Sarine CEO Shares Expert Perspective on AI Innovation at the CIBJO Centenary Congress

Singapore Exchange Mainboard and Tel Aviv Exchange listed Sarine Technologies Ltd (“Sarine” and along with its subsidiaries “the Group”) (U77:SI; SARN.TA), a worldwide leader in the development, marketing and sale of precision technology solutions for the evaluation, planning, processing, measurement, grading and trading of diamonds, gems and jewelry is pleased to share insights on the growing role of artificial intelligence (AI) in accelerating innovation and supporting the development of new products and solutions following a panel discussion at the CIBJO Centenary Congress in Vicenza, Italy.

The Congress marked 100 years of CIBJO, the World Jewellery Confederation, under the longstanding leadership of its President, Dr. Gaetano Cavalieri.

Sarine’s CEO, Mr. Tzafrir Engelhard participated alongside other industry leaders (see below) in a discussion on the rapidly evolving role of AI across the diamond and jewellery value chain, including its potential to accelerate innovation and create new business opportunities, as well as considerations surrounding intellectual property, data management, accountability and responsible use.

“AI is no longer a future consideration for our industry. The speed and scale of its evolution are creating opportunities that were difficult to imagine only a few years ago. At the same time, as adoption grows, we need to carefully consider how these technologies are applied and how we address the questions they create around data, intellectual property and responsibility,” said Mr. Engelhard.

Mr. Engelhard emphasised that, for Sarine, the strategic potential of AI extends well beyond productivity and efficiency. “AI is certainly helping us become more productive, but for Sarine its potential goes much further. It is changing the speed at which we can innovate and experiment. We can explore ideas, test new approaches and accelerate the development of new products and solutions. In a rapidly evolving market, we believe this can significantly enhance our ability to respond to changing customer needs and pursue new opportunities.”

Sarine has been developing and applying machine learning, advanced algorithms and data-driven technologies for many years, as evidenced by its unique AI-enabled diamond grading. The Group believes that its combination of technological expertise, extensive industry data and profound domain knowledge provides a strong foundation from which to leverage the rapid evolution of AI across its innovation and development activities.

Mr. Engelhard pointed to Sarine’s latest introduction of its MVP™ (Most Valuable Planning™) service as an example of the company’s approach to technology-driven innovation. MVP™ automates much of the complex diamond planning process, using sophisticated algorithms and cloud computing to generate and evaluate millions of planning options. Sarine is also leveraging AI in the development of MVP™, helping accelerate the enhancement of its algorithms and the exploration of new approaches. “At Sarine, innovation has always been about applying technology to solve real industry challenges and create value for our customers. MVP is a good example. Through automation, advanced algorithms and cloud computing, we can evaluate millions of possibilities at a scale that would otherwise not be practical. AI is helping us accelerate the development behind these capabilities. In an environment characterised by volatility in rough diamond supply, automating and optimising the planning process can become increasingly valuable to our customers.”

Mr. Engelhard also encouraged industry participants to move from discussing AI in general terms to experimenting with real applications, noting that practical use can uncover opportunities that may not initially be apparent, while also highlighting the data, intellectual property and governance considerations that companies need to address.

The panel included also Paola De Luca, The Futurist CEO & Founder, Tai Wong, PGI Director Innovation & Product Development and Jacques Voorhees, Icecap.ai Founder & CEO and was moderated by Sara Yood, CEO & General Counsel at the Jewelers Vigilance Committee and Stéphane Fischler, Chair of CIBJO’s Technology Committee.