PARIMA chairman, Franck Baron told around 250 delegates it is ’happening to all of us and we need to learn to manage it’

The fourth industrial revolution is bringing significant challenges and risks to the Asia Pacific region and is “one to watch” as an opportunity for risk managers, PARIMA chairman, Franck Baron told around 250 delegates at the Bangkok conference today.

Baron said the issues of note to risk managers in the region include the development of so-called ’smart cities’, the reorganisation of the way businesses allow flexibility of working conditions, the rise of articficial intelligence, the increasing power of tech giants such as Amazon and Google and how their power should be managed and the challenge of innovation versus regulation

On artificial intelligence debate, Baron said “there are spectacular divisions about how to manage artificial intelligence” which need to be monitored closely.

“It is happening to all of us and we have to learn to manage it,” said Baron.

Baron also weighed into the Cambridge Analytica/Facebook debate by noting our personal data is the most important new data for businesses for use but it is becoming more difficult for businesses to manage effectively and regulated properly.  

“All data attached to us is our property. A lot of companies around the world are using this information and it needs to be managed properly.”