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Companies need to adjust operating, business models amid growth in generative AI

Published: 26 Jun 24

Generative AI (genAI) is having a measurable impact on companies that adopt these systems, and 58% of workers that are using genAI are able to save five hours a week in work time, the 'AI at Work in 2024' report, published by consulting firm Boston Consulting Group (BCG), shows. The focus of companies is now shifting from adoption of the technology to using the increased availability of employees' time to add value or improving the satisfaction of employees, says BCG technology design division BCG X global leader Sylvain Duranton.

Resources Watch

Published: 26 Jun 24

This week: Fast-greening Richards Bay Minerals now eyeing on-site renewables, storage, aggregation; and, South Africa now a compelling world investment story, upbeat Orion highlights

South Africa continues to push for long extension to Agoa well ahead of 2025 expiry

Published: 26 Jun 24

With the expiry of the Africa Growth and Opportunity Act 15 months away, South Africa is continuing to call for an early and substantial extension of the preferential trade arrangement, which has been in place since 2000. Department of Trade, Industry and Competition chief director for bilateral trade relations Malose Letsoalo reported this week that South Africa remained optimistic that Agoa would be extended beyond its September 2025 expiry date.

Boeing now sources nearly 40% of its electricity from renewable energy

Published: 26 Jun 24

Last year, US-based global major aerospace group Boeing sourced 39% of its energy from renewable electricity sources. This was achieved through a combination of direct buys and renewable energy credits. This was one of the highlights revealed by Boeing’s just-released 2024 Sustainability & Social Impact Report. “We’re honoured to share the steady progress we’ve made on sustainability, which will always be anchored in safety and quality,” affirmed Boeing Chief Sustainability Officer Brian Moran. “As we recommit to these fundamental values, it is energising to see our company’s focus on helping our industry decarbonise while uplifting our communities and driving a culture of inclusion where everyone’s voice is heard.”

Trafigura clinches share of major zinc deal snubbed by Glencore

Published: 26 Jun 24

Production from a large new zinc mine in the Democratic Republic of Congo will be split between several new buyers including trading giant Trafigura Group, after rival Glencore backed away from a previous deal for the entire supply. Ivanhoe Mines’ Kipushi zinc mine started production in the past few days and is finalizing deals to sell its zinc to Trafigura, China’s Citic and Boliden, according to people familiar with the matter, who asked not to be identified as the matter isn’t public.

Half of China’s NEV brands likely to fail; exports set for steep growth

Published: 26 Jun 24

More than 130 brands are currently competing in China’s new-energy vehicle (NEV) market, says GlobalData Automotive Division China operations manager John Zeng. Three brands, however, dominate the market, with Tesla, BYD and Seres having taken 42% of the NEV market in the first quarter of this year.