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Risk Management in the Digital Age

Technology is changing rapidly. Here’s how to address impending risks.

By Randy Sadler | March 23, 2022 at 08:26 PM

Stock image: Protecting technology from a storm

The business landscape has drastically changed in the past two years, as the pandemic fast-tracked technological advances. According to a McKinsey Global Survey, companies have accelerated the share of digital or digitally enabled products in their portfolios by a whopping seven years since Covid-19 became a global phenomenon. They are leveraging emerging technologies in areas such as cloud computing, cybersecurity, artificial intelligence (AI), telehealth, tools supporting decentralized or remote workforces, and robotics.

So far in 2022, the digital economy has only continued to grow. IDC projects that, by the end of this year, 65 percent of global GDP will be digitalized, with nearly $7 trillion in investments injected into the IT sector through 2023.

 

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