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The short-term rental market is experiencing a surge in demand, with platforms like Airbnb and Vrbo reporting record bookings. However, property owners are grappling with rising operational expenses, particularly energy costs. In regions with extreme weather conditions, heating and cooling expenses can become unpredictable and eat into profits. According to the International Energy Agency (IEA), buildings account for nearly 30% of global energy use, and inefficient energy systems are a major contributor to these spiraling costs. For many in the industry, the question has become: how can rental properties remain profitable while reducing their environmental footprint?

Finding this balance is becoming more critical as governments worldwide implement stricter energy efficiency standards. The EU’s Energy Performance of Buildings Directive (EPBD) aims for zero-emission buildings by 2050, and similar regulations in the U.S. offer tax incentives for energy-efficient upgrades. In this evolving landscape, property managers must juggle the initial investment in energy-saving technologies with the long-term cost savings they promise. This is where entrepreneur Daniil Demchuk is making a difference by providing practical, scalable solutions that have already been implemented in hundreds of rental properties.

“Energy efficiency is not just a cost-saving measure; it’s become an essential part of property management,” says Demchuk. His energy-saving system is built around a combination of IoT-based smart thermostats, automated lighting, and energy-efficient appliances, all integrated into a unified platform. Property owners can remotely monitor and control energy usage, adjusting settings in real-time based on occupancy or weather conditions. For example, the system’s automated lighting can dim or turn off when tenants leave a room, while smart thermostats optimize heating and cooling to maintain a comfortable yet efficient environment. “The goal is to cut down on unnecessary energy use without sacrificing tenant comfort,” Demchuk explains. His solution has reduced electricity costs by an average of 25% and lowered CO2 emissions by 150 tons annually.

What sets Demchuk’s system apart is its seamless integration and user-friendly design. Property owners can access all controls through a single dashboard, making it easy to implement energy-saving measures without requiring specialized technical knowledge. The technology also uses machine learning to identify patterns in energy usage and suggest further optimizations, providing a proactive approach to energy management.

With sustainability becoming a key differentiator, tenants today are more likely to choose properties that promote green living and energy efficiency. A recent study by the U.S. Green Building Council found that properties implementing sustainable practices see higher tenant satisfaction and lower vacancy rates, proving that green upgrades are a win-win for owners and tenants alike.

“Owners were initially hesitant about the upfront investment, but the long-term benefits—both in cost reduction and tenant satisfaction—are undeniable,” explains Demchuk. Other companies in the short-term rental sector are catching on. Greystar, a global property management firm, reported a 20% reduction in energy costs after adopting similar technologies, boosting property values and overall profitability.

Beyond profitability, Demchuk’s methods are setting new standards for energy efficiency in property management. “When other companies start adopting your methods, you know you’ve made an impact,” he notes. His approach has inspired other rental operators to follow suit, and property owners frequently reach out for consultations and audits to incorporate his methods into their own properties.

In addition to his industry contributions, Demchuk’s expertise earned him a spot as a jury member for the prestigious 21st Stevie Awards in September 2024. Recognized as a talented and successful entrepreneur, his role in evaluating innovative business practices reflects his industry influence and success.

Looking ahead, as governments enforce more stringent regulations and tenants become increasingly eco-conscious, adopting sustainable energy practices will no longer be a choice but a necessity. The future of short-term rentals depends on innovation, and as leaders like Demchuk demonstrate, the intersection of technology and sustainability will be key to navigating the next phase of industry growth.

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SK Telecom, a major player in South Korea’s tech landscape and part of SK Group, has revealed a transformative agenda to establish the nation as a central hub for AI data infrastructure across the Asia-Pacific. The announcement was made by CEO Ryu Young-sang during the recent SK AI Summit held in Seoul, where he presented the ‘AI Infrastructure Superhighway’ initiative—an ambitious plan aimed at building a highly advanced AI network.

Central to this project is the construction of a large-scale AI data center, initially drawing more than 100 megawatts of power with expansion plans reaching up to a gigawatt in capacity. SK Telecom is slated next month to debut a testing site in Pangyo, a tech-driven district south of Seoul, which will leverage Nvidia’s cutting-edge chips and AI technologies. This investment underscores SK Telecom’s commitment to staying at the forefront of AI infrastructure development.

Ryu outlined SK Telecom’s mission to secure South Korea’s place among the world’s top three AI leaders. This vision includes an integrated ecosystem encompassing high-performance data centers, Graphics Processing Units as a Service (GPUaaS), and edge AI solutions. As part of this goal, the company’s facility in western Seoul is set for a complete transformation into an AI-specific data center in collaboration with global cloud provider Lambda, with the project kicking off in December. This new AI center will enable GPUaaS, providing scalable, cloud-based solutions tailored specifically for AI applications.

In a further commitment to AI advancement, SK Telecom has earmarked 100 billion won (about $72.9 million) starting next year for the development of a “sovereign AI” system designed specifically to cater to South Korea’s unique market needs. Additionally, the company is advancing in edge AI technologies that blend telecom capabilities with AI computation for greater network efficiency. These innovations are expected to form the backbone of future sixth-generation (6G) networks.

Through these pioneering efforts, SK Telecom is actively positioning South Korea at the forefront of AI development, aspiring to make the nation a leading AI hub in the Asia-Pacific.

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Employee compliance training is one of the most important steps an organization can take to ensure compliance with regulatory requirements and ethical standards. However, this can only be successful if learners are engaged throughout the whole corporation.

Unfortunately, traditional training models often miss this objective and may result in disengagement and limited knowledge retention. That said, companies need to find new, better ways to train their team.

Read on to discover some of the challenges in compliance training and go through some strategies for making it more engaging for your workforce.

Understanding Compliance Training Challenges

While it is highly important, compliance training usually faces a lot of challenges that might lower its effectiveness. Some of the main ones include:

Lack of Interest

A primary challenge in compliance training is team member disengagement. Traditional programs often lack engaging compliance training software with interactive elements such as gamification and quizzes. This lack of interaction can lead to poor information absorption and knowledge retention.

They may also think of compliance training as a burdensome task rather than an opportunity to learn about something important. This could just be the kind of mindset that could hold back the effectiveness of the training since participants may only be waiting for the sessions to be over.

Another reason for disinterest could be the repetition involved in compliance training. Employees might have gone through similar content elsewhere in the past, hence seeming bored. Therefore, organizations may find it hard to get the attention of employees in compliance training.

Monotonous Content

Another challenge faced by compliance training programs is the delivery of monotonous content. Traditional training methods, such as lectures and PowerPoint presentations, can be dull and unengaging. These methods and the lack of practicality may fail to capture the interest of learners and make the training material irrelevant or outdated.

Employees may also feel overwhelmed by the amount of content they are expected to absorb; this can lead to a sense of information overload. This can also make it difficult for them to focus on the key points and retain the information presented.

Difficulty Relating to Real-World Scenarios

Another significant challenge for compliance training programs is bridging the gap between compliance concepts and real-world applications. Many employees may find it difficult to relate abstract regulations to the tasks they perform every day. This disconnect can then make compliance training irrelevant and impractical; the knowledge is neither retained nor applied. That is why only 12% of the organizations reported that their employees apply what they learn in training to their jobs.

Without concrete examples, employees may also struggle to envision the consequences of non-compliance. Conversely, when employees understand potential risks and penalties, they would be more inclined to adhere to regulations.

Strategies for Making Compliance Training Engaging

To overcome the challenges of traditional compliance training and create more effective programs, below are strategies companies could consider:

Interactive Elements

Engaging features can surely make compliance training more exciting and interactive; examples include quizzes, interactive videos, games, simulations, and role-playing exercises. In fact, stats show that interactive video maintains the attention of 82% of employees better than traditional video.

Managers can then create interactive quizzes to test employee learning. These could include key concepts on compliance and best practices and how employees best understand them. Such quizzes will help further solidify employees’ learning and point out where they may need additional training.

Real-World Scenarios

Real-life scenarios also make compliance training more interactive and effective. For one, simulations create hands-on situations where employees can apply compliance principles in their daily activities. The exercises can also expose them to some of the everyday challenges that they may face and the consequences of non-compliance.

For instance, a company could simulate a suspicious transaction, testing their employees’ ability to detect and report potential fraud in compliance with anti-money laundering protocols. Or, if you are in the tech sector, a simulated data breach could test your team’s adherence to data protection policies and incident response procedures.

Organizations can also provide an online environment for employees to discuss issues of compliance with colleagues; this enables them to share their ideas and gain experience from one another.

Personalization

Personalizing compliance training can also make it more engaging and effective. Research indicates that personalized learning experiences can boost learner engagement by up to 60%.

How can organizations make this happen? By adjusting learning paths for each employee, they can create specific training programs that address individual needs and areas of interest. This could involve interactive simulations for handling ethical dilemmas in their specific work contexts or role-specific quizzes to reinforce key compliance concepts.

Different departments often have varying compliance requirements, too. So, personalized learning can help employees understand exactly what they need to succeed in their roles. For example, sales representatives could receive focused training on ethical selling practices and customer data protection. Meanwhile, HR staff may be given in-depth training on fair hiring practices, workplace harassment prevention, and employee privacy laws.

Multimedia and Visuals

Employee training could also be made more interactive with multimedia and visuals. One way this works is by breaking up the monotony of traditional training methods; this can help boost employee attention, allowing them to absorb and retain key concepts in the training content.

Companies could leverage videos, animations, and infographics to illustrate hard-to-understand compliance concepts. Doing so can make information more appealing to team members and easier to understand.

Key Takeaway

Organizations could bring in more engaging compliance training programs by understanding and addressing the limitations of traditional models. Modern compliance training mitigates legal and reputational risks while boosting efficiency and engagement. This approach ensures employees develop the essential skills to uphold regulations and ethical standards in their daily work.

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You hear the word “compliance” and your mind starts racing. Where do you even begin? Navigating the tricky compliance maze can be overwhelming. But, in the face of sophisticated cyber threats, it’s crucial for the long-term success of your company. The best place to start in this journey is to look for the right automation software. By leveraging compliance automation, you can put time back on your clock to focus on what really matters, growing your business. There are many options out there, so we have taken some of the load off  for you by taking a deep dive into the top 7 compliance software. So, let’s get to it.

The Best SOC 2 Compliance Software & Tools

1. Scytale
   While Scytale may be small and relatively young, they stand firmly as one of the main players in the compliance automation space. They are especially praised for being the gold standard for B2B startups. Their intuitive interface coupled with their personalized hands-on compliance guidance, makes the daunting take of regulatory compliance substantially less intimidating. Scytale’s compliance experts support you every step of the way, offering practical tools and efficient solutions, making it the compliance automation package.

   Scytale’s platform offers features like automated evidence collection, continuous control monitoring, a customer policy builder, and seamless integration with popular tools, making them stand out amongst the compliance crowd. Compliance and cybersecurity protection is tricky to navigate, and Scytale has all the necessary bells and whistles to simplify the process significantly whilst reducing the workload.

2. OneTrust
   OneTrust is a versatile compliance software solution renowned for its robust features in data privacy and security compliance. The platform offers extensive tools for automated evidence collection, continuous monitoring, and policy management, all essential for SOC 2 compliance. OneTrust’s comprehensive feature set supports organizations in maintaining ongoing compliance and preparing for audits efficiently. However, the platform’s complexity can require significant training and support for new users, which may be a consideration for smaller businesses with limited resources.

   OneTrust may best suit larger, more well-established enterprises with an in-house compliance or security team. The depth of functionality and scaling capability may be too much for small startups. This complexity may result in increased costs later on.

3. Tugboat Logic
   Tugboat Logic now belongs to One Trust. They are a great choice for SOC 2 compliance as they are known for simplifying the process through their streamlined data management processes. With features like automated evidence collection, risk assessment tools, and audit readiness capabilities, the compliance journey is made as straightforward as possible, helping companies stay on track. Small to medium would benefit from TugBoat Logic’s guided workflows and template – providing clear, step-by-step assistance throughout the process.

   Users have noted that their customer service is lacking in some areas. Tugboat Logic recently moved over to a separate support portal, meaning customers aren’t getting assistance as timeously as they might need.

4. Zen GRC
   Zen GRC is a cloud-based platform, popular for their robust all-in-one hub. From centralizing compliance, audits and risk management, to third-party risk, governance, and policy programs, it’s a true GRC one-stop-shop. It’s praised for being fully-customizable and flexible, with the ability to tailor GRC processes to meet each company’s unique needs. This adaptability makes Zen GRC a good option for companies with complex compliance requirements. By offering a flexible framework, they can scale and evolve with the company.

   It is worth mentioning, however, that Zen GRC may not be ideal for companies that heavily depend on Jira. Some clients have reported syncing issues and expressed that a more robust Jira integration would have made their compliance process more seamless.

5. JupiterOne
   With automated evidence collection, Jupiter One stands as a cyber asset management and governance platform praised for being a massive time-saver, especially for start-ups. With deep visibility into both cloud based and on-premises assets, comprehensive asset visibility and vulnerability management are always well taken care of. For startups seeking a more tailored compliance solution, Jupiter One may not be specialized enough. With its innovative approach and centralized platform, it excels in asset visibility and vulnerability management, but may fall short for those needing more focused SOC 2 guidance.
6. LogicGate
   LogicGate is praised for their holistic approach to GRC (governance, risk, and compliance). Their robust solution is particularly effective because of their centralized dashboard that gives users a comprehensive view of all compliance efforts in one place. LogicGate stands out for their flexibility and customizable features like risk and policy management and automated evidence collection. This flexibility makes it a great choice for companies with specific or complex compliance needs.

   While the options for customization are extensive, it can come with a learning curve, requiring extra resources, training, and time. It is also important to note that SOC 2 is not LogicGate’s primary focus. So, companies looking for a solution required solely for SOC 2 may find the software falls short and is not focused enough.

7. AuditBoard
   AuditBoard is a cloud based platform offering audit, risk and compliance functions all under one roof. Their centralized approach focuses on these crucial areas making management and reporting more streamlined and efficient. AuditBoard is particularly strong when it comes to robust risk management tools and continuous compliance monitoring, ensuring companies stay compliant and remain one step ahead of potential risks. They are considered one of the most reasonably priced compliance automation software options.

   Whilst more cost-effective, it may lack some advanced features compared to their competitors who are more expensive. Reviews have also suggested that the onboarding process is tricky, especially if the company has more complex compliance requirements.

To nail your compliance, find software that matches with your company’s specific needs. Do thorough research, read customer testimonials (G2 is your best friend!) , and review expert opinions. This will help you pick a tool that simplifies compliance management and strengthens your security framework– which increases stakeholder and client trust exponentially!

By weighing the pros and cons of each option, you can make an informed decision that supports your compliance goals. Whether your focus is on ease of use, customization options, feature richness, or expert support, there is sure to be a compliance software that fits your needs perfectly.

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The cooling market in developing economies is projected to grow from approximately USD 300 billion annually to over USD 600 billion by 2050, according to a report released today by the UN Environment Programme (UNEP)-led Cool Coalition and the International Finance Corporation (IFC). The report indicates that Africa will see the most rapid expansion, with its cooling market multiplying sevenfold, while South Asia’s market is expected to quadruple.

The report, titled “Cooler Finance: Mobilizing Investment for the Developing World’s Sustainable Cooling Needs,” calls for prioritizing sustainable, energy-efficient, and environmentally friendly cooling solutions. As developing economies currently account for two-thirds of global cooling-related emissions, their cooling demand is expected to double by 2050 due to rising populations, economic growth, and urbanization.

Sustainable cooling technologies have the potential to reduce cooling-related emissions in these economies by nearly 50% by 2050. Achieving this goal will require:

• • Emphasizing passive cooling methods such as insulation, reflective materials, and expanded green spaces alongside energy-efficient technologies.
  • Implementing stricter energy performance standards, enforcing building energy codes, and phasing out climate-warming refrigerants faster.

Significant upfront investment is essential to meet these goals. Closing the existing gap in access to cooling for households and small-to-medium enterprises (SMEs) in developing countries will require between USD 400-800 billion, in addition to meeting future demand growth.

Inger Andersen, Executive Director of UNEP, emphasized the critical nature of cooling in the face of rising global temperatures.

Key recommendations from the report include enhancing data collection on cooling needs, costs, and financing, raising awareness, scaling successful business models, and increasing high-risk funding for pilot technologies. The report also highlights the importance of leveraging blended finance, concessional funding, and expanding the Global Cooling Pledge into a Sustainable Cooling Finance Partnership.

UNEP and IFC are committed to collaborating with governments, businesses, and stakeholders to mitigate investment risks and ensure that sustainable cooling solutions reach all, particularly low-income regions facing rising heatwaves.

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