The damage caused by fraud and corporate corruption is huge, enough to recall the "dieselgate" that Volkswagen lost at least $ 14.7 billion, or a tax scandal with Caterpillar, at a cost of $ 2 billion.
But modern data-processing technologies help avoid such situations, Quartz said. Recently, more and more large companies are using programs that collect and analyze large amounts of data from all corners of the corporate network and use suspicious transaction algorithms to use machine learning algorithms. In particular, such a solution is offered by American Convercent - its products are used by more than 600 companies, including Uber, Airbnb, Microsoft and Tesla.
Over the years businesses have used formal compliance procedures, trying to counter the consequences of unethical behavior of employees. Artificial intelligence, which replaces outdated procedures, is designed not to be detected, but to prevent corporate crime, establishing appropriate corporate behavioral culture.
The issue of business ethics has recently become increasingly important. Studies show that firms with an ethical business culture bring higher returns to their shareholders, and their stocks are less stable. Therefore, even today large companies are introducing stricter internal standards than those required by regulators.
Of course, it would be wrong to forge all the responsibility for controlling business ethics about technology - equally important is the public's response to violations. For a long time, the head of the company forgave unethical behavior, if it did not lead to direct losses or fines. Currently, the names of such managers fly directly over the network, often making their careers further impossible - posting on Twitter and Facebook is much more effective than regulators.
However, not everyone likes a system that tracks every action and every word of the employee. Often, such systems linked to Big Brother gather information that superiors have no right to: for example, about sexual orientation and political views of employees. This possibility violates their rights and may lead to discrimination.
Like any tool, data collection and analysis systems can be used for both good and evil. The question is, which in hand will be this tool and should not be used to control the handler.