Sarine CEO: AI Transforms Diamond Industry at CIBJO Congress
Sarine Technologies Ltd, a global leader in precision technology solutions for the evaluation, planning, processing, measurement, grading and trading of diamonds, gems and jewelry, shared insights on artificial intelligence’s role in the industry following a panel discussion at the CIBJO Centenary Congress in Vicenza, Italy. The event marked 100 years of the World Jewellery Confederation under President Dr. Gaetano Cavalieri. Sarine’s CEO, Tzafrir Engelhard, joined other industry leaders to discuss AI’s expanding influence across the diamond and jewellery value chain, including innovation opportunities, intellectual property, data management, accountability, and responsible use.
AI as an Immediate Industry Imperative
“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,” Engelhard stated. He emphasized that AI’s strategic potential extends well beyond productivity and efficiency. “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,” he explained. This capability, he argued, enhances our ability to respond to changing customer needs and pursue new opportunities.
The panel highlighted practical applications, with Engelhard pointing to Sarine’s MVP™ (Most Valuable Planning™) service as an example. MVP™ automates complex diamond planning processes using sophisticated algorithms and cloud computing to evaluate millions of planning options. AI is integral to refining these algorithms and exploring novel approaches, particularly valuable in managing rough diamond supply volatility. “Through automation, advanced algorithms and cloud computing, we can evaluate millions of possibilities at a scale that would otherwise not be practical,” he noted.
Balancing Innovation with Responsibility
Engelhard cautioned that rapid AI adoption requires careful consideration of its application and associated challenges. “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,” he said. 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.
Sarine Technologies Ltd is listed on the Singapore Exchange Mainboard and the Tel Aviv Exchange under the ticker symbol SARN.TA.
