How industry leaders can align to better manage it
Some risks are so all-encompassing they go unnoticed. Hiding in plain sight, their sheer scale, paradoxically, can obscure their sheer scale. Instead, we get glimpses here and there but rarely connect the dots across the enterprise.
This is a central problem of technology risk, a term describing the many vulnerabilities associated with an organization’s information technology (IT), operational technology (OT) and communications technology (CT). Because technology touches everything a company does, all its assets (physical, digital, intellectual), its people, processes and systems, its vendors and suppliers, its reputation — even its very existence — the scope and layers of risk associated with technology’s use can be difficult to comprehend, much less mitigate.
Compounding the challenge is a company’s organizational structure, which can hinder an enterprise-wide view of risk. Different functional areas — IT, enterprise data management, cybersecurity, compliance, R&D, commercial, third-party risk management, supply chain, internal audit, etc. — have their own priorities, incentives, tools and…
