Before we dive in further, should we first prepare for new and emerging risks associated with the digital era?
The disruptions of the last two and a half years has prompted many organisations from a wide range of industry sectors to invest in digitisation.
Driven by the practicalities of contending with country lockdowns, supply chain logjams and competitive pressures among other things, there has been a notable acceleration in our digital journeys.
But before we dive in further, should we first prepare for new and emerging risks, especially those with systemic potential?
While there are many benefits to the digital era, it is not all upside.
As with all emerging technology and connected systems, there are inevitably new and emerging risks to consider, however remote. As this year’s WEF Global Risks Report warns:
“In the context of widespread dependency on increasingly complex digital systems, growing cyber threats are outpacing societies’ ability to effectively prevent and manage them.”
The technologies associated with the fourth industrial revolution offer massive opportunities, but there are also hurdles to overcome before this ‘freedom of innovation’ can be realised.
This is according to a panel of experts speaking during a StrategicRISK webinar on Industry 4.0 on 22 June. You can catch up with the discussion on YouTube and read the highlights in our special report.