AI Shares Dive on News of New Product

C3 AI (NYSE: AI), the Enterprise AI software application company, today announced the introduction of C3 AI ESG, an application that harnesses artificial intelligence and machine learning to enable companies to monitor, report, and improve their ESG (environmental, social, and governance) performance. C3 AI ESG reduces the time required to gather, manage, and analyze disparate ESG data, and allows companies to identify ESG risks, capture opportunities, and accelerate initiatives to meet their ESG goals.

C3 AI ESG enables customers to integrate data from all their ERP, supplier, customer and manufacturing systems—plus relevant exogenous market data, emissions, and commodity data—and provide comprehensive Scope 1, Scope 2, and Scope 3 ESG reporting in compliance with any of SASB, GRI, TCFD, and CDP reporting standards. C3 AI ESG is entirely predictive, allowing companies to accurately forecast their ESG KPIs and plan mitigation measures to achieve their corporate ESG objectives. According to Verdantix, ESG is estimated to become a $30 billion market by 2030.

“As ESG objectives continue to rise on the corporate agenda, organizations require solutions to better plan, track, measure, and report ESG performance across their entire value chain,” said President Ed Abbo. “C3 AI ESG allows organizations to employ advanced AI and ML capabilities not only to provide complete visibility of their ESG status, but to identify and execute strategies to meet their ambitious ESG goals more effectively.”

AI shares faded 27 cents, or 1.9%, to $14.43.