Adoption of emerging technologies and innovation bring opportunity but also potential risks to an organization. In an age of continuous and rapid change, risk management executives can play a critical role in technology adoption and to engage in conversations about emerging risks and solutions.
To effectively take leadership roles in addressing the risks and solutions associated with technology adoption, risk management professionals need to consider a number of issues in determining if they are enabling innovation. In their roles are they:
- Embedding risk management in business planning and/or technology strategy discussions,
- Driving a long-term view of shifts in related risks,
- Building risk solutions into product or service offerings,
- Developing revenue-generating risk solutions,
- Leading investment in emerging risk technologies or applications,
- Freeing up capital/cash for research and development,
- Broadening the enterprise risk management focus,
- Flagging unmet customer needs as potential opportunities?
This year’s Excellence in Risk Management survey from Guy Carpenter sister company, Marsh, and RIMS explains ways that risk management executives can lead in technology adoption.
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