Lighthouses

Following on from yesterday's email about the Fourth Industrial Revolution, I came across a fascinating group of companies identified by the World Economic Forum, that they refer to as "Lighthouses":

"This community of manufacturers shows leadership in using Fourth Industrial Revolution technologies to transform factories, value chains and business models, for compelling financial and operational returns."

In other words, these manufacturers can pump out more stuff more efficiently, and with less waste and emissions.

Of those, a select few have also been identified as Sustainability Lighthouses - this long but killer quote from a McKinsey partner sums it up beautifully (bold is mine):

“Lighthouses have achieved a sustainability breakthrough. Companies no longer have to choose competitiveness or sustainability because smart manufacturing lets them achieve both. Fourth Industrial Revolution technologies – think artificial intelligence, robotics and the internet of things – amplify human capability and technological innovation to accelerate sustainability while also strengthening competitiveness. From using advanced analytics to predict exactly the inputs and outputs needed for a manufacturing process to augmented reality that simulates a production line so machines can be operated remotely, Lighthouses are reducing resource consumption, waste and carbon emissions, while increasing productivity and profit – all at once.”

This is a huge point that isn't always clear 👉 Sustainability doesn't have to come at the cost of competitiveness - you can absolutely have both.