IBM has bought Envizi, an Australian company dedicated to environmental analytics. Envizi, as it is called, is dedicated to automating the collection of emissions data, and also uses Artificial Intelligence to help companies that request their services to make their operations more sustainable and socially aware. It is unknown how much IBM has paid for it in this operation, which closed on January 11.
Australia-based Envizi enables companies with social, environmental and governance (ESG) goals to monitor their sustainability progress. Its technology will be integrated with IBM physical asset management and supply chain software. Currently, Envizi has a portfolio of close to 200 clients, including Microsoft, Uber and IBM itself.
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Its software automates the collection and consolidation of more than 500 types of data, in addition to being compatible with the main sustainability reporting frameworks. It has control panels designed to be customized and easily managed, and with them companies can analyze, manage and report on their environmental objectives, identify opportunities in terms of efficiency and have advice on sustainability risks. Its solutions help simplify the management of these tasks as part of ESG-type reporting initiatives, while providing its users with useful sustainability data for their business strategy.
Kareem Yusuf, Head of IBM AI Applications, has noted that the need for a verified framework for tracking emissions will increase in the future, recalling that "everyone is going to need to have these platforms" to respond to the pressures in terms of regulations, or simply, the pressures to keep up with your competition.
Yusuf also highlighted that “to drive real progress towards sustainability, companies need the ability to transform data into predictive insights that help them make smarter, more actionable decisions on a daily basis. Envizi solutions offer companies a single source of truth for analyzing and understanding emissions data across the spectrum of their business operations, and dramatically accelerate IBM's growing arsenal of AI technologies to help companies build operations and more sustainable supply chains.
For his part, David Solsky, CEO and one of the founders of Envizi, highlights that “IBM has decades of experience in helping organizations around the world take advantage of their data and act on it. IBM's global reach, depth of resources, and breadth of experience will help us scale at an unprecedented rate. As part of IBM, we are more confident than ever that we can achieve our goal of providing clients and partners with the level tools they need to reduce their operational impacts and optimize for a low-carbon future."