Insights from the 2024 EEI Business Diversity Conference in Atlanta, GA

The Edison Electric Institute (EEI) Business Diversity Conference, held in Atlanta, GA this 21-24 May, was a pivotal event that brought together industry leaders, small business owners, and #diversity advocates to discuss strategies and insights on enhancing supplier diversity, economic impact, and the integration of advanced technologies in business practices. The event's primary focus was on fostering #inclusive business environments, enhancing economic contributions from diverse suppliers, and leveraging #technology for better business outcomes.

Key Takeaways

Economic Impact and Supplier Diversity

Economic Impact Reports: The conference showcased the findings from EEI's economic impact reports from 2019 and 2022. A significant increase in direct spending with small and diverse businesses was noted. The total spend in 2022 was $24.9 billion, with an overall economic impact of $46 billion.

Indirect and Induced Impact: Beyond direct spending, the importance of capturing indirect and induced economic impacts, such as job creation and community spending, was emphasized. Advanced algorithms were highlighted as tools to analyze these deeper impacts.

Challenges and Future Plans: Challenges included data submission reliability and supplier transitions. Future plans involve improving data submission processes and potentially changing providers to enhance the accuracy and timeliness of economic impact.

Diversity in EPC Projects: The need for strategic bundling and subcontracting plans to include small and diverse businesses in #Engineering, #Procurement and #Construction (EPC) projects was discussed. Best practices for engaging diverse suppliers in large-scale projects were shared.

Integration of AI and Technology in Business

Efficiency Gains through AI: AI's role in automating repetitive tasks and enhancing personalized consumer engagement was underscored. AI in predictive analytics supports better decision-making across sectors, including utilities, for more reliable and safer service delivery.

Challenges and Ethical Considerations: While AI offers significant efficiency improvements, challenges such as data bias and potential job displacements were acknowledged. The critical need for human oversight and collaboration with AI to address complex challenges was highlighted.

Adapting to AI Technology: Businesses were encouraged to adopt AI to avoid obsolescence, with a focus on creativity, research advancement, and operational excellence. Training programs and project governance were suggested to mitigate workforce shortages and enhanced labor market impact.

Global Market Dynamics and Talent Acquisition

Competition for Talent: The conference highlighted the importance of competing for top talent and adapting to shifts in global markets, particularly with the rise of China and India as substantial competitors.

Domestic Sourcing Preferences: Younger workforce preferences for non-imports and the importance of understanding and catering to employee perspectives on sourcing were emphasized.

Leadership-Driven Diversity Initiatives: An analogy was drawn between diversity initiatives and safety standards, advocating for leadership-driven change to foster more inclusive business environments.

Sustainable Business Practices

Environmental #Sustainability: The adoption of electric vehicles (#EVs) and the design of future office spaces were discussed as trends towards environmentally friendly business operations.

Operational Efficiency: Small businesses shared strategies for maintaining operational efficiency and contributing to Environmental, Social, and Governance (#ESG) goals without incurring significant costs by utilizing digital technology and minimizing physical resources. Hint, hint ;-) less is better... Kaizen always!

Advancing #DEI Initiatives

Strategic Importance of DEI: The conference emphasized the role of Diversity, Equity and Inclusion (DEI) initiatives in sustaining business growth and creating inclusive work environments. DEI was positioned as a competitive advantage rather than a compliance requirement.

Leadership and Legal Challenges: The role of corporate #leadership in integrating DEI into business models and strategies was discussed, along with the impact of recent judicial decisions on DEI initiatives in public and private sectors.

Innovative Approaches: The potential of DEI initiatives to drive #innovation, customer satisfaction, and business outcomes through diverse perspectives and inclusive practices was highlighted.

Conclusion

The EEI Business Diversity Conference in Atlanta, GA, provided valuable insights into enhancing #supplierdiversity, leveraging technology, and fostering inclusive business practices. The event underscored the importance of strategic planning, leadership commitment, and innovation in achieving goals. By addressing challenges and sharing best practices, the conference aimed to empower businesses to create a more inclusive and equitable economic landscape.

Many thanks to National Grid (a leader in the global #energy transition, RBR 23/24), my colleagues and leaders Saken Pillay Khokhar , Daphning P. , Neema Eftekhari , Raman Hir , Chris Burnett , Fleur Callender , Bill Malee , Shri Madhusudhan , Donna Hicks , Nicola Rigby White , Simon Harnett for leading change and leading people in this beautiful #energy industry of ours ...

Shout outs to all those who shared their "old school" business cards; making some good use of it ... lol!

Diverse suppliers: scan my QR code and email me for our 4-Point Roadmap on "How to do business with National Grid ... don't be shy :) follow up if I don't reply! But once I reply you must own the process... specially step 1d, and 2a

1d_How to do business with Nat. Grid: Basic + Advanced

2a_ register capabilities thru SupplierIO: MUST answer all questions!

Lastly, big hug to all my Edison Electric Institute #Business Diversity team mates, Valerie Coyazo , Paul Buerkle - CPSM, CPSD , Leviticous "Vic" Cleveland , Vickie Irwin-Avery, CPA, PMP , Vernice Lewis , Alejandro Serrudo , Dallas Simmons , Byron Witherspoon, PMP, and the many others not on LinkedIn but actively engaged thru Supplier Diversity endeavors, specially LaVonne M. Rose who always "rocks!" the conference logistics and food :D ...

Tatiana P. , Dominick Manno , fellow supplier diversity champs Avangrid plus Venezuelan Daniel Sierra, PE, ENV SP, MBA event's panelist on Strategy to Execution: Navigating in Today's Climate, and Nilson Goes , a highly motivated Brazilian and diverse entrepreneur at Infinite Energy Engineers

Lastly, below a list of all speakers and industry leaders at event: Dan R. Brouillette , Paul Buerkle - CPSM, CPSD , Tiffany Callaway Ferrell , Moanica Caston , Cassandra Charles-Gerst , Ralph Cleveland , Leviticous "Vic" Cleveland , Aaron Cope Jr. , Valerie Coyazo , Sarah Douglas MasTec , Megan Fielding , Rivers Frederick Entergy , Paula Glover Alliance to Save Energy , Stephanie Hickman , Vickie Irwin-Avery, CPA, PMP , Jim Kerr , Vernice Lewis , Monty M. , Sherese Montgomery The Desoto Group , Shalaya Morrissette U.S. Department of Energy (DOE) , Courtney A. Peterson, PCC , Alejandro Serrudo , Daniel Sierra, PE, ENV SP, MBA , Dallas Simmons , Courtney Steward DTE Energy , Janet M. Stovall, CDE , Glenda Thomas , Nikita Trivedi Southern Company , Bernice L Walker , Denise Wallace , Byron Witherspoon, PMP, , Brandon Young, PMP