Cisco's FY24 Purpose Report marks a significant milestone in the company's journey, celebrating 40 years of technological innovation and societal impact. Under the leadership of Chuck Robbins, Cisco continues to leverage its technology, expertise, and partnerships to address some of the world's most pressing challenges. Whether we are talking about sustainability, digital inclusion, ethical governance, and community engagement, Cisco has intertwined profit and purpose in its DNA.
As Cisco marks 40 years of impact, it remains focused on leveraging its core competencies to drive meaningful change. With the global advancement of technology and AI, they are committed to ensuring inclusive progress, reinforcing their position as both a technology leader and a responsible, trusted partner.
Sustainability and Environmental Stewardship
Cisco's commitment to environmental sustainability is evident in its strategic approach to clean energy transitions, circular transformation, and resilient ecosystems. The company has set ambitious goals to reduce its greenhouse gas (GHG) emissions, with a notable focus on achieving net-zero emissions across its value chain by 2040. This commitment is underscored by Cisco's inclusion on the CDP Climate A List and its efforts to integrate circular design principles into 96% of its new products and packaging.
The "Plan for Possible" serves as Cisco's blueprint for advancing sustainability in its products, accelerating access to clean energy, and fostering climate resilience. By focusing on energy efficiency, connecting clean energy sources, and collaborating with stakeholders, Cisco aims to drive meaningful action toward its net-zero goal.
Digital Inclusion and Connectivity
At the heart of Cisco's purpose is the ambition to power an inclusive future for all. The report highlights the company's efforts to bridge the digital divide through initiatives like the Country Digital Acceleration (CDA) program and the innovative "Amazon Floating School" project. These efforts aim to modernize digital infrastructure and empower a digitally skilled workforce worldwide, demonstrating Cisco's commitment to expanding online access and harnessing connectivity to enable future workforces.
Ethics, Integrity, and Responsible Innovation
Cisco places a strong emphasis on ethics and integrity, with 99.9% of employees completing annual certifications in fiscal 2024. The company harnesses the power of machine learning (ML) to enhance its ethics and compliance programs, demonstrating a proactive approach to corporate governance.
In the realm of innovation, Cisco's acquisition of Splunk highlights its commitment to integrating AI and digital technologies responsibly. The partnership aims to drive digital resilience and ethical growth, ensuring that Cisco's technological advancements contribute positively to society.
Cisco prioritizes responsible AI practices in its products and operations. The company launched its Responsible AI (RAI) Principles in 2022, building on its 2018 commitment to respect human rights in AI development. Cisco actively participates in global AI initiatives, with CEO Chuck Robbins serving on key advisory boards and signing international AI ethics pledges.
Recognizing the importance of workforce preparedness, Cisco leads the AI-Enabled ICT Workforce Consortium, which studies AI's impact on jobs. The company aims to train 25 million people in digital skills, including AI, through its Networking Academy by 2032.
In response to the rise of generative AI, Cisco has enhanced its AI risk assessment process to ensure RAI Principles are applied across its AI use, product development, and vendor relationships. This approach underscores Cisco's commitment to ethical and trustworthy AI development and implementation.
Community Impact and Employee Engagement
The introduction of the "40 Communities" ambition illustrates Cisco's next big step in community engagement. Over the next decade, Cisco plans to engage, support, and invest in 40 communities worldwide, focusing on creating connected, resilient, and thriving communities through public-private partnerships built on trust.
Cisco's culture of community engagement is reflected in the significant participation of its employees in volunteering and advocacy efforts. Cisco empowers its workforce through innovative tools and programs. The company focuses on strengthening leadership at all levels, offering comprehensive development initiatives. Team collaboration is enhanced through platforms like Team Space, which facilitates regular check-ins and engagement rituals.
In the AI realm, Cisco has introduced BridgeIT, an AI-powered chat solution integrated with Webex, to support employees with product information and task assistance. The company also launched "Teaming with AI" and an AI hackathon to encourage innovative AI applications in the workplace.
These efforts reflect Cisco's commitment to fostering a dynamic, AI-enabled work environment that promotes individual growth, team effectiveness, and organizational success. By leveraging technology and emphasizing continuous improvement, Cisco aims to create a workplace where employees can thrive and contribute to the company's overall mission.
Looking Ahead: Challenges and Opportunities
Fran Katsoudas, reflecting on Cisco's evolution over the past 40 years, noted how the company's Purpose work has transformed alongside the technology industry. She emphasizes that technology has become a foundational pillar for society, providing resilience and capabilities for ecosystems to thrive.
Katsoudas acknowledges the urgent need to fulfill Cisco's Purpose—to Power an Inclusive Future for All—in light of global challenges such as natural disasters, geopolitical conflicts, and digital divides. She stresses that Purpose and profit are not mutually exclusive and that Cisco's Purpose drives growth for the business, its people, and communities.
The message highlights Cisco's efforts in education and upskilling, including its goal of reaching 25 million learners by fiscal 2032. Katsoudas emphasizes the importance of closing the digital divide, especially in emerging markets, to realize AI's potential economic impact. She also introduces Cisco's new ambition to engage, support, and invest in 40 communities globally over the next decade.
As Cisco looks to the future, it acknowledges the ongoing challenges and opportunities. The company's commitment to trust, security, and responsible AI usage will be critical in navigating the complexities of the digital age. Cisco's ability to adapt, innovate, and maintain its ethical standards will determine its success in achieving its ambitious goals and continuing to make a positive impact on society.
Cisco's FY24 Purpose Report underscores the company's dedication to leveraging technology for societal benefit. Cisco demonstrates a multifaceted approach to corporate responsibility through its sustainability initiatives, efforts to bridge the digital divide, commitment to ethical governance, and community engagement. As the company embarks on its next set of ambitions, its focus on innovation, collaboration, and trust will be essential in shaping a more sustainable, inclusive, and connected future for all.