Artificial Intelligence (AI) is a key tool for increasing business skills and improving productivity. According to the study Artificial intelligence in SpainCompiled by the consulting firm Ernst & Young, 89% of companies believe that artificial intelligence will improve their operations, while 74% value it for its properties to attract new customers.
The expansion of the environments in which AI and data analytics exist is putting companies in a regulatory corner. The lack of specific legislation on it and the legal restrictions on its use (for example, in everything that affects the privacy of individuals) pose notorious ethical dilemmas when applying these digital models.
AI ChatGPT, a machine language capable of content generation, is a clear example of what this new paradigm entails. Although the tools help automate some compliance tasks, and improve the efficiency and accuracy of processes (which helps reduce legal and regulatory risks), ChatGTP cannot replace individuals’ experience and judgment in compliance matters.
Defining a new framework that integrates AI functions without forgetting the human factor is of vital importance. The IE-Elecnor Observatory focuses on how a company’s organizational compliance culture (known as “compliance”, in its English name) must adapt and respond to the digital context. The observatory provides a clear and accurate view of the way in which artificial intelligence can be used to improve efficiency and effectiveness compliance regulations in the fight against corruption.
Work ethic is gaining strength
Corporate Social Responsibility (CSR) policies carry a relevant weight in companies. Sustainability, equality, ethics and compliance They are listed as major issues. IE-Elecnor Observatory analyzed the way companies and society change their vision to look for results and benefits. Little by little, they assert, more ethical elements will be incorporated into the definition of operations and ultimate goals.
In a market where it is sometimes difficult to compete in services or prices, there are many companies from various sectors that have made ethics their distinguishing element.
Jorge Ballester, Director, Elecnor Foundation
“Looking at the global socio-economic situation, we can see that issues around governance (corporate ethics) are gaining more and more strength,” says George Pallister, Director of Elecnor. “Business ethics and anti-corruption and anti-bribery practices are priority issues for the future, according to the latest developments Barometer on materiality Made by DIRSE & EY.
Customers positively value brands that demonstrate transparent management that respects law and ethics. “In a market where it is sometimes difficult to compete in services or prices, there are many companies from different sectors that have made ethics their distinguishing element. Therefore, ethics and regulatory compliance gain weight as a competitive element, ”says Jorge Balestre.
Bet on “compliance”
Implementing the regulatory compliance model within companies avoids legal issues. Many companies implement ethical policies and practices in areas such as employee treatment, environmental impact, and customer interaction.
As revealed A study on the compliance function in Spanish companies, 62.1% of companies have a specific job in this section. In smaller organizations, this percentage drops to 38.9%, while in larger organizations it rises to 92.6%. From these data it can be concluded that there is a direct relationship between the size of the firm and the existence of a job compliance”, Mirrors Jorge Ballester.
Organizations are not overly candid about the reasons why they do not have compliance. Among the arguments put forward were the non-compulsory nature of undertaking this function, lack of belonging to an organized sector, ignorance and lack of resources, both human and financial.
AI, ethics and “compliance”
IE-Elecnor’s latest research observatory in the way artificial intelligence and ethics are combined compliance. The meeting was attended by Enrique Aznar, Academic Director of the IE-Elecnor Observatory for Sustainable Cultures. Richard Benjamins, Head of Artificial Intelligence and Data Strategy at Telefónica; Javier Camacho, expert in ethics consulting and professor of ethical management in companies, and Manuela Battaglini, expert lawyer in digital ethics.
One of the main conclusions is that AI can not only improve compliance with various aspects within a company (such as cyber security), but also generate options for creating new business opportunities that are modified according to requirements in terms of security. compliance.
The benefits of regulatory compliance
The application of artificial intelligence in companies provides great advantages. This is how Camacho points out. “This technology is here to stay. Trillions of dollars are being invested and its applications are already being used in companies, with two main factors: selling more and saving costs. One of the best known examples is Chat botwhich facilitate customer service, or keywords, which help create content.”
This technology is here to stay. Trillions of dollars are being invested and their applications are already being used in companies, with two main factors: selling more and saving costs
Javier Camacho is an expert in ethical consulting and a professor of ethical management in companies
For his part, Petaglini points to a new corporate paradigm away from profit-taking as the only principle. “In the long term, this is not sustainable. There must be a change in how we perceive benefits, other than just financial ones. You can make money ethically, ”the expert emphasizes.
For the Benjamins, the fact that AI implementation and operations feature the creation of tools for companies that commercialize the technology, and the creation of standards that ensure all aspects are ethical, is crucial. “The European Commission started implementing ethical guidelines a few years ago, which have changed the definition of AI over time,” he recalls.
