9/2/2023 0 Comments Risk roadblock synonymOver 88% of respondents in a recent 451 Research survey assessing the state of enterprise digital transformation across the globe indicated that a C-level executive was responsible for the digital transformation program within their organization. Making matters worse many organizations are historically risk averse or are ill-prepared to handle these new or increased levels of risk, in some cases resulting in the slow death of many digital transformation projects. As businesses implement new technologies such as big data, block-chain, artificial intelligence, and IoT they are experiencing more complex and higher risk in regards to cybersecurity and the potential for breaches of data privacy. These modernization efforts often involve unpredictable and unknown risks including concerns with non-compliance, fraud, revenue leakage, lack of governance, disaster recovery, service disruptions, and data loss. While business leaders vary in their view and execution of digital transformation strategies the risk of doing nothing most often outweighs the risk of any internal disruption that can accompany transformation activities.ĭigital transformation promises to modernize every aspect of today’s businesses, however, it comes with challenges, especially in the area of risk. Digital Transformation – the process where companies overhaul their business models, processes, and functionalities to leverage the capabilities and advancements of emerging technologies to digitally reinvent their organizations – is vital to the survival of the modern business.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |