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One of the world’s largest risk advisors and insurance brokers launched a digital transformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age. Simultaneously, major decisions were made to unify the company’s data and analytics platform.
Call it survival instincts: Risks that can disrupt an organization from staying true to its mission and accomplishing its goals must constantly be surfaced, assessed, and either mitigated or managed. While security risks are daunting, therapists remind us to avoid overly stressing out in areas outside our control.
One of the world’s largest risk advisors and insurance brokers launched a digital transformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age. Simultaneously, major decisions were made to unify the company’s data and analytics platform.
Instead of installing software on your own servers, SaaS companies enable you to rent software that’s hosted, this is typically the case for a monthly or yearly subscription fee. Everywhere you turn these days, “the cloud” is being talked about. Yes, this ambiguous term seems to encompass almost everything about us.
CIOs perennially deal with technical debts risks, costs, and complexities. While the impacts of legacy systems can be quantified, technical debt is also often embedded in subtler ways across the IT ecosystem, making it hard to account for the full list of issues and risks.
This article answers these questions, based on our combined experience as both a lawyer and a data scientist responding to cybersecurity incidents, crafting legal frameworks to manage the risks of AI, and building sophisticated interpretable models to mitigate risk. What is an incident when it comes to an AI system? Quite the contrary.
With cybersecurity now fundamental to business operations, it must be considered alongside financial, operational, and reputational risk planning to ensure continuity in the face of disruptions. The survey results underscore the pressing need for organizations to rethink their approach and shift towards resilience by design.
As IT landscapes and software delivery processes evolve, the risk of inadvertently creating new vulnerabilities increases. These risks are particularly critical for financial services institutions, which are now under greater scrutiny with the Digital Operational Resilience Act ( DORA ).
There are risks around hallucinations and bias, says Arnab Chakraborty, chief responsible AI officer at Accenture. The next evolution of AI has arrived, and its agentic. AI agents are powered by the same AI systems as chatbots, but can take independent action, collaborate to achieve bigger objectives, and take over entire business workflows.
By 2027, 70% of healthcare providers will include emotional-AI-related terms and conditions in technology contracts or risk billions in financial harm. New security and risk solutions will be necessary as AI agents significantly increase the already invisible attack surface at enterprises. AI is evolving as human use of AI evolves.
Developing and deploying successful AI can be an expensive process with a high risk of failure. Six tips for deploying Gen AI with less risk and cost-effectively The ability to retrain generative AI for specific tasks is key to making it practical for business applications. The possibilities are endless, but so are the pitfalls.
2023: Greater flexibility, challenging decisions In 2023, the cloud services space — including hosting and managed and migration services — continued to experience impressive growth, eclipsing $564B in total spend. Here is a closer look at recent and forecasted developments in the cloud market that CIOs should be aware of.
But adding these new capabilities to your tech stack comes with a host of security risks. For executives and decision-makers, understanding these risks is crucial to safeguarding your business. How should businesses mitigate the risks? Government and regulatory bodies also have a role to play in managing these risks.
Private cloud providers may be among the key beneficiaries of today’s generative AI gold rush as, once seemingly passé in favor of public cloud, CIOs are giving private clouds — either on-premises or hosted by a partner — a second look. The Milford, Conn.-based We’re keeping that tight control and keeping it in the private cloud.”
Kevin Grayling, CIO, Florida Crystals Florida Crystals It’s ASR that had the more modern SAP installation, S/4HANA 1709, running in a virtual private cloud hosted by Virtustream, while its parent languished on SAP Business Suite. One of those requirements was to move out of its hosting provider data center and into a hyperscaler’s cloud.
The risk of going out of business is just one of many disaster scenarios that early adopters have to grapple with. And it’s not just start-ups that can expose an enterprise to AI-related third-party risk. Entire businesses have been built on top of OpenAI and its APIs. Beyond that, most vendors are still falling short.
In a recent post , we outlined the pitfalls of self-hosted authoritative Domain Name System (DNS) from the perspective of a start-up or midsize company piecing together a DIY system using BIND DNS or other open source tools. Theory vs. reality These are all valid reasons to self-host your DNS at scale—at least in theory.
Without data that is accurate, comprehensive, and adaptable to every customers intent, businesses risk being left behind. Perhaps most concerning is the increased compliance risk that stems from inconsistent product information. However, successful AI implementation requires more than cutting-edge technology.
Hosting Your Own Website and Network Businesses that want to enjoy full control over their IT infrastructure opt for setting up everything in-house. Hosting Your Own Website and Network Businesses that want to enjoy full control over their IT infrastructure opt for setting up everything in-house. But it’s not just about security.
If sustainability-related data projects fail to demonstrate a clear financial impact, they risk being deprioritized in favor of more immediate business concerns. Without robust data infrastructure, sustainability reporting can become fragmented, leading to inefficiencies and compliance risks.
Mitigating infrastructure challenges Organizations that rely on legacy systems face a host of potential stumbling blocks when they attempt to integrate their on-premises infrastructure with cloud solutions. Their collaboration enables real-time delivery of insights for risk management, fraud detection, and customer personalization.
Ask IT leaders about their challenges with shadow IT, and most will cite the kinds of security, operational, and integration risks that give shadow IT its bad rep. That’s not to downplay the inherent risks of shadow IT. Following are seven steps to guide this transformation for competitive advantage.
Put simply, DG is about maximizing the potential of an organization’s data and minimizing the risk. In today’s data-driven climate , this dynamic is more important than ever. So DG is quite simply, about how an organization uses its data. That includes how it creates or collects data, as well as how its data is stored and accessed.
In conversation with reporter Cade Metz, who broke the story, on the New York Times podcast The Daily , host Michael Barbaro called copyright violation “ AI’s Original Sin.” The Times also quoted Meta officials as saying that their models will not be able to keep up unless they follow OpenAI and Google’s lead.
These CIOs have the vision, steadiness, and laser-sharp focus to navigate both the promise and the risks of disruptive technologies, positioning their teams and their organizations to gain and sustain an edge. That means pushing back against a lot of pressure, sometimes against the board or the executives.
But in this digital age, dynamic modern IT reports created with a state-of-the-art online reporting tool are here to help you provide viable answers to a host of burning departmental questions. The purpose is not to track every statistic possible, as you risk being drowned in data and losing focus. Let’s get started.
Oracle Cloud Infrastructure is now capable of hosting a full range of traditional and modern IT workloads, and for many enterprise customers, Oracle is a proven vendor,” says David Wright, vice president of research for cloud infrastructure strategies at research firm Gartner.
Addressing semiconductor supply chain risks Even before the most recent supply chain challenges, political leaders around the world have been taking a close look at the current semiconductor supply chain model. Some of that risk is being addressed at national and regional levels, such as the U.S. CHIPS Act and the EU Chips Act.
1] This includes C-suite executives, front-line data scientists, and risk, legal, and compliance personnel. These recommendations are based on our experience, both as a data scientist and as a lawyer, focused on managing the risks of deploying ML. Not least is the broadening realization that ML models can fail. Sensitivity analysis.
Certinia’s new features should also allow for “de-risking” of new projects, by identifying potential pitfalls in a given deal, accurately rating the resources available to handle it, and helping services companies make smarter adjustments to those estimates. They’ve done a good job utilizing the Salesforce capabilities,” Hurrell said.
IT leader and former CIO Stanley Mwangi Chege has heard executives complain for years about cloud deployments, citing rapidly escalating costs and data privacy challenges as top reasons for their frustrations. They, too, were motivated by data privacy issues, cost considerations, compliance concerns, and latency issues.
Responsible AI: Balancing innovation and risk The rise of generative AI has put a mirror in front of companies, showing them the work they have to do to strategically leverage their data. Theres a checklist on what you should be asking them, so theres the risk education as well, she says.
These very public failures caused brand trust erosion, regulatory oversight and penalties, customer privacy violations, and a host of other financial and societal implications. Adding to this complexity, the way generative AI works introduces a double layer of exposure risk, further stacking the odds against the user.
Even if Apple—the privacy leader— did not discriminate on gender, it experienced one of its worst product launches in recent history. Apple’s customer base and bankable style combined with Goldman’s knowledge of the financial industry must have seemed like an unbeatable combination. Ultimately, Apple learned a critical lesson from this experience.
When technology professionals fall in love with any particular technology, or way of doing things, they make themselves and their skills vulnerable to the risk of obsolescence. Software development and a host of other jobs will become vulnerable due to the latest tectonic shift: the growth of generative AI.”
Risky Business Risky Business is a weekly cybersecurity news and current events podcast hosted by Patrick Gray and Adam Boileau. Host Maryfran Johnson is excellent at drawing out those lessons from her guests. One of the best ways for CIOs and IT leaders to absorb information is by tuning in to tech and leadership podcasts.
Without a clear cloud strategy and broad leadership support, even value-adding cloud investments may be at risk. There are other risks, too. Cloud costs will often — and rapidly — become large line items on budgets. And the costs recur monthly or quarterly,” Upchurch says. Why are we really going to cloud?
Words matter What we call ourselves and how we think of ourselves matters, says Dan Roberts, an industry thought leader and host of the Tech Whisperers podcast, adding that he renamed the podcast in 2022 from CIO Whisperers. Power does not have a traditional IT department, so officials have opted not to use the term CIO, he says.
They’d say that the job involves writing some software, sure. But deep down it’s about the purpose of software. Figuring out what kinds of problems are amenable to automation through code. Knowing what to build, and sometimes what not to build because it won’t provide value. This mindset has followed me into my work in ML/AI.
MBA programs can also help leaders hone their communication and negotiation skills while also improving their understanding of organizational behavior, strategic planning, and risk management through exposure to experienced peers and varied coursework,” Bhargava explains. Does it make sense for an IT leader to seek an MBA?
An extremely good principle and starting point would be to honestly quantify the cybersecurity risk in your organization. To help administrators secure hosts consistently and efficiently, organizations should consider combining data security automation solutions with OS and application setup checklists.
For CIOs, the event serves as a stark reminder of the inherent risks associated with over-reliance on a single vendor, particularly in the cloud. The company’s internal communication was significantly disrupted as its entire network, including Outlook, Teams, and SharePoint, is hosted on Microsoft 365.
Cloud backup, also known as cloud computing, refers to the temporary storing of data on a remote cloud-hosted server. Reduce the Risk of Damage: The benefits of cloud storage are valuable for any company that stores crucial customer data or other sensitive corporate information.
IT retention in healthcare has long been full of aches and pains because of the deep skillset required, but David Reis has been lucky. The flag of the US Marine Corps, where he served for eight years, hangs on a wall. It was in the corps that Reis learned about esprit de corps, the Latin phrase for pride of belonging to a particular group.
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