Standard Bank and Stellenbosch University are exploring an answer through a new framework designed to guide the responsible adoption of AI in business.
Combining the bank’s financial and industry expertise with the university’s strengths in data science, computational thinking and ethics, the collaboration aims to help organisations unlock AI’s benefits while addressing concerns around security, accountability, transparency, privacy and human oversight.
“While AI presents significant opportunities to enhance efficiency, innovation and client experiences, it also introduces a degree of uncertainty due to its complexity,” said John Mukomberanwa, head of digital insights at Standard Bank Corporate and Investment Banking.
The partnership and responsible AI framework were announced at a panel discussion hosted at the Hazendal Hotel & Spa, Cape Town, where experts reflected on the framework, its approach and its practical application. The framework assists businesses to unlock the value of AI while ensuring its implementation remains responsible, trusted and sustainable.
“We saw it fitting to partner with a reputable academic institution, combining our financial and industry expertise with the university's strength in data science, computational thinking, and ethics to find a solution that shapes practical approaches to responsible AI adoption in the business landscape,” explained Mukomberanwa.
As part of the collaboration of the two institutions, they have developed the ethical AI framework to guide responsible innovation. Entitled SBSA Responsible AI Approach, the framework essentially establishes the parameters for the responsible development, deployment and usage of AI while looking into methods that assist in accelerating its impact in the business environment.
The framework establishes a clear foundation for designing, developing and deploying AI systems that are safe, robust, and secure, with appropriate human oversight and accountability throughout their lifecycle.
The implementation of AI in businesses has come under increasing scrutiny from an ethical and human-rights perspective due to concerns about bias and discrimination, transparency, accountability, privacy and the overall impact of AI-driven decisions on individuals and society.
These concerns have heightened uncertainty, particularly in industries such as financial services, where decisions and outcomes can directly impact people's livelihoods, businesses, and the broader economy. This highlights the ongoing question on ethics in the age of AI and its implications in the business environment.
According to Statista, 30% of B2B companies were actively implementing AI across their organisations in 2025, up from 23% in 2024, indicating a shift from experimentation to enterprise-wide deployment.
“We were delighted to find a partner in the industry that had the foresight to utilise our deep technical expertise and deep ethics knowledge to create a framework that can be applied to any business and for wider societal impact.” said Kanshukan Rajaratnam, the director of the School for Data Science and Computational Thinking at Stellenbosch University.
However, the director warned about the importance of maintaining and adapting the framework. “It is important that the document be maintained as an evolving and adaptable framework, as AI is dynamic and continuously changing, contributing to its increasing complexity.”
