Mining and Marketing Diamonds

Nikolozi Davlianidze, Verrazzano Class of 2022, completed major in International Business 

 

During my research about diamonds and the diamond industry, I discovered negative and positive factors which have influenced societies and economies in the past few hundred years. The diamond industry has been one of the most mysterious business segments, and it is a fascinating marketing example.

Diamond is composed of carbon, and the bonding of the atoms makes it the hardest single element. They are formed under pressure many miles below the earth's mantle and are ejected to the earth’s surface through vertical structures called kimberlite pipes in the oldest parts of the world. Explorers and scientists discovered these kimberlite mines in India, Brazil, Australia, Canada, South Africa, and Russia.

Diamonds created a specific market for the royal elite who were interested in owning a jewel for the aesthetics of their presentation. For example, Queen Elizabeth of England has a 530-carat diamond mounted on her crown. This diamond is the largest pear-shaped stone, and is known as the Great Star of Africa.

Mining diamonds is a controversial issue due to forced labor and human rights, which has happening for decades. According to experts, governments have used conflict diamond trade money to finance wars. In 2002, approximately thirty-seven countries adopted a diamond trade transparency process, also known as the Kimberley Process (KB) which reduces the flow of conflict diamonds.  

Diamond processing companies create opportunities for the local communities, which increases their living standards in developing countries. For example, a story I was told of a diamond polisher who works for Tiffany & Co is very touching because it allows to her earn a wage to take care of her family in Cambodia.

Today, many people can afford to own and wear some diamonds in their jewelry. 

Artificial Intelligence and the Accounting Industry

Nicole Agu, Verrazzano Class of 2021, completed majors in Accounting and International Business with a minor in Business Finance 

It is a bittersweet feeling to realize that my undergraduate college experiences have come to an end. I was one of those students who just wanted to commute to school, go home, and study. Despite being very quiet and introverted, I knew that I wanted to build memorable college experiences, so I decided to step out of my comfort zone and get involved. After several changes, I declared majors in Accounting and International Business, with a minor in Finance. I took an interest in the trend of artificial intelligence and how it will affect accounting industries so I took a data analytics class and information management to learn the application of relevant software in performing business related tasks.
As part of the requirements to graduate successfully from the Verrazzano program I carried out the research relating to my interest in intelligent automation, prepared a capstone project, and presented the project at the Undergraduate Research Conference. Prior to choosing my research topic, I attended an event, “Insight Reimagined”, hosted by the National Association of Black Accountants (NABA). In one of the CPE sessions, the value of understanding Intelligent Automation (IA) which contributes so much to a productive outcome in industries, was emphasized. Because of this seminar, I became interested in researching more on intelligent automation because technology is constantly evolving.
As a future professional accountant/entrepreneur, it is essential to have an understanding and knowledge of the digital future to perform any tasks effectively and provide valuable customer relations. By researching and making a presentation on IA, I could learn how companies adapt to IA to achieve their business goals and optimize customers’ experiences. It was interesting yet a challenging process to outline, but it was worth it because I understood the depths of my research topic, the evolution of intelligent automation and its impact on accounting firms. I utilized various articles from companies such as EY, PwC, Accenture, etc., to understand and elaborate on how artificial intelligence is transforming accounting industries.
The Verrazzano Honors program has prepared me for my long-term career, and I am very proud of not taking any opportunity for granted. I am excited to have completed my college journey, especially as a valedictorian and I am looking forward to accomplishing many more achievements as I begin my full-time career at Deloitte.  Having the right mindset in the next chapter of my life will help me succeed.