Excellence in Risk Management XIV: Ready or Not, Disruption is Here
The accelerated pace and scope of technology is an integral part of our global prosperity, but with it come change and uncertainty. Front and center is “disruptive technology.” These are technologies that either purposefully displace existing products or that introduce groundbreaking ways of doing business, creating a new industry or turning an established one on its head.
Senior leaders at organizations increasingly rely on the insights of risk management professionals, who must be able to confront disruptive technology risks and assess the potential opportunities. For the 2017 Excellence in Risk Management report, in partnership with the Risk & Insurance Management Society (RIMS), we conducted focus groups with risk executives in a variety of industries and surveyed another 700 risk professionals and C-suite executives to understand how the risks of disruptive technologies are being addressed.
We believe risk management professionals should be leading the way as companies adapt to technology innovation, with the understanding that those who fail to do so will be relegated to a support role. The good news is that both the desire and ability to play a leading role are there.
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