Kingdom of Saudi Arabia is a leader in the transformation that the country has witnessed, having made significant progress toward becoming one of the most advanced countries in the world, through Vision 2030, which promotes economic and social reform.
Challenges Related to Emission Reporting
Emission reports, including those related to the value chain, are essential. The complexities of estimating these emissions make them impossible to address using traditional reporting practices. Manually scrutinizing data to calculate carbon emissions is not only prone to errors but is also costly, time-consuming, and may result in unreliable audits.
Companies need reporting mechanisms that are automated, scalable, and reliable. While it is good for companies to commit to ESG obligations, the importance lies in demonstrating exactly how these goals have been achieved. As a result, companies are increasingly exploring how artificial intelligence and large language models can streamline reporting, improve quality, and reduce costs. In Saudi Arabia, AI-powered solutions are being used to enable companies to solve problems and overcome challenges they face.
Leveraging Artificial Intelligence
Artificial intelligence is a solution that promises the ability to process vast amounts of data and interact using natural language, extracting important signals according to user needs. For example, carbon capture and storage projects require a deep understanding of the earth’s subsurface and geological processes. Wintershall Dea and IBM Consulting have created a GPT-based knowledge extraction tool that allows users to ask specific questions about the provided subsurface knowledge base (tables and texts) to assess whether certain areas can be used for carbon capture and storage projects in terms of profitability, effectiveness, and safety. Additionally, combining Gen AI capabilities with the deep expertise of geologists and scientists can unlock new solutions and better ways of working.
In Saudi Arabia, AI-powered solutions are being used to enable companies to solve problems and overcome challenges they face. More than ever, artificial intelligence is being used to utilize data quickly, accurately, and efficiently.
Reporting for a Sustainable Future
Responsible companies recognize the need to predict, prepare for, and manage business risks, including those posed by climate change. Technology can assist companies in this regard. The IBM Environmental Intelligence Suite can help users monitor and plan for severe weather, and IBM Maximo can identify preventive maintenance actions that help users improve sustainability by maintaining optimal performance and efficiency of their assets.
Moreover, regulations concerning ESG reporting aspects are increasingly overlapping with businesses. Companies are increasingly required to disclose environmental information alongside anti-corruption, bribery, corporate governance, diversity, equity, and inclusion efforts.
Generative artificial intelligence can be a key tool in this process, helping organizations prepare for compliance with legal regulations, enhance ESG reporting, leverage efficiencies, and streamline business processes.
The Final Word
To assist companies in selecting the right AI models and foundational models, businesses may consider collaborating with technology providers that have a proven track record in developing and implementing systems that deliver results. The partner should also have the ability to adapt to changing market requirements – the digital service setup is the beginning of the journey, not its destination.
It is clear that companies adopting artificial intelligence to adapt to changes and uncover opportunities during the transition to a sustainable economy will be the most successful.
• Fahad Al-Anzi is the General Manager of IBM in Saudi Arabia. Note: The opinions expressed in this section are those of the author and do not necessarily reflect the views of Arab News.
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