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Club Weekly News
Mar 24 2023

💡 This week’s newsletter will highlight:
“ How the Energy Industry Uses Data!”  

                                               Check Out the News!

01

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Tech Consulting Giant Accenture to Cut 19,000 Jobs

Accenture planned to lay off about 19,000 jobs, or 2.5% of its total employee workforce, over the next 18 months as the professional services company looks to slash costs and streamline operations amid slowing IT spending. Share climbed 8.4% after the announcement. (Lin and Feuer, 2023)

02

ByteDance Face a Nationwide Ban on its TikTok App

The Biden administration has told TikTok its Chinese owners must sell their stakes in the company or else face a nationwide ban on the app. U.S. political leaders say Chinese law would require ByteDance to help Chinese authorities in intelligence and national-security matters if asked.  (Woo, 2023)

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03

Databricks Launches ‘Dolly,’ Another ChatGPT Rival

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Databricks Inc., a start-up valued at $38 billion, on Friday released an artificial-intelligence language model that it says developers can easily replicate to build their own ChatGPT-like apps, joining a field of technology firms racing to capture a piece of the fast-growing generative AI market (Loten, 2023).

Newsletter part 2 highlight:
How the Energy Industry
Uses Data

01

What is ESG

  • ESG stands for Environmental, Social, and Governance.

  • It is a framework used to evaluate the sustainability and ethical impact of companies and investments.

  • The ESG criteria help investors and stakeholders assess a company's impact on the environment, society, and its governance practices.

  • ESG factors are commonly used to identify risks and opportunities that are not captured by traditional financial analysis.

02

Importance of ESG Framework

  • ESG framework enables stakeholders to comprehend how a company handles sustainability risks and opportunities.

  • ESG has transformed the way in which numerous leading financial institutions and asset managers worldwide make decisions related to allocating capital.

03

Data Analytics in ESG Field

  • Data analytics platforms are critical tools for companies and institutions to extract information from the documents related to a company's ESG contribution.

  • In 2022, AI analytics tools for ESG were valued at $1.1 billion, and are estimated to reach $5.2 billion by 2027

Check out the video to see how Tony started his career in the Energy Industry

Video Interview:

Reach out to industry Professionals

Interview with Tony -- Director of Technology & Innovation Lab  at Enbridge

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