Friday, April 26, 2019

Techniques in the Innovation of Risk

Innovation is expected and required for any business or function to grow and develop over time. The risk management function is no different, hence risk must embrace innovation.


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Augmented Reality

Augmented reality (AR) is a term for a live direct or indirect view of a physical real-world environment whose elements are merged with (or augmented by) virtual computer-generated imagery - creating a mixed reality.

The innovation of risk "bucket list"

I am going to list the things we have to do before the Innovation of Risk kicks the bucket! More precisely I am going to list the things that have to happen so that the Risk Manager can kick the bucket in his/her current form and shift to a new form entirely.


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Risk Management and the Internet

"The internet provides its users will valuable resources for research and analysis, and for risk management the new innovation is utilising the richness of data on the internet as a critical tool for success."

We share with you an infographic on risk management which provides interesting insight into the current trends relating to internet searches on risk management.

 

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We need more glass half-full risk managers

Way too many risk managers, risk experts, and risk professionals are glass half-empty people.  Of course the role of risk management is to focus on  the potential things that can go wrong, but that does not mean that the risk manager has to be negatively focused.  In actual fact, it is that negative focus that has made risk managers the type of person that businesses wish to avoid rather than engage.

Speed of adoption risk

The rapid change in the consumption of technology is overtaking Moore's Law as the most talked about rule.  Quite simply, over the last decade there have been a significant number of advances in consumer technology and what we have seen is the ever increasing trends in consumption patterns surrounding these new technologies.  The chart detailed in the article by Derek Thompson highlights this ever increasing change in the adoption pattern of technology over time.