Budget 2022: Artificial intelligence to help boost sustainability

With countries across the globe experiencing the effects of climate change, environmental sustainability is becoming a business imperative everywhere. The recognition that long-term profits necessitate environmental preservation has been increasing. However, the fact remains that including environmentally sustainable practices can be costly for corporations, which is discouraging in highly competitive industries. Minister of Finance Nirmala Sitharaman recognised this need for Sustainable Development in her 2022 Budget Proposal since the dangers of climate change are the most significant negative externalities that affect India and other countries today. She highlighted that Artificial Intelligence has the potential to reconcile profits and sustainability as "They provide employment opportunities for youth, and make Indian industry more efficient and competitive".