Publications
Publications
- June 12, 2023
- Harvard Business Review Digital Articles
How AI Will Accelerate the Circular Economy
By: Shirley Lu and George Serafeim
Abstract
Despite living on a planet with finite resources, our economy remains largely linear and full of single-use products. The shift toward a circular economy, where companies recover or recycle resources, has hit roadblocks, including low value of used products and high recycling costs. Harvard’s D^3 Institute recently highlighted how digital tools and AI can help overcome these hurdles. They discussed three key strategies: extending the life of products, using fewer materials in production, and using more recycled materials. These tech-enabled strategies promise significant financial returns, but unlocking their full potential will need serious investment. Simply put, it’s high time businesses recognized the potential of turning waste into wealth.
Keywords
Recycling; Materials Management; Innovation and Management; Technological Innovation; Climate Change; Environmental Sustainability; AI and Machine Learning; Operations; Industrial Products Industry; Consumer Products Industry; Technology Industry
Citation
Lu, Shirley, and George Serafeim. "How AI Will Accelerate the Circular Economy." Harvard Business Review Digital Articles (June 12, 2023).