Mastercard’s ethical approach to governing AI

Companies need clear guidance to achieve sustainable business transformation. A practical roadmap identifying drivers for effective change can make success more likely.

In today’s rapidly changing world, the urgency to maintain focus on sustainability has never been greater. While the triple planetary crisis of climate change, biodiversity loss, and pollution demands immediate action, new challenges such as geopo...

With fact-checking out and community-driven moderation in, Meta is betting big on free speech – but critics warn the move could open the floodgates for disinformation and online harm.

In June 2024, at the CocoaCrafters Operating Centre, Elena Fever faced a crucial meeting with the board of directors. The discussion surrounded how to integrate Generative AI (GenAI) into the company’s supply chain strategy to enhance forecasting and simulation while maintaining ethical standards. CocoaCrafters (CC), a global confectionery leader, was renowned for its commitment to sustainable cocoa sourcing. Despite the board’s strong business acumen, they lagged on the digital agenda and for them the only success criterion was a convincing ROI. Elena’s challenges were amplified by the unknowns surrounding GenAI. Since ChatGPT’s debut, she had been urging her team to identify use cases that aligned with CC's strategic priorities and met its ethical commitments. CC’s digital transformation had begun in 2010 and was marked by phases of awareness, strategic adoption, advanced technology integration and a digital-first culture by 2020. CC’s unsuccessful blockchain project underscored the need for careful planning and ethical considerations in adopting new technologies. CC aimed to use GenAI to optimize its supply chain by forecasting cocoa yields, predicting market trends and simulating environmental impacts. However, ethical concerns about labor conditions and data manipulation persisted. Elena considered the HITL-HOTL-HOL framework for human involvement in AI decisions, reflecting on input from FMCG executives and consulting experts. Despite a lack of specific GenAI decision-making frameworks, traditional strategic basic frameworks were emphasized. Elena presented the board with strategic choices: waiting, focused phased use cases, full integration, or strategic partnerships.

When the dotcom bubble burst in March 2000, this did not stop the world from going digital, but it did poke holes in the concept of trust, especially in the digital world. David Goldenberg, a Belgian entrepreneur with extensive experience in management consulting, was confronted daily with the hassles of recruiting when information about candidates could not be validated easily. Research showed that 30% to 50% of CVs contained errors, omissions or outright fraudulent claims. Could trust in the recruitment process be re-created for the benefit of all parties? The initial idea in 2010 was to develop a solution for digitally certified diplomas, and it led to the launch of CVTrust. Through a number of iterations based on feedback from early adopters, including some prestigious European business schools, the solution evolved from Smart Diploma to Smart Certificate and a full suite of fully integrated SaaS addressing the digital certification needs of all certificate-granting institutions. By 2024, CVTrust was forced to revisit its business model, competitive advantages and routes to market for a number of reasons. These included the emergence of open standards, legislation on digital certificates and an increase in digital education in the wake of the Covid-19 pandemic. Was it time to pivot again to remain relevant?

AI is rewriting the rules of hiring – job seekers and recruiters alike must adapt to a process driven by algorithms but grounded in human connections.

Effective leadership, a clear narrative, and a shared vision are vital ingredients for bringing lasting change on sustainability.

Global market shifts and turbulence in 2025 mean Chief Financial Officers must take into account inflation, trade tensions and shifting regulations to ensure long-term growth

Here are the 16 sustainability trends IMD experts predict will drive business transformation in 2025.