We talked about AI in a prior post. Tech execs need to be aware of the changing scene in tech and be ready to harness new technology to advance their technology strategy.
Be on the forefront of change because your competitors certainly will be.
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To embrace new technological advancements, understanding their strengths and weaknesses is vital. This comprehension enables businesses to effectively leverage their potential. The next step is to develop a comprehensive plan to drive business improvement using the technology. Garnering support from executive stakeholders is crucial in this process.
Today, many business executives actively explore using AI to tackle their challenges. However, some remain cautious, concerned about potential misuse of this innovative technology.
Similar to Cloud (a broad platform), AI can raise concerns for business end-users regarding data security and control. Technology execs must proactively address these concerns with strategic marketing efforts to gain the trust of business executives.
One concern with new technology is lack of understanding. However, it’s crucial to map and address true risks with a risk remediation plan. Outlining pros and cons with a well-thought-out plan can help gain acceptance for leveraging the technology.
AI isn’t new, but it’s rapidly evolving thanks to advancements in data analytics, modeling, and computing power. This natural progression aligns with most tech execs’ strategies. While valid concerns exist about AI abuse, comprehending the possibilities—both positive and negative—will aid tech execs in incorporating AI into their risk and control frameworks.
Consider the involvement of your Chief Risk Officer when incorporating AI technology into your company’s stack. Involve the Cyber team to vet your proposals and ensure a well-rounded strategy. Get the right people involved to make incorporating AI into your model easier.
Bottom line don’t fear new technology advances. People may misuse it, just like anything in your tech stack. Ensure understanding of risks and have a plan to fix issues.