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Europe’s sustainable and technological development
In recent years, we have seen the European Union investing in technological development and sustainability, shaping a future where innovation is compatible with environmental responsibility. The EU budget plays an important role in achieving this and in exploiting technology, providing significant resources for the greater good.
The Commission set the 2024 budget at €189.39 billion in commitments and €142.63 billion in total payments. The draft budget directs funds where they can help address the challenges and needs of EU Member States. A certain amount will also be allocated to the Digital Europe program and to shaping the Union’s digital future, as well as to environmental actions aimed at mitigating and adapting to climate change. The digital sector is vital to ensuring a sustainable future and accelerating economic recovery by boosting investment in various sectors.
On the occasion of Europe’s Digital Program, Cisco has created 10 key technology policies that can make a significant contribution to sustainable growth, leveraging artificial intelligence and connectivity.
Let’s take a look at Cisco’s proposals for empowering Europe’s future.
- AI compliance regulations. It is considered particularly important to adopt regulations that are globally compatible and promote cooperation on risk mitigation through forums.
- Enhancing artificial intelligence skills. It is considered necessary to develop digital skills and to ensure that citizens of the Member States make proper use of artificial intelligence.
- Removal-recycling of old digital devices. The modernization of digital devices can help to enhance the security of the infrastructure and avoid risks.
- Establish security regulations. Establishing strict safety rules can mitigate economic and social risks for individuals and companies.
- Agreement between the EU and the US on government data. With the agreement between these two, the rights and data of citizens would be protected and would reduce tensions in Europe regarding the cloud.
- Strengthening networks through strategic connectivity. A connectivity strategy can play an important role in the development of networks and cross-border service provision through investment.
- Provision of long-range Wi-Fi. Allocating the upper 6 GHz band to Wi-Fi would meet the growing demand for wireless devices and Europe would be one step closer to achieving gigabit connectivity.
- Facilitate the eco-friendly transition through digital innovations. EU policies on industry, digital technology, energy, and the environment need to be coordinated to promote a robust green single market.
- Promote free trade and eco-friendly exchange of goods and services. This will remove barriers to the adoption of sustainable technology and the EU will work with trading partners to promote a circular digital sector.
- Partnerships for economic innovation. Working with like-minded countries and the private sector to implement global standards will unleash the potential of advanced technologies and build confidence and resilience.
Why Every Company Needs a Business Sustainability Plan
Increasing risks derived from climate change, social issues, such as inclusion and diversity, human rights and data privacy, or compliance, have made sustainability an integral part of a business resilience strategy. All organizations, without exception, must adopt a plan to manage risks and opportunities related to sustainability issue, aiming to contribute to the long-term prosperity of the organization itself and the society.
Economic Resilience
A well-designed sustainability program has the ability to enhance the financial resilience of organizations, as it will reduce their operating costs, their exposure to risk and also create new revenue streams and market opportunities. Some significant initiatives they can take are systems and automations, data analytics, governance and risk management systems.
Environmental Responsibility
Environmental challenges should awaken businesses to adopt environmentally friendly practices with the main objective of reducing their environmental footprint and managing resources responsibly. They also position themselves as responsible corporate citizens in their efforts, thereby enhancing their brand (climate adaptation & climate mitigation actions).
Social Impact
Sustainability is not just for individuals but for the whole society, as only in this way the difference can be seen. The practices adopted by a sustainable business affect the employees, customers and the community. A sustainable business plan can make a significant contribution to working conditions, equity and customer relations, enhancing the long-term prosperity of the business.
Ethical Considerations
A well-designed sustainability plan helps companies to set ethical standards and guidelines for their operations e.g. fair labor practices, transparent supply chains or even cyber security.
Competitiveness
Most consumers are now aware of the urgency of the situation and are looking for environmentally responsible solutions and brands. With the help of a sustainability plan, a business can differentiate itself in the market through innovation and attract more customers who prioritize sustainability in their purchasing decisions.
Risk Mitigation
Businesses are given the opportunity to mitigate risk, as through the plan a potential risk can be identified and addressed immediately, ensuring that a company is better prepared to face unexpected challenges.
Adopting a sustainable plan is a one-way street for businesses, not only because of the potential impact it can have but because the planet is everyone’s concern, and we need to contribute to ensuring a healthy planet.
EU AI Act: 7 key principles
Recently, the European Council adopted the EU AI Act, the world’s first comprehensive AI law.
The main goal of the new legislation is to ensure proper risk assessment and the adoption of safe and reliable AI systems in the European Union market. This will be achieved by ensuring respect for the fundamental rights of citizens and promoting innovation in this area. Within the new law, reference is also made to the categorization of types of AI based on the risk they pose, and they are divided as follows:
- Limited-risk AI systems are subject to mild transparency obligations.
- High-risk AI systems will be allowed after a high level of scrutiny and will be subject to obligations in order to gain access to the EU market.
- AI systems that involve cognitive behavioral manipulation or social scoring are strictly prohibited by the EU due to their risk.
- AI systems that contribute to preventive policing and contain biometric data that promote categorization of people based on certain characteristics such as gender, religion and sexual orientation are prohibited.
To ensure the above, specific administrative bodies are set up:
- AI service primarily concerned with the submission of common rules within the EU.
- Establishment of a scientific group composed of experts involved in supporting enforcement activities.
- The AI Council consists of representatives of Member States with responsibilities to advise the Commission and Member States on the effective implementation of the rules.
- A stakeholder advisory forum to provide technical expertise to the Commission and the AI Council.
The new legislation also contains certain penalties in case of violation of the regulations. In case of non-compliance with AI practices, companies can be fined up to € 35 million or 7% of global annual turnover, whichever is higher. For certain violations the amount is up to 15,000,000€ or 3% of worldwide annual turnover, while for misleading information the amount is up to 7,500,000€ or 1% of worldwide annual turnover, whichever is higher.
7 key principles
For the reliable and correct use of AI systems, 7 basic principles have been defined and they are:
- Justice and mitigation of bias. AI systems should not discriminate or reinforce the prejudices of certain social groups.
- Transparency. There should be a full explanation of the decisions and actions of the systems.
- Accountability. Mechanisms should be put in place to assign responsibility in the event of failure or incorrect decisions by AI systems.
- Privacy. AI systems should not process or share citizens’ information and data in a way that does not respect data protection regulations.
- Security. The main goal is to create systems and mechanisms that are secure and reliable to deal with errors and risks.
- Social and environmental well-being. The social and environmental impact of AI must be considered.
- Human intervention. AI systems need to support human intervention and fundamental rights, while respecting human autonomy and dignity.
Cybersecurity in the commercial enterprise sector
Cyber-attacks are on the rise and as a result, many businesses are procuring solutions to protect their data. Unfortunately, small and medium-sized businesses do not consider themselves to be a target for cybercriminals and as a result they leave their data exposed and this is exactly what cybercriminals are exploiting.
The rapid increase in cyber-attacks, especially in the enterprise sector, is since all their operations are carried out digitally. Every connected device is a doorway for hackers to enter, for example, connecting staff from a different Wi-Fi provider can carry many risks. Remote working has equally contributed to the increase in attacks on businesses as the workforce’s devices are unprotected.
The emergence of artificial intelligence has brought even more risks in addition to ransomware attacks and data breaches. Artificial intelligence (AI) and machine learning (ML) are powerful tools for data analysis and automation but pose significant challenges for cybersecurity as these technologies can be manipulated to create sophisticated cyberattacks.
Data breach not only causes financial losses to commercial enterprises to mitigate the attack but also contains several consequences:
- Purchase and integration of new systems
- Possible fines
- Lawyers’ fees
- Tarnishes their reputation and erodes the trust of partners
- Likelihood of business interruption
An important step to avoid this development is to educate the workforce about the potential risks and the ethical use of these technologies. Also, seeking appropriate security solutions is essential to prevent and address threats. The appropriate choice will be made after determining the risks e.g. outdated software, inadequate authentication mechanism. Commercial enterprises need to improve their digital defense by creating a mitigation strategy and by complying with regulations while maintaining the trust of their partners.
But why is it considered necessary to strengthen the digital defense of commercial enterprises?
- They manage large amount of data, customer information and proprietary business information
- It is based on digital systems and a mistake can cost the business operational continuity
- This sector is subject to strict regulatory requirements on data protection and privacy, and non-compliance can lead to legal consequences
- The evolution of attacks requires integrated cybersecurity strategies that cover all aspects of the supply chain, from manufacturing to delivery
The rapid development of technology and the emergence of artificial intelligence has brought a wealth of opportunities and conveniences, but also several challenges in the field of security. By adopting a multi-faceted approach that includes encryption, regular updates, physical security measures, adherence to standards and user education, we can foster a more resilient and secure digital world.
From the Smart Building to the Intelligent Building
Climate change and the need for sustainable development has brought into focus the promising solution of smart buildings. But what is a smart building?
Smart buildings refer to those that incorporate advanced technologies, interconnected systems and aim to optimize energy efficiency, occupant comfort and reduce environmental impact. They mainly operate with sensors in key systems within a building such as lighting, water supply, security, heating, etc.
But is there a substantial difference between smart houses and smart buildings?
By smart house we refer to the integration of smart systems into a residential environment. These devices are connected via IoT and interact with each other to create an automated environment. In this way, residents are able to control their home, automating their routine. On the other hand, a smart building is an industrial or commercial property that incorporates technologies whose main objective is the comfort of the occupants and the creation of a sustainable and smart environment.
To understand a smart building, the following are basic elements of its infrastructure:
- The sensors are designed to collect data on various aspects of heating, lighting, energy consumption, etc.
- IoT is a key element of a smart building, as it allows real-time communication between devices, sensors and systems.
- The BMS integrates the data it receives from sensors and devices, allowing administrators to manage their systems and operations.
- Reliable connectivity is considered for transmitting data between devices across the entire infrastructure, whether it involves Ethernet, Wi-Fi, mobile networks, etc.
- Cloud-based platforms provide storage and computing power to process and analyze data in real time from any location.
- As mentioned above, the goal of a smart building is energy efficiency and sustainability. With the energy management system, it is possible to analyze data to optimize energy consumption and integrate renewable sources.
- HMIs offer the possibility for administrators to interact with smart building systems e.g. voice commands and virtual assistants.
- Advanced security systems play an essential role in securing administrators and data e.g. access control devices, surveillance cameras.
From time to time, many people wonder whether smart buildings are the future of sustainability. In fact, it is a promising solution for saving energy. In summary, it can be achieved as follows:
By monitoring resources, their management can be achieved by reducing the environmental footprint.
By integrating renewable energy sources, pure sustainable energy is promoted.
Energy efficient practices contribute to efforts to combat climate change.
Typically, they incorporate environmentally friendly building materials, ensuring that environmental impacts are minimized.
Speaking of innovation, reference should be made to Intelligent Buildings and many manufacturers have already moved in this direction. In fact, Intelligent Buildings are the evolution of the above in terms of commercial spaces as, they focus on flexibility and are managed with advanced artificial intelligence and machine learning that enable visibility, control and automation.
The main benefits they offer are the following:
- Optimizes management costs by automating the various functions of the building
- Managers have full control over the operation of each resource
- Optimize energy efficiency and workplace environmental quality by powering resources via PoE
- The building is supplied with weak voltage and not 220V, thus avoiding risks and possible accidents, e.g. leaks.
- They offer the ability to connect even from a remote location
Intelligent Buildings accelerate the path to Net-Zero, as they utilize efficient PoE technology and can reduce a building’s carbon emissions, saving costs and providing improved workplace conditions.
How AI is a Core Component of Modern Business
Nowadays, artificial intelligence is an important tool that reshapes and optimizes business operations. Several businesses, regardless of industry or sector, have adapted to this new reality by adopting the functions that the individual business deems necessary.
However, the workforce must stop thinking of AI as a trend of the times and instead they should become familiar with the idea that it is a key component of a modern business. The benefits are obvious, as it offers problem solving, perception and learning ability in a short time, with accuracy and cost-effectiveness.
The potential of artificial intelligence heralds a new era in which technology and work forces will have to work together to make things run smoothly. The opportunities it offers are:
- AIOps, AI for IT operations, allow IT teams to instantly scour large quantities of data, thereby reducing the time required for anomaly detection, problem resolution and real-time system monitoring.
- Marketing and sales teams are facilitated with customer data and identifying trends and forecasting costs becomes even easier and more direct, offering a business the opportunity to understand its position in the market.
- AI features can significantly improve the customer service experience, as it can provide 24/7 service with immediate response time. Human resources can now deal with more complex issues by integrating chatbots to serve customers through queries.
- The emergence of artificial intelligence has streamlined content creation, saving time for content teams. AI tools can create images or text and help brainstorm ideas. Even in this case, content creators should pay attention to copyright infringement, publishing misinformation or other unethical business practices.
- Data breaches by cybercriminals can be costly and damaging to the organization. Artificial intelligence tools can make it easier for IT teams to monitor and identify anomalies or threats on the network with the primary goal of responding immediately before they spread across the infrastructure.
To smoothly manage the functions of the AI, managers need to know exactly what it can offer and how it benefits them. Appropriate and adequate training of work force plays a crucial role in this new reality and in avoiding fatal mistakes for companies. Even artificial intelligence can harbor risks that executives should consider and avoid. Let’s not forget that the functions of AI are constantly changing, and executives and IT teams need to keep abreast of these developments.