This groundbreaking project offers to create two unprecedented artificial intelligence-based climate vulnerability models.
The first will help companies know what to expect concerning climate disturbances, while the second enables businesses to react quickly when an unpredictable climate catastrophe happens.
Both models will give companies a sense of control in the face of uncertainty, allowing them to understand how to implement new business operation patterns created by a rapid change in climate conditions.
Most importantly, these models will provide empirical data on which companies can design customized long-term adaptation pathways.
The Diagnostic Tool:
The diagnostic tool will provide firms with a one-stop shop platform presenting empirical and actionable data.
Using artificial intelligence and trained to analyze an area’s physical, socioeconomic, and institutional characteristics, the Diagnostic Tool helps to identify its climatic vulnerabilities.
This tool will automatically determine how these vulnerabilities affect the industries in these locations.
To use the tool, client firms will answer an online questionnaire and provide detailed information about their industry, operations, locations of their business activities, and key suppliers.
The Diagnostic Tool then uses the information they’ve provided about any controls they currently have in place to determine their exposure to hazards and gauge their response capacity.
Next, it will analyze this information and provide a ranked vulnerability list.
Then, a typology of the firm’s components from different industries will be compiled, along with their respective potential climate interactions.
The diagnostic tool takes all this data and analyzes the firm’s activities along with a list of possible ways climate change can impact them directly (facilities, trade routes, or inputs) or indirectly by potential impacts on the communities where these different parts operate.
Once complete, a list of vulnerabilities will be generated and ranked by strength so companies can focus on areas they need to address quickly.
Since climatic events will continue to occur with increasing frequency and intensity, the only surprise after using the diagnostic tool is the climate event’s intensity level.
However, the Intelligence Tool will be specifically designed to address this issue.
The Intelligence Tool
The Intelligence Tool will detect low-probability events of unpredictably high-intensity disturbances that the Diagnostic Tool cannot anticipate.
This tool is designed to issue a report on an unexpected event within the first hour of its occurrence.
Once the event is entered into the system, the Intelligence Tool will automatically calculate the likelihood of disruption for all supply chains in the affected region. Then, determines the reach of its ripple effect.
If the likelihood meets the threshold value set by the user, then the affected supply chain owners will receive alerts via push notifications, such as SMS, email, or other means.
Once the tool identifies clients directly impacted or impacts their suppliers or major trade routes, a warning is issued to the client firm.