In 2023, Sama, a leader in providing data labeling, supervised fine-tuning, and model evaluation solutions for major AI models, announced the publication of its second annual Impact Report.
This report underscores Sama’s substantial advancements towards its sustainability goals and its continued progress in delivering benefits to all stakeholders. Key achievements include creating 581 entry-level jobs, transitioning its North American offices to 100% renewable energy, and joining the United Nations Global Compact (UNGC)—the world’s largest corporate sustainability initiative.
Progress and Ethical Commitment
Wendy Gonzalez, CEO of Sama, emphasized the company’s commitment to ethically developing AI. “Our commitment to ethical AI development includes being transparent about our governance, operations, compliance, and practices. By participating in initiatives like the UNGC and disclosing our efforts in our annual Impact Report, we highlight our ongoing dedication to doing right by people and the planet,” she said. Sama’s focus extends beyond quality; it actively supports social impact and adheres to rigorous ESG standards, valued by their enterprise customers.
In 2023, Sama created over 500 entry-level positions, providing underrepresented communities with opportunities for formal employment in the digital economy and fair wages. Research by Sama revealed that such employment significantly boosts the financial contributions of new employees to their families’ housing and educational expenses, demonstrating the broader positive impact of stable employment.
Environmental Goals and Global Standards
Sama also made significant progress towards its goal of achieving net-zero emissions by 2050 by switching its North American offices to 100% renewable energy. This initiative not only reduces the company’s carbon footprint but also sets a precedent for similar transitions in other Sama locations globally, including in Kenya and Uganda. These efforts are part of Sama’s broader strategy to halve its Scope 1 and 2 emissions by 2030 and reduce its Scope 3 emissions per employee by the same year.
As a new member of the UNGC, Sama aligns its operations with the UN’s Ten Principles, which cover human rights, labor, environment, and anti-corruption. The company has identified several UN Sustainable Development Goals (SDGs) that resonate with its mission, such as No Poverty, Decent Work and Economic Growth, and Reduced Inequalities. Sama commits to producing annual Communications on Progress reports detailing its advances towards these goals, with the first report expected later in 2024.
Living the Mission
Kristen Itani Koue, director of impact at Sama, highlighted the company’s dedication to its mission of empowering marginalized youth and women through digital skills training and formal employment. “Our Impact Report goes beyond just stating our mission; it shows how we actively live it out and balance multiple bottom lines as a business. I look forward to further detailing our progress in our upcoming UNGC Communication on Progress,” she stated.
In addition to these efforts, Sama has implemented key governance policies and launched a supplier responsibility program in East Africa, requiring major vendors to adhere to a comprehensive Supplier Code of Conduct. This initiative covers various aspects including health and safety, human rights, fair working conditions, sustainability, and business ethics.
Regulatory Compliance and Future Directions
In 2023, Sama also adhered to critical legislation, such as the Sustainable Finance Disclosure Regulation (SFDR) in the European Union, reporting on diversity, equity, inclusion and belonging, climate action, and governance. Additionally, in response to the German Supply Chain Due Diligence Act (SCDDA), Sama completed multiple disclosures regarding its ESG governance, human rights and labor standards, health and safety, and climate action, supporting its customers in meeting their compliance requirements.
These initiatives reflect Sama’s comprehensive approach to developing AI responsibly and ethically, setting a benchmark for corporate responsibility in the tech industry and reinforcing its commitment to creating a positive impact on both society and the environment.
Source: businesswire.com
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As artificial intelligence (AI) continues to make global headlines, ethical concerns and regulatory compliance are becoming increasingly critical.
This is especially true in Africa, where the tech landscape is rapidly changing amid unique challenges and opportunities. Vishala Panday, Head of Compliance and Business Services at Afriwise, emphasizes that AI should be seen as a tool that enhances, rather than alters, core values.
“AI is an enabler; it’s a vehicle, a mechanism, but does it change your core values? It shouldn’t,” asserts Panday. She underscores that despite the rapid evolution of technology, the fundamental ethical considerations should remain constant. This insight is crucial for African businesses navigating the complex terrain of innovation and compliance.
With a background spanning law, industry, procurement, and compliance, Panday offers a unique perspective on the regulatory technology (regtech) challenges facing African businesses. “I’m just an outlier when it comes to legal people,” Panday reflects, acknowledging her non-traditional career path which has equipped her with a rare blend of legal knowledge and business acumen, essential for bridging the gap between compliance requirements and practical implementation.
A significant challenge she identifies is the gap between legal practitioners and technology. “The two most counterintuitive concepts are legal and technology because they just don’t mesh,” she explains. This disconnect can hinder the implementation of effective compliance solutions, especially in Africa where many businesses are just beginning their digital transformation journey.
For many African companies, the concept of AI-driven compliance is still nascent. Panday observes that these companies often lack clarity about what they need from compliance programs, leading them to invest in complex solutions that exceed their current capabilities. Instead, she advocates for “fit for purpose” technology—solutions that align with a company’s existing maturity level and can grow with it. “Can we take you to the end, and connect the dots backwards?” she poses, stressing the importance of developing solutions that not only advance technologically but also adapt to local conditions.
While concerns about AI bias dominate discussions in more developed markets, these issues have yet to become a priority in Africa. Instead, the focus is on utilizing AI to foster compliant business practices and reshape perceptions about doing business on the continent. However, Panday acknowledges the potential for future concerns regarding bias in AI systems, emphasizing the importance of vigilance and accountability.
“We want Africa to be more attractive,” states Panday. By leveraging AI to enhance regulatory compliance, she aims to change the narrative around African business environments, often perceived as high-risk. This vision extends beyond just adopting new technologies; it involves using innovation to tackle systemic challenges and foster economic growth.
Panday also warns against a superficial approach to compliance, where businesses merely tick boxes without adding real value. She argues that true compliance transcends mere documentation and requires a deep understanding of regulatory demands and their practical business implications.
The evolving landscape necessitates a new skill set among legal and compliance professionals, one that bridges the gap between legal expertise and technological acumen. “To scope for technology, you need to know the end-to-end process,” Panday explains, highlighting the importance of comprehensive understanding in developing effective compliance programs.
As Africa’s tech ecosystem matures, there is a unique opportunity to bypass legacy systems and set new standards for responsible innovation. Panday’s vision for AI in reshaping Africa’s business landscape is both ambitious and timely, calling on tech leaders and policymakers to consider long-term implications over short-term gains. As AI adoption grows, the focus on ethics and compliance will likely intensify, setting the stage for Africa to potentially lead in developing a model for ethical AI that could influence practices worldwide. In this evolving context, voices like Panday’s are crucial in steering the continent toward a future where technology is a catalyst for inclusive and sustainable growth.
Source: ventureburn.com
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A recent report from Citigroup has highlighted the potential for AI to significantly impact the global banking industry, suggesting that AI could add as much as $170 billion to banking profits globally by 2028. This represents an increase of approximately 9% to the sector’s profit pool.
The report also notes that the banking sector is particularly susceptible to automation, with 54% of jobs having a high potential to be automated and an additional 12% that could be augmented by AI technologies. This is the highest rate of potential job displacement compared to other industries.
Despite the risks to jobs, the adoption of AI is expected to boost profits substantially. A survey by Citi Treasury & Trade Solutions revealed that 93% of respondents anticipate profit increases in the coming years due to AI implementation.
David Birch, the author mentioned in the report, sees considerable opportunities for AI-led transformation in the banking sector. Simple tasks, such as assisting customers with opening financial accounts, could be streamlined with AI. “Even a basic bot could help make better and faster decisions,” Birch stated.
Job Implications
The transition toward AI will likely impact employment in banking, particularly roles that involve manual and repetitive tasks. Roles in back offices, analyst positions, and banking jobs that involve tasks like transferring data between systems are most at risk.
However, new job opportunities are also expected to emerge, particularly in areas like AI compliance, ethics, and governance. The importance of “soft skills” is also expected to grow, with interpersonal skills and the ability to understand customer needs becoming more valued.
Challenges and Considerations
The banking sector’s reliance on data offers significant potential for increased efficiency through automation. However, as a heavily regulated global industry, the implementation of AI in finance faces several challenges. These include slow adoption rates due to risk factors, the cost of acquiring skilled talent, and increased competition.
Shameek Kundu, CDO at Truera and an AI entrepreneur, points out accuracy issues as one of the major obstacles to the use of generative AI in corporate settings. Additionally, the finance industry’s long-standing proficiency with statistical models may slow AI adoption, as the advantages of AI and machine learning over traditional methods are not always clear.
Despite these challenges, Citigroup remains optimistic about AI’s transformative potential in banking, suggesting that the way banks and financial firms operate could evolve rapidly, echoing the changes seen over previous decades. AI is expected to accelerate this evolutionary process, reshaping the industry much like past technological advancements.
Source: computing.co.uk
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