ESG Epilogue: AI Translation Engine as an ESG Effort
Published on 30 November 2022 by Jeffrey Wan
After reading our previous three articles on ESG reports, quite a few of our business partners asked me the same question: Apart from translating ESG reports, how does DeepTranslate’s AI platform help improve ESG? so I think it is worth sharing too!
E: Environmental
Countless paper is used in financial printing every day. My personal record was that the paper used in translating an IPO piled up and was taller than me! With the use of AI, the traditional workflow of printing and scanning is digitalised, enabling paperless production. In fact, paperless now becomes a solid new mainstream, as companies newly listed in Hong Kong must go for paperless IPOs since mid-2021. The “call figures” function in our digital platform is particularly paper-saving, as it can handle the procedure electronically in a click and easily reduce the use of hundreds of sheets—imagine you have to check the figures of a 400-page IPO, bilingual, that equals at least 800 pages saved for a single round of call figures process! With a paperless new trend, the digital solution is a major effort we can contribute to the goal of carbon emissions.
S: Social
Employees’ well-being is becoming an increasingly important topic. Meanwhile, the financial printing industry’s shift duties culture and long working hours, especially during peak seasons, have long been despised by workers among the industry and have been a push factors for new blood. DeepTranslate’s innovative AI engine can effectively reduce the time required in translation and prevent employees from working overtime, through which it’s hope that the employees can improve work-life balance.
Also, since the outbreak of COVID-19, businesses have been looking for possibilities of more flexible working environments as many staff was arranged to work from home. With a digitalised workflow, employees can now work anywhere without having to risk their health by reporting to offices under the pandemic. In addition, the higher mobility is particularly human-friendly and important for those who have been striving for a balance between work and taking care of their children or elderlies at home.
G: Governance
Data security is one of the bottom lines of successful businesses, and poor governance in this aspect can cause crises with its stakeholders and may even lead to legal disaster. Many of our clients are major industry leaders in the financial field that handle loads of confidential and price sensitive information and therefore attach great importance to data security and confidentiality. DeepTranslate’s platform is highly secured and is data-encrypted. Clients who have the most stringent requirement on data security may even opt for our on-premise solution, which will have DeepTranslate’s platform installed and operated within the client’s in-house server. But even if you are just using our basic package, as the workflow is simplified, the sensitive information will go through less people and access to documents can be identified and controlled by login. It allows you to be free from the security fuss and ensure compliance in this respect of governance.
