The benefits of automation and other digital processes can be transformative, if harnessed to their full potential. But organisations must also consider the risks associated with such a transformation.
Senior management and the board should be aware of the risks associated with adopting new technologies. Tech evangelists within the organisation may have made a strong business case for technology without fully highlighting the potential issues that can arise. Amongst others such risks may include lack of cost-benefit analysis, weak beta testing, algorithm errors, human biases and workforce resistance to organisational change. It is critical that the adoption of such technology is aligned with the entity’s Strategy and accompanied by a robust Governance framework. Moreover, there are other challenges that have to be considered. Effective project management is particularly relevant for ambitious projects such as the wide-scale implementation of AI. Similarly important, it is the responsibility of the second line of defence to ensure that policies and procedures are updated in line with the change in the way things are done.
This session brings together specialists in emerging technologies from both the Management’s viewpoint as well as from technical perspective. We look forward to bringing insight into how these two viewpoints, which may at times be conflicting, need to be aligned to unlock the value proposition from emerging technologies.