Sustainability & Tech Innovation

BizTech Pulse - August Issue 1

Welcome to the first issue of August 2023.

First half of August has been a mixed bag of the good and bad news.

Good news first (Tech & Economy):

• Economy: US consumers boosted their retail spending last month at the fastest pace since the start of the year, as they continue to bolster the resilient U.S. economy (Wall Street Journal Report)
• Technology: Artificial Intelligence (AI), more specifically Generative AI, has continued to be main engine for innovation and entrepreneurship, driving huge investments with hyped expectations.

Now, some bad news (Sustainability):

• Climate change: Parts of?South America?are sweltering under abnormally high temperatures (e.g., 100 F in Chile and Argentina), despite being in the winter season, mainly due to human-caused climate change. (CNN Report)
• Floods, Wildfires: Many of the natural disasters like floods and landslides in Asia, and wildfires in North America are aftermath of unmindful human activities and could have been avoidable.

Source: NASA

The Big Question

Sustainable Development is the answer for long term economic development without degrading the environment. UN World Commission on Environment and Development (WCED) defined “sustainable development" as the "development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”

Having already degraded the environment, we as humankind need to make some sacrifices to control further damage and reverse degradation if possible. Governments, United Nations, NGOs, industry, researchers, and many philanthropists and leaders are already engaged in serious efforts to promote sustainable development, mitigate climate change, and improve quality of life for the current and future generations.

However, sustainability related decision making generally suffers on two accounts:

1. In a democratic set up, political leaders usually have short planning horizons (e.g., coinciding with their electoral cycles, say 4-5 years) while sustainability related decisions show their impact usually in long term (20-25 years) and therefore require long-term vision.
2. Making sacrifices for future becomes difficult if the current generation is poor and weak. This is particularly true in case of underdeveloped regions or communities.

There are many more complex questions that we cannot solve here. But inform the political process and decision making, we can, and be prepared for the sacrifices! Hopefully various technological advances including AI will also help protect climate.

Life: My Annual Pilgrimage

My last annual 'pilgrimage' took me to Switzerland besides my usual destinations in the Himalayas, and other places around the world. Over the years, these pilgrimages have given me opportunities for spiritual rejuvenation, to be in harmony with nature, and reconnect with friends left behind.

Incidentally, Switzerland is ranked third globally on the sustainability index and USA is 30th. Hence the connection with pilgrimage story!

While in India, I was also able to take advantage of Ayurvedic oil-based therapy. Ayurveda is ancient Indian medical system; it worked wonders for my physical well being. The facility was fully equipped modern hospital with five-star amenities - managed by trained Ayurvedic doctors and therapists. There were several treatments throughout the day customized for the client, followed by Yoga session in the evening. It was a life changing experience and I would definitely recommend alternative medicine to those who would at least like to give it a shot!

Closing Quote

"Those who deny freedom to others deserve it not for themselves, and, under a just God, cannot long retain it." - Abraham Lincoln, letter to H.L. Pierce, April 6, 1859.