Executive Predictions 2024: ESG Comes into Focus

The tech world is increasingly looking to leverage technology in ways that enhance environmental, social, and governance (ESG) programs. Equally, they are identifying how to ensure that technology is developed in sustainable, equitable, and accessible ways.

Here are some predictions from Keysight executives on how the technology world will consider ESG in 2024.

Environment

AI and the sustainability quandary - Gareth Smith, GM Software Test Automation

There has been significant hype around how AI systems will transform our lives, but little attention has focused on the compute power required. In 2024, AI's impact on sustainability will enter the spotlight, and organizations will start to monitor the carbon footprint of their entire technology infrastructure as they strive to meet net-zero targets. As a result, companies will need to decide where and how to judiciously use AI rather than thinking it can be deployed everywhere. And when it comes to testing software and applications, businesses will also have to pivot from testing everything to predicting the tests that matter most to reduce the environmental impact.

Energy consumption and the need for more energy alternatives drive technology decisions – Mark Pierpoint, VP of Strategic Innovation and Partnerships

Technology decisions, rather than solely evaluating performance and cost, will increasingly take into account sustainability. Energy efficiency will be a C-suite imperative influencing every decision in order to achieve environmental goals.

To support the shift to more renewable energy, the grid will increasingly need to add storage to enable utility companies to manage the peaks and troughs of demand efficiently. Additionally, before the end of the decade, there needs to be a widespread acceptance that nuclear energy is a critical component required to meet Net Zero goals.

The wireless drive to net zero – Sara LaSelva, Director of 6G

With sustainability concerns growing around wireless networks, AI will play a pivotal role in helping reduce the environmental impact of 6G. For example, the technology can determine how to optimize power consumption by turning on and off components based on real-time operating conditions.

As 6G networks roll out and more devices and machines become wirelessly connected, it will create an opportunity to optimize operations and reduce carbon footprints. For example, 6G will help autonomous vehicles become more advanced, which will reduce traffic and some of the waste and inefficiencies associated with human-led driving. In farming, IoT devices connected to 6G will monitor soil conditions and help optimize water and fertilizer use. Once 6G becomes ubiquitous, it will usher in a new era of sustainability-driven operations.

The industry will look to standardize sustainability measurements in 2024, including measuring the total carbon footprint of a wireless network. This will help avoid greenwashing claims and accelerate the drive to net zero.

Social

AI & Digital Twins: Changing the face of healthcare – Marie Hattar, SVP and CMO

Digital twins are increasingly ubiquitous, and now, with AI-infused, they are creating a new reality in healthcare. The technology will significantly reduce the pressure on the system and provide individuals with more options, helping improve the quality of life. AI-powered digital twins will usher in a new era of caring for an aging population, allowing people to live independently for longer. AI will play a pivotal role in the early diagnosis of potential health issues. For example, full-body MRIs will tap into AI's ability to identify, predict, and analyze data patterns to help diagnose disease long before it's visible to the human eye. In addition, AI will take on a more prominent role in assisting medical staff to understand and interpret findings and provide treatment and care recommendations.

Emerging sectors of the cloud industry becoming significant in 2024 - Dan Krantz, CIO

As traditional cloud capabilities mature, I predict the emergence of Cloud High Performance Computing (HPC) in the next 12-18 months. Current HPC workloads typically utilize on-premise supercomputing infrastructure, but the cloud providers will bring to the HPC market supercomputing capabilities wrapped in cloud-native characteristics of elasticity, programmable automation, and metered usage, democratizing the most compute-intensive scientific and engineering workloads.

Inclusive Innovation: Quantum community champions gender equality – Dr. Philip Krantz, Quantum Engineering Solutions

Quantum has the potential to become the first technology sector to achieve gender equality. This will result from an ongoing concerted effort to attract women and ensure a diverse workforce is the norm rather than the exception.

Governance

Regulation on the radar – Sara LaSelva, Director of 6G

In 2024, regulation will be on the agenda as the industry looks to provide a framework so that the entire ecosystem, including companies, operators, and countries, can work in unison. Due to the complexity involved, particularly at the geopolitical level, this will take several years to resolve.

Regulation needs to be deep and wide – Gareth Smith, GM Software Test Automation

There is universal acceptance of the need to regulate AI. However, what the regulation should encompass will be subject to much debate due to the breadth and complexity of the technology involved. It will take a seismic event with significant negative consequences before the necessary funding is available. Only then will clear standards and best practices come into effect. If regulation doesn't happen in the near future, it increases the risk that it will no longer be possible to rein AI in.

International Harmonization of IoT Cyber Regulations – Scott Register, VP of Cybersecurity Solutions

There are numerous country-wide regulations to improve IoT cybersecurity, including the Cyber Trust Mark in the US, the ETSI EN 303 645 standard in Europe, and a labeling program in Singapore. In 2024, there will be more harmonization of the legislation to avoid manufacturers having to grapple with a multitude of requirements, which slows production and drives up costs. However, a global standard will remain elusive for now.

Technology equity, accessibility, and sustainability for global good

Technology has the potential to transform the way we interact with the world. Because of this, Keysight’s executive leadership has taken deliberate and actionable steps to ensure that ESG is embedded into the culture and steers the decisions made at every level. In 2024, we will see a more concerted, collective effort to ensure that technology drives benefits for all well into the future.