Corporate Social Responsibility

The Irish Government has just announced plans to introduce the Regulation of Artificial Intelligence Bill in its Spring 2025 legislative programme, a pivotal piece of legislation aimed at giving full effect to the European Union’s Artificial Intelligence Act (EU Regulation 2024/1689). Even though the AI Act as a regulation has direct effect, this move is set to shape the national regulatory framework for AI governance in Ireland and establish national enforcement mechanisms in line with the EU’s approach. At the heart of the bill is the designation of Ireland’s National Competent Authorities: the entities that will be responsible for enforcing compliance with the AI Act. These authorities will oversee risk classification, conduct market surveillance, and impose penalties for violations. Given Ireland’s role as the EU base for major technology firms including Google, Anthropic, Meta, and TikTok, the effectiveness of its enforcement regime will be closely scrutinised across the EU and beyond. The Irish Government’s approach will be particularly significant due to the country’s track record in regulating the digital sector. Ireland’s Data Protection Commission (DPC) has wielded considerable influence over EU-wide enforcement of the GDPR, given the presence of multinational tech firms within the state. The DPC was designated as one of ireland’s nine fundamental rights authorities under the AI Act in November 2024. The bill will include provisions for penalties, though details remain unspecified. Under the EU AI Act, non-compliance can result in fines of up to €35 million or 7% of a company’s global annual turnover, whichever is higher. For Ireland, the challenge will be ensuring its enforcement framework has sufficient resources and expertise to oversee AI systems deployed within its jurisdiction. Tech industry leaders and legal experts will be closely monitoring how Ireland structures its national framework. The AI Act imposes strict obligations on high-risk AI applications, including those used in healthcare, banking, and recruitment. Companies will be required to maintain transparency, conduct impact assessments, and ensure that their AI systems do not lead to unlawful discrimination or harm. Ireland’s legislative initiative comes at a time of growing regulatory scrutiny over AI’s impact on society, innovation, and human rights. The AI Act represents the world’s most comprehensive attempt to regulate artificial intelligence, at a time other jurisdictions such as the USA are moving in the opposite regulatory direction. The Regulation of Artificial Intelligence Bill is still in its early stages, at the “Heads in Preparation” point. In the Irish legislative process, the Heads of a Bill serve as a blueprint for the eventual legislation. As Ireland moves toward full implementation of the AI Act, the government’s decisions on AI oversight will have significant implications for businesses, consumers, and the broader EU regulatory landscape.

As technology becomes the backbone of modern business, understanding cybersecurity fundamentals has shifted from a specialized skill to a critical competency for all IT professionals. Here’s an overview of the critical areas IT professionals need to master:  Phishing Attacks   - What it is: Deceptive emails designed to trick users into sharing sensitive information or downloading malicious files.   - Why it matters: Phishing accounts for over 90% of cyberattacks globally.   - How to prevent it: Implement email filtering, educate users, and enforce multi-factor authentication (MFA).  Ransomware   - What it is: Malware that encrypts data and demands payment for its release.   - Why it matters: The average ransomware attack costs organizations millions in downtime and recovery.   - How to prevent it: Regular backups, endpoint protection, and a robust incident response plan.  Denial-of-Service (DoS) Attacks   - What it is: Overwhelming systems with traffic to disrupt service availability.   - Why it matters: DoS attacks can cripple mission-critical systems.   - How to prevent it: Use load balancers, rate limiting, and cloud-based mitigation solutions.  Man-in-the-Middle (MitM) Attacks   - What it is: Interception and manipulation of data between two parties.   - Why it matters: These attacks compromise data confidentiality and integrity.   - How to prevent it: Use end-to-end encryption and secure protocols like HTTPS.  SQL Injection   - What it is: Exploitation of database vulnerabilities to gain unauthorized access or manipulate data.   - Why it matters: It’s one of the most common web application vulnerabilities.   - How to prevent it: Validate input and use parameterized queries.  Cross-Site Scripting (XSS)   - What it is: Injection of malicious scripts into web applications to execute on users’ browsers.   - Why it matters: XSS compromises user sessions and data.   - How to prevent it: Sanitize user inputs and use content security policies (CSP).  Zero-Day Exploits   - What it is: Attacks that exploit unknown or unpatched vulnerabilities.   - Why it matters: These attacks are highly targeted and difficult to detect.   - How to prevent it: Regular patching and leveraging threat intelligence tools.  DNS Spoofing   - What it is: Manipulating DNS records to redirect users to malicious sites.   - Why it matters: It compromises user trust and security.   - How to prevent it: Use DNSSEC (Domain Name System Security Extensions) and monitor DNS traffic.  Why Mastering Cybersecurity Matters   - Risk Mitigation: Proactive knowledge minimizes exposure to threats.   - Organizational Resilience: Strong security measures ensure business continuity.   - Stakeholder Trust: Protecting digital assets fosters confidence among customers and partners.  The cybersecurity landscape evolves rapidly. Staying ahead requires regular training, and keeping pace with the latest trends and technologies.  

Tax Reform Bills - 10 Most Frequently Asked Questions It is not unusual for a major reform such as this to elicit keen interest from all stakeholders. This development is necessary to achieve the best outcomes that benefit all as it provides an opportunity for further engagements which is healthy for the system. In this regard, we have collated the most frequently asked questions about the tax reform bills to better inform all stakeholders and address some misinformation in circulation. Question 3  Why is the VAT proposal generating so much controversy? Are we trying to fix what is not broken? Answer 3 The current VAT system is fractured. The major issues include: (i) disputes over VAT administration between some states and the federal government resulting in some landmark judgements and pending court cases. This is compounded by the fact that VAT is not stated in the 1999 Constitution thereby creating a lacuna. Our analysis shows that a central collection system is more efficient and benefits all. Once the contentious issues have been resolved, then VAT can be properly included in the constitution. The current sharing formula of FG 15%, States 50% and LGs 35% is proposed to become FG 10%, States 55% and LGs 35%. (ii) imposition of parallel consumption taxes in some states along with VAT which increases the tax burden on the people and contributes to multiple taxation. The reform seeks the discontinuation of all consumption taxes other than VAT.   (iii) basis of distribution - the current formula for sharing VAT among states is based on 20% derivation, 50% equality and 30% population. The tax reform proposes a different model of derivation which will attribute VAT to the place of supply and consumption rather than the current model which attributes VAT to the state where it is remitted thereby favouring states with companies headquarters. Further, derivation under the new model will account for 60% of VAT distribution for better equity and to discourage any state from seeking to administer VAT as a state tax, which will not only result in much lower revenue for all tiers of government but will impose a higher burden on businesses. The proposed derivation model is contained under S.22(12) of the Nigeria Tax Administration Bill which states that “For the purpose of attribution, any return under this section shall provide details of derivation of taxable supplies by location ...” The controversy has arisen from the perception that the proposed formula would lead to lower revenue for some states. However, the 5% to be ceded by the FG can be set aside for equalisation transfers to cater for any shortfall to a state under the new model. This ensures that no state is worse off in the short term while significantly enhancing economic activities and revenue for all states in the medium to long term. Watch the explainer here https://bit.ly/48LIVBN Read the FAQs for the 10 most frequently asked questions.

Mario Draghi's analysis of the future of European competitiveness highlights the changes that I have long considered necessary and urgent. Draghi points out that the telecom sector is overcrowded: "Today, the EU has dozens of telecom players serving around 450 million consumers, compared with a handful in the US and China, respectively," and adds, "as a result, in Europe both revenues per subscriber and capital expenditure per capita (...) are less than half the US’ and Japan’s levels," reaching the conclusion that "the declining profitability of the telecom sector now may represent a risk for industrial companies in Europe." There couldn’t be a more authoritative confirmation of the perfect storm I also described on stage at the GSMA Mobile World Congress in Barcelona in 2023 (https://lnkd.in/dfi5yQss). That’s where I showed how it was necessary and urgent to change the rules of the game, because #InactionIsNotAnOption. Some may have thought I was being provocative, but step by step, we are all converging on the same positions. First, there was the report "Much More than a Market" by Enrico Letta and Jacques Delors Institute, then the White Paper by the European Commission with Thierry Breton "How to master Europe’s digital infrastructure needs?". Now, Mario Draghi's perspective joins them, recommending to "reform the EU’s regulation and competition stance to complete the digital single market for telecommunications, harmonizing rules and favoring cross-border mergers and operations," and he adds in more detail: • "reduce country-level ex ante regulation and favor rather ex post competition enforcement • facilitate cross-border integration and the creation of EU-wide players • introduce a ‘same rules for same services’ principle across the EU • encourage the definition of commercial contractual agreements for terminating data traffic and infrastructure cost-sharing • incentivize the deployment of new infrastructures by defining cut-off dates for older technologies". Well, let’s continue down this path, united as we are already doing, thanks to the work of organizations such as the Confindustria team led by Emanuele Orsini, GSMA, and Connect Europe, with the indispensable contribution of the Ministero delle Imprese e del Made in Italy by Adolfo Urso, Alessio Butti, Agcom, and AGCM. We are ready to do our part, aware that the game we are playing is one of the most important: without #TLC, there is no digitalization. Report “The future of European Competitiveness”: https://lnkd.in/dhb875VR

From JUGAAD to JABARDAST🔥 Indians love jugaad and low-cost but that alone won’t get us from a $3 trillion to $30 trillion economy! We are a nation that sent a spacecraft to Mars on the lowest possible budget, reusing spacecraft modules and scientists wearing shower caps in lieu of protective headgear. Basically, sending a rocket into space at a cost that’s less than the budget of the Hollywood film Gravity :) It’s something all of us are super proud of ❤️ 🇮🇳 Plus, if you’re on a 0-1 journey, being frugal is one of the best things a founder can do. In fact, India’s strength has always been that we provide everything at a low cost > Our "sasta, sundar, tikau" imperative has been critical for a developing nation, but what got us here won’t get us there – to the league of developed nations. We need to tweak our approach from just makeshift solutions to also building robust, world-class products & innovations. And building businesses with a global market in mind 🌍 But how does one do that? I think it’s about building a meta culture that cuts across industries. Values that inspire people OR create a unique identity for the country’s products & services helping position them uniquely. Examples > 🇯🇵Japan - Kaizen > Best-in-world Quality Standards  🇺🇲America - The American Dream > Inventiveness & Dreaming Big  🇨🇳China - Confucianism & Guanxi > Hard-work & Strong Networks  🇮🇹Italy - Renaissance Humanism > Dominance in Design So, what can be one or two core values/ethos that binds 🇮🇳 as a brand as we move ahead in this century? Spirituality? Sustainability? Both? 1. What if we could own ‘sustainable’ in a way that every child had a core value of protecting the earth? What if this ethos permeated through our economy so that “Made in India” is automatically seen as superior in terms of environmental impact? 2. We already have a rich & deep history of being one with nature. Could spirituality set us apart as a country? Could we unleash that legacy in a way that pushes us up in the value chain while leaving everybody better off? We’ve proven our ability to overcome challenges with Jugaad. Now, it's time to prove our Jabardast leadership 💪 India's next chapter is waiting to be written. What do you think our core values should be? #india #growth #business #startup

The European Commission has introduced a new carbon tax on imported goods called the Carbon Border Adjustment Mechanism (CBAM). This is meant to make sure that European companies and companies from other parts of the world are on the same page when it comes to carbon pricing and environmental commitments. Here are the main changes: 🔴 Emissions Reporting: Starting in October this year, companies have to start keeping track of how much carbon is linked to the goods they import. They need to start reporting this data by January 2024. This reporting will continue until the end of 2025. 🔴 Carbon Leakage Prevention: CBAM is a way to prevent companies from moving their production to places with weaker environmental rules to avoid carbon costs. It makes sure that European products and products made outside of Europe have similar carbon costs. 🔴 CBAM Certificates: Importers have to get CBAM certificates to match the carbon pricing between EU and non-EU products. They need to provide details about the product's carbon footprint, where it's from, how it's made, and its emissions data. This includes emissions during production and indirect emissions, like electricity use. 🔴 Covered Sectors: CBAM applies to industries with high carbon emissions like iron and steel, cement, fertilisers, aluminium, electricity, hydrogen, and some downstream products like screws and bolts. It also covers certain indirect emissions under certain conditions. Importers mainly need to report emissions during the transition phase until 2026. To help importers and producers outside of the EU adapt, the EU Commission is providing guidelines and tools to calculate emissions. They're also offering training materials and webinars. Some important data points to consider: 🟢 Carbon Leakage: A study by the European Environmental Bureau warns that unchecked carbon leakage could cause a 15% increase in global emissions, undermining climate efforts. CBAM aims to prevent this. 🟢 Emissions Differences: The World Trade Organization says that different countries have different emissions rules, leading to different carbon costs. CBAM aims to make this fairer. 🟢 Economic Impact: The European Commission estimates that the global carbon allowance market could be worth €4.5 billion per year by 2030. CBAM will significantly affect international trade and revenues. 🟢 Industry Shift: A study by the European Parliament Research Service shows that without CBAM, high-emission industries might move to places with weaker rules, leading to job losses and less competitiveness in the EU. 🟢 Green Transition: The International Monetary Fund says that well-designed carbon pricing like CBAM can encourage industries to become more environmentally friendly, contributing to a greener global economy. 🟢 Regulatory Challenges: CBAM's reporting requirements might be tough for importers initially. However, the long-term benefits of fair carbon pricing are expected to outweigh the challenges.

🌍 How can humanity continue to develop without destroying the foundations of life on Earth? A major new study, co-authored by the PIK - Potsdam Institute for Climate Impact Research, charts a scientific path forward — and warns of the cost of inaction. Business-as-usual leads to ongoing deterioration in climate, biodiversity, freshwater, and nutrient cycles. But when ambitious climate policy is paired with systemic sustainability measures — like shifting to a low-meat diet, halving food waste, reforesting land, and managing water and nutrients efficiently — the damage can be halted, even reversed. By 2050, the planet can return to 2015-level conditions. By 2100, Earth systems could begin to recover significantly. 🧭 This study combines the planetary boundaries framework with integrated climate models to create a navigation system for decision-makers. At the World Meteorological Organization (WMO), we emphasize the power of climate services — turning science into actionable policy — to help countries and companies manage these risks, anticipate disruptions, and build long-term resilience. We need coordinated global action, driven by data and grounded in science. Because protecting our future means safeguarding the systems that sustain life. The tools are here. The science is clear. The time is now. https://lnkd.in/eVuR9yDu

Every taxpayer must know this! The New Tax Regime has become the default for taxpayers. While it offers lower tax slab rates, it comes with trade-offs, building the most investment-linked exemptions. This is what you should know about it: → The NTR provides lower tax rates compared to the old regime but eliminates most deductions like Section 80C. Like, the 30% tax bracket starts at ₹15 lakh in the NTR, compared to ₹10 lakh under the old regime.  → Salaried individuals can switch between regimes annually. However, they must notify their employer about their choice. Business taxpayers have limited flexibility, with only one lifetime switch back to the old regime permitted.  → A ₹50,000 standard deduction is available under both regimes, ensuring some relief for salaried taxpayers.  → The NTR simplifies compliance, making it easier for individuals who don’t invest heavily in tax-saving instruments. On the other hand, the old regime benefits those with significant tax-saving investments and expenditures.  But here is what you should do along with it:  – If salaried, communicate your choice promptly to avoid defaulting to the NTR.   – Form 10-IEA is required for business/professional income earners opting for the old regime.   – While salaried individuals can switch annually, business taxpayers have restricted options.  The New Tax Regime shows a shift toward simplicity and transparency in taxation. However, it also challenges individuals to rethink their financial planning. Whether you choose the old or the new regime, understanding the nuances can help you optimize your tax liability.  Have you chosen your tax regime yet? #taxregime #taxburden

As we edge closer to the 2024 election I want to share what I see in my emergency room. In my emergency room, I often encounter a striking reality: many of my patients, young, lower-income, frequently without a primary care doctor, are not just there for medical emergencies. They need work notes, prescriptions, a place to sleep, a warm meal, basic care – services that unveil a deeper issue in our healthcare system and society. To me, these visits reveal something more – a glaring gap in our democratic process. There are over 60 million eligible but unregistered voters in the U.S., a number equal to the population of Spain. Turns out, they’re the same folks I see in my emergency room. When I ask these patients if they're registered to vote, most often, the answer is no, and the reason? No one ever bothered to ask them. This isn't just a missed opportunity for civic engagement; it's a reflection of a system that often overlooks the most marginalized. That neglect has consequences on the laws that make up our healthcare system. But here lies a unique chance. Our healthcare system, an intersection where various overlooked demographics converge, can be a powerful platform for civic integration. By integrating voter registration into the healthcare setting, we engage with these individuals in a trusted space, through respected figures like doctors and nurses. This is the heart of Vot-ER. In the lead up to the 2024 election, we're not just registering voters; we're inviting them into the democratic fold, a democracy that works for and represents everyone. The progress? 80,000 patients helped to vote and counting across the country. This is more than healthcare; it's about empowering voices, one patient, one voter at a time. #civichealth #2024

Is the #bubble about to burst? #China has built up significant overcapacity in #EV and #battery production. Capacity utilisation in the Chinese battery industry is below 45%. 🚗 Even if all vehicles sold in China were electric, the local battery production capacity could not be fully utilised. Hence, it is very difficult to make money on the Chinese market at the moment. Positive profit #margins have become rare.   💸 This is hurting companies along the entire battery value chain. If this situation continues for much longer, we will see a range of #bankruptcies. 💥 Large, vertically integrated and globally active companies such as BYD and CATL have even managed to increase their profit margins in this market environment. #Consolidation is underway, at the cost of small companies and to the benefit of large ones. 💪 As a result, small businesses are becoming more willing to cooperate, while large companies are becoming even more powerful.