Digital transformation: How you can take advantage of innovation
Wincanton CIO Richard Gifford explains how to use emerging technology and considers the evolution of the CIO role.
Apprise decision makers of risks from digital initiatives
Risk management leaders who don’t understand the risks from new technologies and data will struggle in overseeing digital transformations, the report said. Risk and internal audit professionals can educate business leaders on the risks of digital technologies and data.
There’s still work to be done in this area, the report said. For example, few risk executives said they think boards are receiving adequate reporting on metrics for cyber and privacy risk management.
Also: How smart cities are quietly changing the world CNET
Build one view of risks
By working from one source of data on a common technology platform, risk functions can provide their organizations with one view of risk, which is what CEOs and stakeholders want for more-informed and agile decision making.
Many digital transformations fail, the report said. As business leaders try to understand why, the experience of risk and internal audit professionals during broad IT implementations and cultural change will be helpful to those leaders.
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