A “PRACtical” View of Emerging Risk Management Technologies

John Wheeler

Gartner’s “Hype Cycle for Risk Management, 2019” report was published almost a month ago and reader response has been overwhelmingly positive. In this year’s report, we highlight the need for a “PRACtical” view of risk management technologies to fuel digital business growth. Hype Cycle for Risk Management, 2019 Source: Gartner. Risk management continues to mature and is offering a more practical approach to CEOs looking to improve.

Digital Risk is Primary Focus for Corporate Boards in 2020 & Beyond

John Wheeler

Digital risk continues to grow in importance for corporate boards as they recognize the critical nature of digital business transformation today. Not only that, but 49% of directors cite the need to reduce legal, compliance and reputation risk related to digital investments.

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Britain's telcos face fines if they use suppliers deemed high-risk, like Huawei

DataFloq

LONDON (Reuters) - Britain's telecoms companies could be fined up to 10% of turnover or 100,000 pounds ($133,140) a day if they contravene a ban on using equipment made by China's Huawei Technologies Co Ltd under a new law put forward on Tuesday.

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Digital Risk “Techquilibrium” Requires IRM

John Wheeler

Over the past month, I’ve been speaking to various groups to help them prepare for the onslaught of digital risks in their organizations. A common theme is the need for greater risk quantification beyond the realm of traditional, qualitative governance, risk and compliance (GRC) approaches. Digital Risk Management – Gartner. However, in the pursuit of techquilibrium, organizations must take their risk analysis a step further to the strategic view.

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Serverless and Containers: How to Choose the Right Application Strategy

Speaker: Tolga Tarhan, Senior Vice President, GM AWS Services at Onica

When it comes to the modern tech stack, one of the fastest changing areas is around containers, serverless, and choosing the ideal path to cloud native computing. How do you as a technology leader point your team in the right direction, especially given how quickly this is evolving?

7 Ways To Prevent Data Breaches With Technology And Training

Smart Data Collective

Thankfully, there are many ways you can do that by using technology and training. In this article, you will learn about six ways to prevent data breaches by using technology and training. This minimizes the risk of data breaches. Understand How Technology Works.

Why Technology Providers Now “Get IRM”

John Wheeler

This past week, I enjoyed meeting with over 1,000 attendees at our annual Gartner Security and Risk Management Conference in London. At the event, the overwhelming feedback received is that integrated risk management (IRM) is needed now more than ever. Included in that feedback is the fact that technology providers see a rapid increase in IRM customer demand. ” Well, it all stems from an increasing focus on emerging technologies to fuel business growth.

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Djokovic wants line judges replaced by technology

DataFloq

PARIS (Reuters) - Novak Djokovic's relationship with line officials has been difficult of late and the Serbian risked their wrath again on Saturday when he suggested they were unnecessary. Now he believes their job should be done by Hawkeye technology.

Improve financial decision making with technology

Phocas

Financial decision making is a vital management skill because it drives performance and allows a business to take calculated risks and grow. D ecision makers need technology to deliver up-to-date data enabling them to make complex financial decisions at the right time.

How a “PRACtical” Approach to Risk Management Will Aid COVID-19 Recovery Efforts

John Wheeler

As the recovery efforts fully take hold in 2021, a deep understanding of the integrated nature of risks associated with business operations will take center stage. A “PRACtical” Approach Provides a Balanced View of Risk. IRM Technology Improves ERM.

Here’s Why IRM Solutions Are Superior to Archaic GRC Technology

John Wheeler

Gartner clients are consistently searching for ways to improve their risk management programs to deliver greater value to the enterprise. Whether it is to bolster performance in support of new digital transformation efforts or to reduce spend associated with bloated governance, risk and compliance (GRC) bureaucracies, the need for better solutions is real. That’s why Gartner has been promoting integrated risk management (IRM) solutions for the past 4 years.

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Top 10 Gartner Emerging Technologies Client Topics for 2019

John Wheeler

This year, Gartner launched its Emerging Technologies and Trends (ETT) research agenda dedicated to helping our Technology & Service Provider (TSP) clients improve their offerings. As we wrap-up 2019, let’s look at the top 10 Gartner emerging technologies client topics addressed by our analysts. In addition to some of the likely topics such as blockchain and AI, we are also seeing great interest in how TSPs can offer better risk management and security capabilities.

Brazil backs U.S. Clean Network proposal for transparent 5G technology

DataFloq

BRASILIA (Reuters) - Brazil's government on Tuesday backed the United States' Clean Network proposal to build a global digital alliance that excludes technology that Washington sees as manipulated by China's Communist government. Huawei has repeatedly denied being a security risk.

20 for 20: IRM Critical Capabilities & Top 20 Functions / Features

John Wheeler

We continue our “20 for 20” theme this year by highlighting the integrated risk management (IRM) critical capabilities and top 20 software functions / features. Risk & Control Documentation /Assessment. Risk Mitigation Action Planning.

Data Scalability Raises Considerable Risk Management Concerns

Smart Data Collective

The Relationship between Big Data and Risk Management. While the sophisticated Internet of Things can positively impact your business, it also carries a significant risk of data misuse. The application of big data to your organization’s risk management system ensures that you get a comprehensive system that will safeguard your data, revenue streams, and predict changes that may affect the growth of the company (either negatively or positively). Vendor Risk Management (VRM).

Managing mortgage risk in an uncertain world

Cloudera

For all the advances in big data, machine learning and computational simulation in the decade since the global financial crisis, incumbent banks, still preoccupied with the twin imperatives of ever-tougher regulatory compliance and boosting shareholder returns, are playing catch-up in their adoption of new technologies. Banks talk up the benefits of using AI, but their corporate culture and organisational structure hamper their ability to adopt latest technologies.

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Musk says Tesla to use new batteries, tech at Berlin factory; flags production risk

DataFloq

(Reuters) - Tesla Inc Chief Executive Elon Musk said on Wednesday the company will produce Model Y with a new structural battery design and technology at its Berlin factory next year and that could result in a "significant production risk".

Risk 180

Connected And Autonomous Vehicles: A Privilege Or A Cyber-Risk?

DataFloq

One thing we continue to hear again and again in regards to coming technological advancements relates to the benefits of connected and autonomous vehicles and how they will drastically improve our way of life. No matter what your thoughts or opinions concerning connected and autonomous vehicles, 2020 will see their continued rise and the imminent deployment of them is likely in the foreseeable future.

Risk 201

Britain says Huawei security failings pose long-term risk: govt report

DataFloq

LONDON (Reuters) - China's Huawei Technologies has failed to convince British security officials that the security risks of using its products in UK national infrastructure can be adequately managed, according to a government report released on Thursday. By Jack Stubbs.

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How To Manage The Risks Within Enterprise Analytics

DataFloq

Business users now have greater than ever access to data & analytics technologies so that they can obtain current insights on their KPIs. Today, organisations are becoming increasingly data-driven. The opportunity for businesses is to simultaneously provide support for self-service analytics, whilst ensuring security and integrity. Self-service analytics will encourage the promotion of a data-driven culture resulting in transparent processes & business decisions backed by numbers.

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Technology Driven Insurance Data Analytics

DataFloq

The nature of the Insurance industry being data-centric, insurers abide by the policy of keeping data as a treasure for their respective growth.

The History, Rewards and Risks of the Proliferation of Biometric Authentication Technology

DataFloq

In this article, we will take a look at the increasing use of biometrics in the private sector and explore some of the salient features of this technology from the perspectives of use and security/privacy. . However, for a time, the retail/consumer aspect of biometric authentication technology remained quite limited, both in use, and in capability, until the second quarter of this decade.

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Analysis: Stepped up Chinese scrutiny increases investment risk of 'Beast' Ant

DataFloq

Their moves came after regulators scrutinised banks that used Ant's technology platform excessively for underwriting consumer loans at a time when concerns about defaults and lenders' asset quality grew in a pandemic-hit economy, said the people. By Cheng Leng and Julie Zhu.

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IRM Is Essential for Digital Transformation Success

John Wheeler

Last week, I had the distinct privilege to join my Gartner colleagues from our Risk Management Leadership Council in presenting the Q4 2018 Emerging Risk Report. We hosted more than 500 risk leaders across the globe in our exploration of the most critical risks. The Q4 2018 Emerging Risks Survey, designed by Gartner, captures and analyzes senior executives’ opinions on emerging risks and provides actionable insight on identifying and mitigating these risks.

Using Technology to Better Manage Risk in Insurance

Decision Management Solutions

In February, we published a blog post on “Using Technology to Add Value in Insurance”. In that post, I referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question? , in which he states there are only three levers of value in insurance: Sell More, Manage Risk Better (aka underwriting and adjusting), and Cost Less to Operate. Let’s dive into greater detail on the second lever – Manage Risk Better.

5 Powerful Networking Technologies That Are Disrupted By AI

Smart Data Collective

Savvy technology evangelists recognize the importance of AI in the 21 st Century, especially as Internet technology continues to evolve. While networking technology has been around for decades, it is changing faster than ever due to a growing emphasis on AI technology.

Are You Ready for Some IRM? Gartner’s 2018 Security & Risk Summit Events Span the Globe

John Wheeler

A central theme for this year’s summit is how integrated risk management (IRM) can improve overall resilience to withstand a major cyber attack. “Cybersecurity Redefined in the Digital Era” describes how an IRM strategy must incorporate system assurance, business continuity and safety management inputs to develop a multi-domain approach for cyber and physical security (see figure below). 1) State of Risk Management, 2018 . It’s that time of year again!

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AI Advances Minimize Risk of Site Accessibility Lawsuits in eCommerce

Smart Data Collective

Now, a new benefit of AI is joining the list: avoiding the risk of website accessibility lawsuits. The United States federal government has published updated regulations on accessibility requirements in Information and Communication Technologies (ICT) contained in two federal laws. The post AI Advances Minimize Risk of Site Accessibility Lawsuits in eCommerce appeared first on SmartData Collective. AI has become an important factor in the ecommerce industry.

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Interview with Pragasen Pather, GM: IT Governance, Risk & Security, Sun International

Corinium

My recipe to create an integrated ecosystem is to merge technology (operational and infrastructure) with business value(process) and culture(people). How are you creating a better-integrated security ecosystem in your organisation? The internal ecosystem must be complimented with external partnerships and we need to start working together to redefine our end goal and purpose as a security professional.

Risk 150

4 Reasons Why GRC Is a Useless Term

John Wheeler

It has been 5 years since Gartner embarked on the journey to enhance our coverage of the risk management technology marketplace. That journey included in-depth survey research and countless interactions with our end-user clients to understand their need to better manage strategic, operational and IT/cybersecurity risks. These end-user needs and resulting demand led to the definition of a new technology marketplace – integrated risk management (IRM).

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Becoming a machine learning company means investing in foundational technologies

O'Reilly on Data

In speaking with many companies that have built data platforms and infrastructure for machine learning, a few important factors arise that have to be taken into account as you design your toolchain: Support for different modeling approaches and tools: while deep learning has become more important, the reality is that even the leading technology companies use a variety of modeling approaches including SVM , XGboost, and statistical learning methods. Managing risk in machine learning”.

7 Advantages of Using Encryption Technology for Data Protection

Smart Data Collective

However, encryption technology for data protection is widely available. Here are seven reasons to depend on encryption technology: 1. One of the top advantages of modern encryption technology is that you can apply it to all or most of the tech devices you use. Depending on your given industry or the specific policies set forth by your employer, encryption technology for data protection may become mandatory rather than optional.

PODCAST: Making AI Real – Episode 2: AI enabled Risk Management for FS powered by BRIDGEi2i Watchtower

bridgei2i

Episode 2: AI enabled Risk Management for FS powered by BRIDGEi2i Watchtower. AI enabled Risk Management for FS powered by BRIDGEi2i Watchtower. It helps companies identify opportunities for proactive risk intervention. We talk about marketing risks, onboarding and investment.

4 Ways Big Data Has Made Bluetooth A Terrifying Security Risk

Smart Data Collective

Big data has created both positive and negative impacts on digital technology. On the one hand, big data technology has made it easier for companies to serve their customers. On the other hand, big data has created a number of security risks that they need to be aware of, especially with brands leveraging Hadoop technology. Big data has created a number of security risks for Bluetooth users. Bluetooth Security Risks in the Age of Big Data.

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20 for 20: Top 20 IRM Research Publications

John Wheeler

This month, we continue our “20 for 20” theme by highlighting the top 20 “most read” research publications in our integrated risk management (IRM) compendium. Magic Quadrant for Integrated Risk Management, 2018. Hype Cycle for Risk Management, 2019.

Managing Emerging Technology Disruption with Enterprise Architecture

erwin

Emerging technology has always played an important role in business transformation. In the race to collect and analyze data, provide superior customer experiences, and manage resources, new technologies always interest IT and business leaders. KPMG’s The Changing Landscape of Disruptive Technologies found that today’s businesses are showing the most interest in emerging technology like the Internet of Things (IoT) , artificial intelligence (AI) and robotics.

Will Digital Healthcare Technology Disrupt Independent Physicians

Perficient Data & Analytics

However, is change in the healthcare industry putting independent physicians at risk? With the increased usage of digital healthcare technology, will the independent physician still be able to maintain the walk-in base of customers? This blog will explore a few trends implying that digital healthcare technology could be the future of care. Medical Technology High Cost. Digital healthcare technology is here to stay. Why fear change?

How Big Data Analytics Improves Reputation Risk Management In Banking Sector

DataFloq

In the banking industry, trust is the largest bankable asset for any institution and its risk profiling happens to be the most volatile, complex, and regressional one among the non-systematic risks. I will also share hypothetical scenarios for the audience and the potential of this advanced technology in harnessing the best practices.

IRM 2020: Market Momentum Continues

John Wheeler

2020 marks Gartner’s fifth year of integrated risk management (IRM) technology coverage and the market continues to grow at a rapid pace. In fact, the spectrum of IRM technology solutions is increasing due to digital transformation efforts in companies of all sizes. As a result, IRM technology and services market forecast for 2020 is $7.3 These new digital products and services create a host of new risks that require IRM technology.

How Technology Has Revamped Real Estate

DataFloq

We could go on and on about how the technology in the world around has consistently evolved at a rapid pace. We’ll save that clichéd sermon for the progress of the technology around us has been for everyone to see. What’s more noteworthy is how this rapid advancement of technology has affected our lives. But that was just the beginning of an entirely new age in the real estate industry; today, many new technologies and advanced solutions have come to play a crucial.

COVID-19 Effects on Financial Services & Managing Risk

bridgei2i

Thankfully, today technological advances have allowed banks to carry out most of the transactions electronically, with the help of remote working in a safe, secure, and unhindered manner. The banking sector globally is definitely going to see impact, some more grave than the others and most of them are announcing short to mid term measure both from a customer and business risk mitigation standpoint. Understanding & Managing Risks.

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FP&A Digital Transformation: Balancing Risk & Outcomes

Jedox

When embracing better-practice, balancing risk to return can be complex and choosing a path that delivers high business value, with minimum disruption is not always easy. The risk was that the project would experience ‘death by committee’ trying to please everyone (some team members even though they needed a new ERP – another 5 years of headache). This approach meant they avoided the risk of waiting 6-12 months to get any result. It was low-risk and required minimal training.

How Insurance Companies Use Data To Measure Risk And Choose Rates

Smart Data Collective

With the technology available today, there’s even more data to draw from. Here is the type of data insurance companies use to measure a client’s potential risk and determine rates. Traditional data, like demographics, continues to be a factor in risk assessment. Teens and young adults are less experienced drivers and, therefore, at risk for more car accidents. Insurance companies place certain professions in a lower risk category or offer discounts to others.