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2021 is shaping up to be a transition year as economies recover from COVID-19. The pandemic had a beginning, and it will have an end. While we endure this pandemic, artificial intelligence, machine learning, predictive analytics, and the commercial applications of these emerging technologies keep opening doors of opportunities. As…
For every decision, we need to try our best to make the right choice. Technology and risk can be described in a positive or negative light. Technologies bring potential perspectives, which are more or less controlled. Risks are often abstract notions used to define what we don’t want. However, a…
The Post-Pandemic Return of Travel Now that hundreds of millions have been vaccinated, people are beginning to travel again. In the United States, TSA checkpoint travel numbers are increasing although not up to pre-COVID levels. On May 15, 2021, the TSA reported 1,453,267 travelers compared to 193,340 travelers on the…
The rise of technology in risk management, in particular non-financial risk management, has been accelerating over the last decade. Significant advances in data science, machine learning, and artificial intelligence, as well as increased interest by regulators in how these technologies may be used to drive corporate accountability and good outcomes…
In every aspect of life, the transferring of tasks and duties from humans to algorithms looks every day more inevitable. There is no reason to believe that risk management is an exception. In this sense, it seems logical that the sooner we accept this reality, the smoother the transition and…
It is incorrect to presume that only large organizations need to manage risk. The size of the organization is not a factor when it comes to dealing with risk; all organizations are responsible for ensuring the availability, integrity, and confidentiality of the assets entrusted to them by their clients. Therefore,…
Damage to reputation or brand, cybercrime, political risk, and terrorism are some of the risks that private and public organizations of all types and sizes around the world must face with increasing frequency. The latest version of ISO 31000 has just been unveiled to help manage the uncertainty. Risk enters every…
In a world of constant change, risk management is increasingly viewed as a means of improving the likelihood of success in the challenging task of managing the organization’s reputation and stakeholder’s interest. The unmanaged risk is the greatest source of waste, whereas a result thousands of jobs and expertise get…
The maximization of profit and efficiency are the main quality objectives for any organization. Developing actions to address risks and opportunities when planning will assist an organization to evaluate the level of risk in an operational context. Risk evaluation and analysis are important aspects of any quality management system. The…
