Brief explanation: What are extended risks and why risk managers should consider them | Analysis

Dr. Birgl Cotelli, Chairman of the Group of Compliance Officers (GCO) at Romandes du Tessin Switzerland and Member of the Swiss Senate of the World Business Angel Investment Forum (WBAF), will be visiting Switzerland on May 30-31. I will be speaking at the Risk-!n conference to be held at .

Ahead of her session, StrategicRISK caught up with her to find out what she will discuss and why risk managers should attend.

What are extended risks and why should risk managers consider them?

Dr. Birgul Cotelli: Risk decisions in business have both positive and negative impacts. Isn't this always the case in our daily life?

In business, it starts with making the right technology shift. Is your organization ready, do you have the right skills in place, do you have the right foundation and infrastructure to embrace the technology?

Second, the pace of innovation adoption matters. Acting too quickly can sometimes have unintended consequences.

We are striving to achieve better results by increasing operational efficiency and reducing costs, but are we really achieving results? Are we maintaining our current profits, profits and assets? We need to ask these questions and find the optimal balance when implementing relevant technologies.

The impact of risky decisions can have positive or negative consequences. If the latter exceeds the former, we are talking about increased risk.

Your session will be about risks that risk professionals may miss due to the innovation hype surrounding new technologies. Can you give some examples of these threats?

Dr. Birgul Cotelli: Operational glitches and data security concerns are examples.

As mentioned earlier, the appropriate pace of technology adoption is neither too fast nor too slow. Investing in the right technology, in the right amount, at the right time, and at the right pace is critical.

Another example is quantum computing. This is a great example of a technology with great potential, but with new security risks that overwhelm current encryption protocols.

Risk managers must assess the risks associated with various technologies, including cloud, AI, blockchain, IoT for interoperability, and other emerging technologies.

Risk Manager can help you [the companies they work for] By advocating for the right balance. Risk managers also need to improve their technology skills and become more aware of technology risks and address them early enough in the business.

I'm going to be sharing tools and techniques to see through this hype, but could you give me one such technique and an example of how to use it?

Some of the main risks to consider are:

Privacy and protection of consumer data in the cloud is one of the most obvious examples. Generative AI is another, creating the risk of deepfakes. Cyber ​​attack. Despite the ethical and legal concerns, we can continue.

Tools and techniques:

Take GenAI, for example. Interaction between humans and technology plays a key role in sourcing, feeding, learning, unlearning, relearning, and creating information (this is GenAI and how it works) .

We then need to build skills to address these human technology problems and create new forms of education across disciplines.

Policymakers should establish guidance on safety principles for AI procurement, legislate AI safety across sectors, and encourage responsible technology development and deployment practices.

Why should people come to Risk-!n conferences and your sessions?

This is a great community of experts and experts who gather around sensitive risk management topics, the art of safely avoiding undesirable and unpredictable business outcomes.

Many industries are covered by Risk-!n based on these aspects. This is exactly the place.

To learn more about the conference or to register, please visit the Risk-!n website.

Dr. Birgul Cotelli is an expert in the field of risk and compliance and a seasoned professional in the field of technology and innovation.

As an experienced independent consultant in the financial services sector, she advises companies and NGOs to build a balanced mix of innovative solutions and deliver on their commitments to stakeholders.

She is an international speaker on topics including science, technology, innovation, AI-driven risk, and compliance at international professional events.

She began her career as a Director of Risk and Compliance in first and second line of defense departments at a global bank, then became an advisor.

Sources 1/ https://Google.com/ 2/ https://www.strategic-risk-global.com/cyber-/-technology-risks/quick-briefing-what-are-augmented-risks-and-why-should-risk-managers-care-about-them/1451532.article The mention sources can contact us to remove/changing this article

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