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

What this book covers

Chapter 1, Invisible Digitization Tsunami, gives the reader a view into the domains of human work and personal life a few decades back and how fast they have changed.

Chapter 2, Going Digital, provides insight into how our lives, both personal and professional, are saturated with technology. From digital assistants to smartwatches, this chapter discusses how we as humans are becoming increasingly dependent on technology.

Chapter 3, Visible and Invisible Risks, identifies the visible and invisible risks involved in real-life scenarios, from browsing the internet to using an application on our mobile phones.

Chapter 4, Remote Working and the Element of Trust, focuses on the topic of remote working, which is now widespread due to COVID-19. It examines the history and concept of working from home (WFH), the impact of the pandemic, views from various industries, and the risks it presents to organizations.

Chapter 5, Emergence of Zero Trust and Risk Equation, examines how the emergence of zero trust security architecture and risk equation reflects a paradigm shift in cybersecurity. Zero trust emphasizes the need to verify every request and restrict access to resources and aims to balance the costs of security measures against potential losses from cyber threats.

Chapter 6, The Human Risk at the Workplace, goes through the types of risks in the workplace, who they involve, and their repercussions, profiling employees through the lens of academic research on digital risk and live examples. The chapter also illustrates the ways in which each distinct persona is susceptible to digitally risky behavior.

Chapter 7, Modern Collaboration and Risk Amplification, tracks the recent evolution of collaboration in enterprises and institutional workspaces and the implications it has for both employees and management.

Chapter 8, Insider Risk and Impact, offers a qualitative and quantitative approach to evaluating and understanding the implications of insider risk.

Chapter 9, Real Examples and Scenarios, contains four real stories from the corporate world, anonymized but carrying actual details of the way a large data breach or business impact panned out due to the risky behavior of an employee.

Chapter 10, Cyberwarfare, elaborates on the concept of war and cyberwarfare. War refers to an armed conflict between countries or entities, while warfare refers to the tactics used to win. Cyberwarfare is a new form of warfare that uses technology to attack an enemy and inflict damage on physical objects. The chapter will explore the impact of cyberwarfare on countries and organizations and examine the various actors involved, including nation states and cybercriminals.

Chapter 11, An Introduction to Regulatory Risks, contextualizes digital regulatory risk for an average reader. The reader is introduced to a few frameworks that should help them understand the need for the regulations in question and the implications of regulatory risk.

Chapter 12, The Evolution of Risk and Compliance Management, follows the evolution of modern compliance management as a discipline from the common origins of risk management. It also takes readers through a timeline of corporate scandals and scams and correlates those with the development of regulatory frameworks from governments and institutions in response.

Chapter 13, The Role of Data and Privacy in Risk Management, establishes the size of the issue when it comes to enterprise data and introduces readers to the need for companies to responsibly retain or delete their data in the context of modern privacy regulations.

Chapter 14, Remote Work and the Virtual Workforce, discusses the relationship between remote working and AI. The authors believes that AI is changing the nature of work, leading to a redefinition of work and the emergence of new categories of workers known as “work beings”. The authors raises concerns about the impact of this shift on human social connections and well-being.

Chapter 15, Automation and Virtual Humans, explores the idea of human and work beings in the context of technological advancements such as AI and automation. “Work beings” refers to new forms of workers such as robots or avatars that can do tasks previously performed by humans. The chapter also explores how automation and AI will shape the presence of work beings in the workforce and covers topics such as the current state of automation and the development of chatbots and digital humans.

Chapter 16, The Role of AI in Managing Future Lockdowns, looks ahead at the next two decades. The number of internet-connected devices is expected to surpass the number of humans, leading to significant changes in the form and interface of digital devices. The use of AI in these devices will impact human interactions and relationships, creating new habits and posing new risks, such as digital lockdowns that may disrupt electricity and internet connectivity. Laws and regulations are needed to prevent and mitigate these risks and ensure ethical practices in AI technology companies.