In an exclusive with the New Jeweller International Bureau, Tom Moses, GIA Executive Vice President and
Chief Laboratory and Research Officer talks about
Dubai as an important gateway to the world of trade and
opines on the importance of GIA Diamond Origin Program
and GIA education for the Diamond trade today. Excerpts:
We are witnessing a New Trajectory concerning the global
Diamond supply chain with Dubai breaking all records in
terms of Tendering / Auctioning Rough & Polished and
strategically partnering with Diamond economies such as
Israel to build trade. What is your opinion on this and can you
suggest some points that might further the growth of Dubai
diamond business?
Dubai has emerged as a vibrant centre of the global diamond
industry. Its location, infrastructure and transportation links
are all very important, as is the presence of many key
participants in the diamond trade. Building strategic
relationships with other centres and key stakeholders will
attract even more activity, leading to further growth and
success.
The 'Dubai Diamond Conference' is slated to be organised
this February. What according to you is the significance of the
Conference especially with subjects such as "The New
Consumer and Changing Demands" and "Rethinking the
Diamond Supply Chain"?
Evolving consumer desires and the global supply chain
challenges are two very important and closely linked issues.
More and more, consumers want information about the
diamonds they purchase, particularly about sustainability
and their impact on the environment and communities along the supply chain. Discussion on these topics at this
year's conference will undoubtedly be very
valuable.
The 'GIA Diamond Origin Program' is becoming a
critical part of the global diamond business. Can you
elaborate on the 'GIA Diamond Origin Program' and
add on the positive disruption that it will have in the
Diamond Industry?
The GIA Diamond Origin Program is, as far as we know,
the only origin program based on careful analysis of the
original rough diamond and then examining the
reportedly resulting polished diamonds using the same
suite of advanced techniques. With this process, GIA can
definitively and independently make sure the polished diamond is a match to its original rough. This
verifiable origin information, which consumers
increasingly demand, is a positive step towards
reinforcing consumers' trust and confidence in
their diamond purchases.
How important is the 'Education Services'
initiated by GIA to the trade and can you
elaborate on the future direction that education
should take concerning the Diamond sector
keeping in mind the New Generation coming into
the Industry?
Education is the foundation of GIA – it is where
our Institute started more than ninety years ago.
Our education programmes continue to evolve
to educate industry professionals and help
retailers translate their knowledge to
consumers. Since 1931, we have helped prepare
each new generation of gem and jewellery
professionals. In addition to learning
gemmology or jewellery design and
manufacturing, it is very important that those
seeking to make or advance a career in the diamond industry develop a strong understanding of
ethics and sustainability. These elements are a vital part of
our curriculum.
Technology is playing an important part in the evolution of
the sector with cutting edge machine tools being launched
with respect to Diamond Identification, Diamond Cutting etc. What is your opinion on the
plethora of products launched
and what should the Diamond
company heads look at while
selecting the best of Technology
tools for the company?
Technology cannot replace the
emotional side of purchasing a
diamond, coloured stone or
pearl. Technology works best
when it helps consumers better understand the attributes
of the gems they purchase, which gives them greater
confidence. Our industry has a long history of innovative
use of technology, from the iconic jewellers' loupe that
brought inclusions into view to the advanced artificial
intelligence applications GIA is using today for diamond
grading and treatment detection. There are many factors
to be weighed with considering new technology tools.
Most important, perhaps, is to closely question how
extensively and rigorously the tool has been tested and
how much data is available to support the technology's
claimed capabilities. For example, the basis for GIA's AI clarity grading system is
information from the millions
of diamonds GIA examines
each year. This volume of data
is needed to ensure that new
technologies can fulfil their
promise.
Lab Grown Diamonds are making a
headway into the trade as well as the
consumer segment. What are the key factors
according to you that will help maintain a healthy
competition in the Industry and also suggest if there can be
any other method of competing for lab grown with natural
diamonds apart from just price point?
Perhaps the most important aspect of a transaction
involving any diamond - natural or laboratory-grown,
untreated or treated - is disclosure. When purchasers,
either in the trade or consumers, have complete
information about a diamond's quality and
characteristics, they will have greater confidence
in their decisions. Disclosure is vital to protecting
consumers and ensuring their trust in gems and
jewellery - this is GIA's mission. As man-made
diamonds grow in the marketplace, it is more
likely they will follow a separate path rather than
competing with natural diamonds. History has
shown with other gem materials that have been
synthesised, for example, ruby, emerald and
others, that both the natural gem and its
laboratory-grown counterpart continue to grow in
the marketplace.
What would be that one critical advice that you
would like to give to the Industry for Stability,
Sustainability and Growth?
Stability, sustainability and growth are closely
linked. That said, a focus on sustainability today
will lead to stability and growth tomorrow. We must as an
industry prepare to address consumers' desire for clarity
about our industry's sustainability practices. Consumers
expect this; meeting their evolving preferences is how we
will achieve stability and growth.