Info-Tech Research Group's recently published resource
emphasizes the necessity for organizations to adopt an integrated
and proactive risk management approach to address the challenges
posed by rapidly advancing technologies like generative AI. The
global research and advisory firm explains in the new blueprint
that by leveraging Exponential IT frameworks, IT leaders can
transform their risk capabilities, enhance value creation, and
ensure organizational resilience. The research-backed guide also
outlines critical steps for defining vision, identifying
initiatives, and developing a roadmap to effectively manage both
current and unforeseen technology-related risks.
TORONTO, Aug. 7, 2024
/CNW/ - As technology continues to exponentially advance,
organizations are encountering unprecedented challenges in managing
risks, especially with the emergence of technologies like
generative AI. However, in this emerging era, traditionally siloed
risk management approaches are proving to be insufficient in
handling dynamic and unforeseeable risks. In response, Info-Tech
Research Group has published its latest research insights and
advisory for IT leaders, titled Establish a Roadmap
for Integrated and Dynamic Risk Management. This
step-by-step blueprint is designed to assist IT leaders and their
organizations in developing a dynamic, interconnected, and
proactive approach to risk management.
"Traditional risk management systems and capabilities, which
rely on siloed, manual risk processes and uncoordinated
responses with insufficiently defined risk accountability and risk
data, are not good enough to take on emerging technology
risks," says Anubhav Sharma,
research director at Info-Tech Research Group. "Since risk from
emerging technologies will be nonlinear and harder to predict, risk
management will need to be adaptable and nimble enough to address
the unknown."
According to Info-Tech's research insights, current risk talent
management often lacks the technological expertise needed to
comprehend emergent technology risks. This gap primarily arises
from the fragmented and insufficient quality of risk data within
organizations. As speed becomes a critical factor for success in
today's landscape, there is an urgent demand for the rapid
enhancement of risk capabilities. The firm advises that this swift
upgrade is essential to empower IT leaders within organizations to
promptly address both identified and unforeseen risks to ensure
proactive risk mitigation and resilience in the face of evolving
technological challenges.
"IT leaders, along with their enterprise risk counterparts,
must make the shift to a dynamic, interconnected, and proactive
approach to risk management," explains Sharma. "This
shift includes integrating IT risk with enterprise risk practices
and elevating risk management's status to that of a strategic
enabler to help the organization stay competitive and resilient in
the face of new risks."
The firm further suggests in the blueprint that organizations
should adopt the Exponential IT framework, which includes
modern technologies to guide IT leaders across all domains in
transforming their organization and enhancing their value-creation
capabilities. This framework bridges the gap between the
exponential progression of technological change and the linear
advancement of IT's ability to effectively manage such changes.
In its latest resource, Info-Tech highlights three crucial steps
for IT leaders to effectively address emerging technology-related
risks for their organizations:
- Define Vision: Gain a deep understanding of the
organizational risk context and desired outcomes to establish
success criteria. This step involves conducting comprehensive risk
assessments across all departments, collaborating with stakeholders
to align risk management goals with business objectives, and
leveraging data analytics to identify potential risk factors
proactively.
- Identify Initiatives: Assess the current and
desired states of risk capabilities, explore recommendations, and
develop actionable initiatives. This effort includes implementing
training programs to enhance employees' risk awareness,
establishing clear communication channels for reporting risks in
real time, and integrating risk management tools to streamline risk
assessment processes effectively.
- Develop a Roadmap: Create a roadmap outlining
initiatives that enhance the risk management system. By
continuously refining the risk management roadmap, organizations
can stay agile and responsive to emerging threats while maximizing
opportunities for growth and innovation.
As organizations navigate an increasingly complex technological
landscape, Info-Tech's blueprint for integrated and dynamic risk
management provides a crucial guide for upgrading risk
capabilities. By leveraging advanced strategies and cutting-edge
technologies, businesses can address current risks and anticipate
future threats. This proactive approach ensures that IT leaders are
well equipped to foster resilience and drive sustainable growth in
an ever-evolving market.
Info-Tech LIVE 2024
Registration is now open for Info-Tech Research Group's annual
IT conference, Info-Tech LIVE 2024, taking place September 17 to 19, 2024, at the iconic Bellagio
in Las Vegas. This premier event
offers journalists, podcasters, and media influencers access to
exclusive content, the latest IT research and trends, and the
opportunity to interview industry experts, analysts, and speakers.
To apply for media passes to attend the event or gain access to
research and expert insights on trending topics, please contact
pr@infotech.com.
About Info-Tech Research Group
Info-Tech Research Group is one of the world's leading
research and advisory firms, proudly serving over 30,000 IT and HR
professionals. The company produces unbiased, highly relevant
research and provides advisory services to help leaders make
strategic, timely, and well-informed decisions. For nearly 30
years, Info-Tech has partnered closely with teams to provide them
with everything they need, from actionable tools to analyst
guidance, ensuring they deliver measurable results for their
organizations.
To learn more about Info-Tech's divisions, visit McLean
& Company for HR research and advisory
services and SoftwareReviews for software buying
insights.
Media professionals can register for unrestricted access to
research across IT, HR, and software and hundreds of industry
analysts through the firm's Media Insiders program. To gain access,
contact pr@infotech.com.
For information about Info-Tech Research Group or to access the
latest research, visit infotech.com and connect via
LinkedIn and X.
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SOURCE Info-Tech Research Group