5 July, 2024
Artificial intelligence and ethical culture

Business organizations that seek sustainability, that is, to endure over time, are following two paths or, perhaps, the same path in two directions.

If we were to place ourselves on the Earth’s surface, we would say that, on the one hand, they are training astronauts and launching rockets to discover new planets, even new galaxies, while, on the other hand, they are sending archaeologists to analyze the heart of planet Earth.

To continue with the simile, astronauts are placed in a space race, that of data. Those companies that know how to better manage the use of data through artificial intelligence and quantum computing will be leaders in each of their sectors.

For their part, archaeologists have a more arduous task ahead of them, if possible: to know, consolidate and maintain what makes the company unique. Its ethical vision, its values and, ultimately, its organizational culture.

Business organizations need both groups of people—neither of which can be replaced by artificial intelligence—to remain sustainable. For this reason, company Boards of Directors must, on the one hand, set the strategy regarding the capture, management, and exploitation of data through AI and, on the other hand, and no less important, define, communicate, and monitor the organization’s culture.

 

 

From my point of view, the companies that will lead the business future will be anchored in these two pillars, which are intrinsically linked.

In the short and medium term, the strategy of using data through AI poses challenges in terms of talent management, regulatory compliance – especially in multinational companies operating in different jurisdictions – the attention to vulnerable customers, the traceability of machine behavior, or the concentration of suppliers for certain services.  among others.

If we talk about the long term, the challenges are greater. They are not only about the sustainability of the company, but they go beyond that. The governing bodies of leading companies will have to integrate into the strategic debate issues such as, for example, energy consumption linked to the use of AI, dependence on countries with unstable regimes, the generation of geopolitical tensions or mining exploitation to obtain rare earths in settlements of communities in developing countries.

In conclusion, the identification of the opportunities presented by the use of data through AI, together with the establishment of corporate culture, are inevitable processes  that leading companies must go through. Or, in other words: the setting of the business strategy and objectives; the identification of the potential risks that may arise in its achievement; The setting, communication and monitoring of risk appetite, as well as its control through a robust internal audit function, will be the foundations that allow us to have a solid roadmap to achieve the sustainability of companies.

Águeda de Lara Valero, Internal Audit and Globa Risks Director at Globalvia.