A View into the Challenge of Digital Risk

Sep 05, 2019 | by Steve Schlarman

Digital. This word conjures up many different reactions. Some may think of futuristic worlds powered by some omniscient matrix. Others may react with a shrug and turn back towards their smartphone. Regardless, the digital revolution has upended much of our normal daily life. Companies and individuals alike reap the benefits of our rapidly changing digital world. Whether it is the optimization of a traditional supply chain or the emergence of a “born in the cloud” service that simplifies daily tasks, the ripple effects of digital transformation have changed how the world works.

RSA® explores the shift in risk related to our digital world – leveraging our experience as a leader in security and risk management for the past 35 years. In addition to a recent series of webinars, we conducted a research study (coming soon) to identify current trends and perceptions on digital risk.  What we found is business leaders understand the undercurrent of uncertainty that must be managed as digital transformation sweeps across their organization.

  • Digital initiatives are prevalent across organizations of all sizes and industries, and leaders acknowledge their digital efforts present a unique set of risks that are simultaneously connected to and distinct from the physical world.
  • Digital risk comes in many forms, and risk management priorities are most often driven by an organization’s digital strategies. Cyber attacks, workforce dynamics, data privacy and process automation are top-of-mind issues affecting risk management priorities.
  • Organizations are in the midst of digital transformation efforts, but in general, their risk management practices aren’t keeping pace with the rate of change and complexity that digital transformation brings.

Ultimately, the risks related to digital business bubble to the top.   Cybersecurity, as a lynchpin of managing digital business, is a perfect example of the challenge of translating technical threats into business risk. The nuances of industry, organizational dynamics and competitive landscape further complicate establishing an open, informed dialogue about digital risk.

I invite you to attend a webinar on September 12, 2019 to explore the 2019 RSA Digital Risk Study with commentary from industry experts. Study findings and best practices for approaching digital risk will be discussed.

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To learn about the perceptions and attitudes towards risk and the digital world, join us for the RSA® Digital Risk Report webinar.

Join the #TalkingDigitalRisk conversation on Twitter and social media by following @RSAsecurity

Author: Steve Schlarman

Category: Research and Innovation, Blog Post

Keywords: IRM, Integrated Risk Management, Digital Risk, Digital Risk Management, Cybersecurity, Risk Management, Digital Risk Report