In a groundbreaking move, High Digital Ltd., a London-based software development business, secured a significant contract in October 2023. The company will be at the forefront of delivering Data Analytics and ESG (Environmental, Social, and Governance) reporting for Cold Solutions’ ambitious East African temperature-controlled warehouse and logistics project. The unique selling point that led to High Digital’s success lies in its innovative approach, blending data management with artificial intelligence (AI) to drive comprehensive and insightful reporting.
The Vision of High Digital’s CEO
Oliver Mackereth, the CEO of High Digital, expressed his enthusiasm about the collaboration with Cold Solutions, emphasising the significance of this innovative project. Mackereth stated, “We’re delighted to be working with Cold Solutions, and very grateful to have the opportunity to be involved with this ground-breaking and state-of-the-art project. It is extremely exciting; we can’t wait to work with the data and get the data working for the business.”
AI and the Evolution of ESG Reporting
In the dynamic landscape of ESG reporting, artificial intelligence (AI) has emerged as a central player, offering the potential to scale up and enhance reporting processes. Recognising the pivotal role of AI, the World Economic Forum underscored in January 2023 that achieving ESG goals may be unattainable without leveraging the power of artificial intelligence.
However, amid the enthusiasm for AI applications, it is crucial to address and navigate concerns such as job displacement, algorithmic bias, as well as privacy and security risks. High Digital emphasises the importance of implementing plans that effectively mitigate and manage these issues. Despite these challenges, the transformative potential of AI and machine learning (ML) systems in revolutionising ESG reporting cannot be understated.
Environmental Impact
In the realm of environmental performance, particularly in tracking emissions – a complex task for cold-chain projects, AI comes to the forefront. Cold-chain businesses often face challenges in tracking emissions throughout their supply chains. AI reporting systems offer a solution by incorporating public data and utilising models to deliver insights based on agreed rules and assumptions. This innovation enables a more accurate and efficient measurement of environmental impact.
Social Responsibility
AI and machine learning play a crucial role in addressing social targets, especially those related to supply chain ethics. Monitoring human rights violations and unsafe working conditions, once labour-intensive tasks, are now streamlined through AI. By managing vast
and disparate data sources, AI systems can identify anomalies and predict patterns, providing companies with the tools to achieve their social responsibility goals.
Governance Challenges
For businesses with operations spanning multiple countries, maintaining governance consistency can be a significant challenge. In the case of Cold Solutions operating across East Africa, AI serves as a valuable ally in managing governance structures and next-generation risk modelling. By leveraging AI, stakeholders can make informed decisions based on real-time insights, ensuring consistency across entities, and mitigating potential risks.
In Summary
AI’s unparalleled ability to manage vast amounts of data and deliver accurate insights is the linchpin for transformative ESG reporting. High Digital, with its expertise in software development and data products, is poised to lead the charge in delivering comprehensive reporting solutions that benefit both businesses and their external stakeholders.
