Get all your news in one place.
100’s of premium titles.
One app.
Start reading
TechRadar
TechRadar
Craig Hale

Companies are spending more on CSR, and AI could play a key role

A digital face in profile against a digital background.

Many companies are preparing to spend more on Corporate Social Responsibility (CSR), with more than half (55%) reporting increasing CSR budgets for the second year in a row, new research has claimed.

A report from Skillsoft found two-fifths of investment (41%) is set to be dedicated to training and education, representing a key area that can benefit from an injection of artificial intelligence.

The study, which directly investigated the key role that generative AI might play in organizations’ CSR agendas, found that more than four in five (84%) respondents believe that GenAI will impact their environmental, social, and governance (ESG) reporting and decision-making.

Companies are preparing for a shift in CSR

Last year, Skillsoft reported that 40% said they had based CSR commitment on “doing the right thing,” however this year, that number stands at a substantially lower 13%. Now, half of the organizations questioned say their CSR efforts are being driven by external factors like customer feedback, government mandates, and public perception.

Companies are now looking to improve brand recognition, business reputation, and sales and customer loyalty.

Other studies have shown that workers understand the benefits of AI disproportionately, with executives and board members, who hold the highest responsibility for CSR efforts, most likely to benefit from the technology.

AI tools have proven valuable resources in the decision-making process, and they are poised to play a considerable role in shifting CSR trends in the future.

With an evolving CSR landscape and a heightened focus on ESG, companies looking to adapt more quickly may wish to employ AI tools to plug gaps in both decision-making to improve efficiency and training and education to unlock new worker skillsets.

Providing workers with better tools to carry out their roles is also expected to improve productivity and mood, in turn having a positive effect on worker health and security, which ranked number one for CSR success measurement for the second year in a row. 

More from TechRadar Pro

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.