01-07-2024 11:38

Panel in Sopot explores the challenges of AI and ESG

Sopot, Poland recently hosted an engaging panel debate organised by the European Financial Congress and EY Poland. The session, entitled "AI or ESG – which revolution is more challenging? The employee/manager perspective in an organization", brought together leading experts from the financial sector to share their insights on the challenges and opportunities of AI and ESG.

The debate covered a range of critical topics, including the impact of AI on workforce dynamics, the increasing demand for "green skills" and the necessity for organisations to adapt in order to achieve sustainable development goals. The panellists all emphasised that AI and ESG are not merely fleeting trends but essential factors necessitating strategic approaches in human resource management and policy formulation.

During the debate the audience was invited to weigh in on the challenges associated with AI and ESG transformations. The conclusions drawn were strikingly similar: AI introduces challenges related to data security, apprehensions about implementation, and curiosity, indicating that the technology is still in its early stages. In contrast, ESG revolves around the "necessity of change," future direction, strategic planning and alignment with business objectives.

Insights from Agnieszka Dzięgielewska-Jończyk, Legal counsel, Branch Manager and General Counsel of Nordea Bank in Poland

“Nordea employs some 5,700 people in Poland. The bank is actively working with AI, having taken a keen interest early on. We intend to use a mix of predictive, prescriptive and generative AI, and we’ve been exploring how these systems can enhance customer experience and improve operational efficiency. During our explorations, we have seen the need to address concerns about data security and operational transparency. Naturally, these aspects are critical whenever developing AI systems and so we therefore formed an AI Hub, which integrates all elements in compliance with organisational principles. Today, we have a much better understanding of the risks associated with AI systems and how to manage them, and that’s an important step in building trust and paving the way for the technology’s eventual wider use. The upcoming European Union AI Act clarifies many issues for any business looking to take advantage of this technology.”

This panel debate in Sopot highlighted the complex and multifaceted nature of AI and ESG transformations, emphasising the need for strategic approaches and forward-thinking leadership to navigate these revolutionary changes.

What the panels discussed:

AI and innovation: AI is revolutionising efficiency and innovation within organisations. It is enhancing data analysis and predictive modelling, enabling investors to identify sustainable practices and potential risks more effectively.
ESG and accountability: ESG considerations are reshaping investment strategies, corporate accountability and employee engagement. Companies increasingly focus on ethical practices and sustainable growth.
Synergies between AI and ESG: The debate highlighted the connection between AI and ESG. AI supports ESG initiatives by providing advanced analytics, while ESG principles ensure the ethical use of AI technologies, aligning them with broader societal goals.
Impact on employees and managers: Both AI and ESG influence the roles and responsibilities of employees and managers. AI drives efficiency and innovation, while ESG fosters a more accountable and engaged workforce.

Insights