We claim to act rationally, but we are always influenced by cognitive biases in all our decisions. These biases are also present in AI, because behind every technology and algorithm is a person or team with cognitive strengths and weaknesses. Companies like RepRisk addressed this in depth, as a recent post shows. Our team at eMentalist.ai also offers some innovative solutions here.
Our ESG tracker comprehensively analyzes current news and social media postings from neutral sources in real time, providing a clear view of a company’s sustainable actions. With the help of the eMentalist.ai software, huge amounts of data can be collected, evaluated and weighted according to the desired ESG criteria and clearly presented. Corresponding filters enable comparative analyses by size, industry or region. In addition, the ESG Tracker also evaluates a company’s emotional attitude towards sustainability issues on the basis of semantic keyword analyses in various languages.
CTO Dr. Elaheh Momeni is convinced that this will eliminate or largely limit most types of bias that previously made ESG ratings so problematic. Until now, these ratings had to make do with static information from corporate sustainability reports, which usually focused on activities that had taken place some time in the past and – it may be assumed – sometimes also left some things out of account. Larger companies and those from markets with mandatory sustainability reporting were often rated higher than other companies. The ESG tracker developed at eMenatlist.ai Labs also brings more fairness to the rating landscape, as business models and risk exposure can be assessed individually. In the service of sustainability, it is hoped that this will also promote positively motivating ESG competition among companies.
Member of the Senior Advisory Board