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This week The Innovator is launching a new section called Energy Transition. While we have written deep dives on the topic in the past the launch of a dedicated section signifies the importance of the subject and underscores our commitment to regularly cover stories about how companies in the electricity, gas and oil sector are tackling the challenge of getting to Net Zero. Ironically the section is launching in a week in which one of the major players- BP- announced it is scaling back its climate goals and deepening its investments in oil and gas, casting new doubts on big oil companies’ promises to embrace clean energy. The road ahead will clearly be bumpy which is why The Innovator believes it is more important than ever to serve as a platform for the exchange of best practice.

Stay on top of the latest business innovations and help support quality journalism. Sign up for a subscription today. To remind you, our annual plan works out to a monthly rate of €24.99+ VAT.  It will give you access to a archive of over 1000 independently reported stories  and some 200 new ones in 2023.

Enjoy this week's issue,

Innovator Founder and Editor-in-Chief Jennifer L. Schenker
 
 
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 -   N E W S   I N   C O N T E X T  -

If the hyperbole from Microsoft and Google is to be believed search will never be the same. Both companies held events this week to highlight how generative AI will change the way people look for information on the Internet.

Microsoft released a new version of its search engine Bing powered by artificial intelligence software from OpenAI, the maker of the chatbot ChatGPT. It was billed as a landmark event — the company's  “iPhone moment.”At its own event in Paris Google give a preview of its GPT-style chatbot Bard. Meanwhile China’s Baidu said it would complete internal testing of a GPT-style project called “Ernie Bot” in March.

Interest in generative artificial intelligence is gathering steam but in their hurry to market companies are unleashing technology that gives plausible but wrong answers and it could take some time to fix the problem. Find out why that matters. Read on to learn about this story and the week's most important technology news impacting business.

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Every year another 500,000 people migrate from the countryside to sprawling South American cities like São Paulo. Many end up in favelas that either have no power or rely on illegal, often dangerous, electricity hook-ups.

Enel, a global energy company headquartered in Rome that generates and distributes electricity in 30 countries on five continents, is tackling the energy poverty problem by using a strategy which focuses on community involvement, renewable energy, and a circular economy approach.

In São Paulo, for example, thanks to a partnership between the energy company and an NGO, Enel improved community life in slums with high crime rates by adding public streetlights. The streetlights were constructed by locals from green material: an electric circuit made using recycled parts, an LED, a recycled plastic bottle as a bulb, a solar panel for power generation and a rechargeable lithium battery to guarantee night-time lighting.

To the cynical this may sound like corporate social responsibility publicity stunts and greenwashing, but the numbers tell a different story. Through this approach Enel has managed to shrink direct emissions by more than half over the last ten years while growing revenue. Renewables now make up 47.9%, up from just 8% a decade ago. Enel expects its total portfolio to be more than 85% renewable by 2030 and at net-zero, for both direct and indirect emissions, by 2040.  That’s 10 years earlier than the goal Enel set for itself in 2015, when it signed on to the United Nations’ SDGs.

Enel's progress is an example of how the energy transition offers enormous opportunities to not only shape the future of the global energy system but also to address some of the world’s most pressing challenges through concrete actions.

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 -   I N T E R V I E W  O F  T H E  W E E K  -

 Robert Metzke, Royal Philips
Who:  Robert Metzke is Global Head of Sustainability at Royal Philips. His responsibilities include driving the company strategy towards innovative, sustainable business models aimed at making healthcare accessible and affordable worldwide with energy efficient and circular solutions.

Topic: How Philips is embedding sustainability thinking across all divisions of the company and working to decarbonize its supply chain.

Quote: "We recently became the first health technology company to haveits entire value chain CO₂ emissions reduction targets (Scope 1-3) approved by the Science Based Targets initiative. We are sharing our own learnings with our global supply base, working with them to get at least 50% of our suppliers to also adopt science-based targets by 2025. This will make our supply chain one of the most carbon-efficient supply chains in the world." 
 
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 -  S T A R T U P  O F  T H E  W E E K  -

Unmanned Life’s software platform promises to allow corporates to securely connect air and ground robots by leveraging 5G, AI and Edge computing, simplifying onboarding and reducing the total cost of ownership. Customers include TELUS, Telefonica, SEAT, Ericsson, and BT.
 
"We act as one central intelligent brain powering different robotics use cases in Industry 4.0 and intelligent cities such as perimeter surveillance, asset inspection and supply chain,” says Nicholas Zylberglajt, Unmanned Life’s CEO and co-founder.
 
Unmanned Life is one of five finalists in a global startup competition organized by 4YFN, a conference about innovation taking place during Mobile World Congress February 27-March 2. About 700 startups are expected to attend the conference. The Innovator is a media partner of the event.
 

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 -  N U M B E R  O F  T H E  W E E K 

$133,000

Amount of damages a federal jury in the U.S. awarded luxury goods maker Hermes this week for trademark infringement, dilution, and cybersquatting, in one of the first intellectual-property trials concerning the popular digital tokens known as NFTs, unique tokens on blockchain networks which are often used to verify ownership of digital art.

The jury found artist Mason Rothschild's unauthorized "MetaBirkin" NFTs depicting Birkin bags covered in colorful fur were likely to confuse consumers, reported CNN. Hermes'  leather Birkin handbags typically sell for tens of thousands of dollars each. The company has sold over $1 billion worth of Birkins in the United States alone, including more than $100 million worth in the past ten years, according to a court document. Hermes in its lawsuit called Rothschild a "digital speculator" and the NFTs a "get rich quick" scheme. The luxury house has its own plans for NFTs that Rothschild hindered, it said in a court filing.
 
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Getting Employee Buy-In For Organizational Change
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Big Ideas 2023
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Design Thinking Was Supposed To Fix The World. Where Did It Go Wrong?
MIT Technology Review
 

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