Book Image

Managing Risks in Digital Transformation

By : Ashish Kumar, Shashank Kumar, Abbas Kudrati
5 (1)
Book Image

Managing Risks in Digital Transformation

5 (1)
By: Ashish Kumar, Shashank Kumar, Abbas Kudrati

Overview of this book

With the rapid pace of digital change today, especially since the pandemic sped up digital transformation and technologies, it has become more important than ever to be aware of the unknown risks and the landscape of digital threats. This book highlights various risks and shows how business-as-usual operations carried out by unaware or targeted workers can lead your organization to a regulatory or business risk, which can impact your organization’s reputation and balance sheet. This book is your guide to identifying the topmost risks relevant to your business with a clear roadmap of when to start the risk mitigation process and what your next steps should be. With a focus on the new and emerging risks that remote-working companies are experiencing across diverse industries, you’ll learn how to manage risks by taking advantage of zero trust network architecture and the steps to be taken when smart devices are compromised. Toward the end, you’ll explore various types of AI-powered machines and be ready to make your business future-proof. In a nutshell, this book will direct you on how to identify and mitigate risks that the ever- advancing digital technology has unleashed.
Table of Contents (22 chapters)
1
Part 1: Invisible Digitization Tsunami
Free Chapter
2
Chapter 1: Invisible Digitization Tsunami
7
Part 2: Risk Redefined at Work
16
Part 3: The Future

A timeline of the top events that made regulators take notice

We have created a timeline to show some of the major events which made the regulators and governments sit up and take notice. As we mentioned earlier, many regulatory developments have been a consequence of real-world incidents or mishaps on a large scale:

  • Enron (2001): Enron invested in a new business line of video on demand. Their endeavor guzzled a lot of money and did not give any returns. The company’s management started cooking its books to conceal its losses from this new line of business and started showing yet-to-be-made profits as actuals. In a way, this was a trendsetting example for the 21st century that set the alarm bells ringing for regulators all around the world.
  • Worldcom (2002): This was, at the time, the largest corporate scandal in the US. In order to manage stock prices, the company’s CEO led a senior team to overstate the earnings from 1999 to 2002. It was caught by a team...