SABIC drives compliance training business ethics programs to boost corporate governance

The chemical manufacturing major ensures that the e-learning courses reach the right people in its supply chain and that trainees have the tools to follow up if necessary. (Reuters)
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Updated 06 August 2022
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SABIC drives compliance training business ethics programs to boost corporate governance

  • The chemical manufacturing giant led the implementation of a global trade system that allows automated compliance screening of customers

RIYADH: Saudi Basic Industries Corp. and anti-bribery firm Trace International have successfully provided compliance training to 4,500 third-party business partners since July last year to advance corporate governance in the organization.

According to SABIC vice president of legal affairs Naveena Shastri, each of the company’s third-party business partners, which included suppliers, distributors and contract workers, were trained in four to five compliance training sessions, totaling 20,000 sessions.

Of the 20,000 sessions, 18,090 sessions constituted temporary employees. The company also trained 44.3 percent of its temporary workers in the first half of 2022.

A total of 619 training sessions were conducted for SABIC’s suppliers in the second quarter of 2022.

“In any place we operate, we develop ecosystems where doing business with integrity is the norm,” said Shastri.

BACKGROUND

SABIC was awarded the Compliance Leader Verification for 2022 and 2023 from Ethisphere, a global leader in defining and advancing ethical business practices.

The program offers face-to-face or online training in Arabic, with training materials and formats updated regularly. 
By doing this, Shastri said that the company could ensure that its small and medium business partners understand the company’s compliance concepts.

All SABIC employees are required to attend comprehensive compliance training, refresher courses, and special training on specific topics, such as antitrust legislation, fair employment practices, and trade controls, to build the proper foundation for ethical compliance, she added.

In addition, Shastri pointed out that SABIC led the implementation of a global trade system that allows automated compliance screening of customers with applicable international trade sanctions.

Due to the company’s commitment to corporate governance and ethics, the chemical manufacturing major was awarded the 

Compliance Leader Verification for 2022 and 2023 from Ethisphere, a global leader in defining and advancing ethical business practices, Shastri said.

It was the company’s second consecutive year to receive the award following November 2021.

In previous sessions for its suppliers, the speakers elaborated on the importance of an ethical business model and why stakeholders — both global and regional — are increasingly seeking evidence of effective compliance practices.

The company has been collaborating on this front with compliance organizations such as the Pearl Initiative and Nazaha, the Oversight and Anti-Corruption Authority in Saudi Arabia.

Often facilitated by nongovernmental organizations, SABIC also plays a crucial role in cross-industry collaboration. 

It participates in several global, multilateral anti-corruption initiatives, including the annual Business 20, the official business dialogue forum of the Group of 20 nations and the World Economic Forum.

Due to the company’s size, it ensures that the e-learning courses reach the right people in its supply chain and that trainees have the tools to follow up if necessary. “The company builds capacity, awareness, and knowledge in countries where some of these are new compliance concepts, and sets standards that its suppliers must follow to participate in business activities with SABIC,” Shastri concluded.


Artificial intelligence is transitioning into a ‘digital employee’

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Artificial intelligence is transitioning into a ‘digital employee’

  • AI can be an effective tool, business leaders tell Arab News
  • Not about jobs, but ‘convergence of human capital and AI’

RIYADH:  Artificial intelligence is fundamentally reshaping the world of work, transitioning from a supporting tool to an active partner that is radically changing the nature of professions and productivity standards.

Amidst the current global transformations, an active regional digital environment is emerging.

This is being led by Saudi Arabia through Vision 2030 and massive investments in smart infrastructure, providing a living model for studying the implications of this partnership between humans and machines on the future of work in the region.

Arab News spoke to various business leaders about the emerging shape of the sector.

Salem Bagami, co-founder of Metatalent, said the ideal relationship between humans and machines at work should be complementary and collaborative.

Humans would bring creativity, emotional intelligence, and complex decision-making, while machines excel at processing big data and performing repetitive, precise tasks.

He believes that this type of balanced partnership would lead to unprecedented productivity and innovation.

While machines excel at processing big data and performing repetitive, precise tasks, humans would bring creativity, emotional intelligence, and complex decision-making. (Supplied)

Mohammad Al-Jallad, chief technologist and director at HPE, said AI has gone beyond being merely an executive tool to becoming a “digital employee” entrusted with automating routine tasks and providing insights based on data analysis.

He believes that the real opportunity lies not in the debate over job replacement, but in “the convergence of human capital and artificial intelligence.”

AI should augment human teams by taking on menial and routine tasks, enabling employees to focus on critical thinking, creativity, and ethical reasoning, significantly improving operational results.

Bagami also emphasized the complementary nature of this partnership. “The ideal relationship between humans and machines at work is one of collaboration, where each complements the others.”

He explained that humans bring creativity, emotional intelligence, and nuanced decision-making, while machines excel at processing big data and performing repetitive tasks efficiently, leading to increased productivity and innovation.

Opinion

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Salem Alanazi, chairman of Jathwa Technology Co., notes a significant trend among Saudi Arabia companies toward using AI applications to provide faster services to customers at lower costs.

The emergence of the “virtual employee” available around the clock has eliminated the need for some traditional jobs in specific sectors.

Alanazi warns that some companies’ reluctance to adopt AI may expose them to real risks. “All those who hesitated to benefit from AI applications have a lack of understanding of these technologies.”

He said those who adopt these technologies will be able to offer lower-cost, higher-quality services, which will affect the market position of companies that lag behind.

Ali Aljumhour, CEO of VALUE Consultancy, said that the transition of AI into a partner has reshaped the list of most in-demand skills in the job market.

Skills such as “prompt engineering,” “human-machine integration,” and “digital ethics” are becoming increasingly important.

He added that AI has become an instantly available “technical knowledge base,” shifting the criteria for professional distinction toward those capable of smart interaction with these technologies.

In terms of ethics, transparency, and trust, Alanazi points to the complexities of global AI governance, where legislation overlaps and evolves rapidly to keep pace with potential risks, particularly in the areas of cybersecurity and privacy.

Ali Aljumhour, CEO of VALUE Consultancy. (Supplied)

Al-Jallad emphasizes this crucial dimension, noting that providing responsible and reliable AI solutions that meet the highest standards of transparency is a key priority, especially in regulated sectors.

Bagami believes there should be basic standards for the ethical use of Al, emphasizing the need for transparency, accountability, and fairness, along with using diverse data sets to prevent bias and protect privacy.

He believes that building trust between humans and machines requires clear explanations of how systems work, giving users the opportunity to provide feedback and conducting periodic performance reviews.

On performance evaluation, Aljumhour said: “I expect radical changes in standards, shifting from measuring individual effort to evaluating the quality of the partnership between humans and machines.”

There should be a focus on the quality of inputs provided to intelligent systems, the accuracy of review and modification, and complex decision-making based on outputs.

He warns, however, of new risks that may arise, such as over-reliance on AI or difficulty in determining responsibility for mistakes.

In the employment sector, Aljumhour expects fundamental changes in standards.

There will be questions and tests focusing on measuring skills in dealing with AI, such as asking candidates about their experiences of collaborating with these systems, or testing their ability to formulate effective requests for complex tasks.

Aljumhour identifies significant human challenges in this transition, with “fear, loss of power, and exclusivity of knowledge” being the biggest concerns for experienced employees.