Explore the causes of technology risk in business. The risks of technology in business can be positive or negative. Technology risks in business can produce net loss or gain for business? What are latest technological threats in business and opportunities? Network with technology risk management experts who can explain the causes for technology risk in a business. Discover the latest technological developments to help or hinder your business success.
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Technology failures will disrupt your business. Failure to use latest technology well may result in your business being unable to seize the benefits of the 4th Industrial Revolution. Legal financial liability reputational damage and compliance issues can all arise from failure to manage technology risks well.
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Mitigate the potential for the good from technological advances to detract from core business processes. Failure to manage upside and downside technology risk reduces benefits of investing in technological upgrades. Do not waste your business opportunity to grow faster more securely with better business technology.
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The changes to business that technology does not automatically mean fewer jobs. The jobs could be fewer stay the same or increase but the type of jobs available will definitively change. This is why governments have to invest heavily in retraining and education.
BusinessRiskTV reporting online discussions and training will always look for practical business solutions that can be easily applied to your organisation.
Technology risk management can bring increased business value and lack of technology risk management can contribute to business failure. Technology risk management needs to focus on the core business objectives when prioritising the use of resources.
Technology risk is a concern to many of our readers. They see it as both a threat and opportunity in 4th Industrial Revolution.
Accessing tips and technology risk insight could help them overcome their fears and expand their business in face of uncertainty.
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Vertical Aerospace 5 Seater Prototype Air Taxi To Be Completed By September 2021
Vertical Aerospace has been funded by founder Stephen Fitzpatrick who also founded the energy firm Ovo. Vertical Aerospace is trying to raise enough funds to make a viable prototype and commercialise the business by 2024.
Nasdaq records record high due to stay at home tech and biotech stocks
The imposition of lockdown creates additional income generation opportunities for companies that provide technology to support people stuck at home under lockdown rules. Conversely the lifting of coronavirus lockdwon measures or recovery from coronavirus pandemic lowers the valuation of some stay at home tech stocks. Some tech stocks benefit massively from the coronavirus pandemic.
Biotech stocks win cause of their innovation and provision of drugs or treatment related to COVID19.
15th November 2019 Italian government political threat to some of the biggest Tech firms in the world likely to be political thin edge of the wedge to online firms
7th August 2019 British Airways IT Online CheckIn Problem Results In Significant Flight Cancellations
British Airways cancelled 117 flights to or from Heathrow as well as 10 at Gatwick affecting more than 15000 passengers.
More than 300 other flights have also been delayed with some more than five hours behind schedule.
Travellers have to rely on British Airways to rebook for another day and pay an extra few hundred pounds to fly with another airline. It is relying on backup and manual systems to cope with the computer problems.
British Airways owner International Airlines Group IAG could face a compensation bill in excess of 5 million pounds as well as significant brand reputation damage. This is the second summer of travel interruptions for British Airways customers due to IT technical problems.
In addition to the IT problems British Airways has also been criticised for the way it handled the problem in terms of communicating to customers and information provision.
Risks Of Technology In Business
Assess your technological risks in business better. Technology risk mitigation of threats and seizing of business growth opportunities.
For example there is growing hype in the media of the threat to humans from robots or new technology. Many jobs will disappear as technology progresses and existing technology becomes more reliable and cheaper to roll-out into practical applications. However many opportunities will also spring from new technology.
Use risk based tools and techniques to squeeze every benefit from new technology. Mitigate any threats to the business from technology.
Technology Risk Management Consultant
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Technology risk is the uncertainty technology plays on the achievement of business or enterprise objectivesBusinessRiskTV
Design your technology risk management framework and risk assessment process to meet and exceed your business objectives.
Technology Risks In Business BusinessRiskTV Tips Advice and Support for Business Leaders
Learn about the different risks to your business’s information technology IT systems and data.
- Protect your business from technology threats to your assets and business processes critical to your business
- Increase your profitability
- Protect your corporate reputation
Learn how to protect and grow your business faster with less uncertainty.
Technological Risk In Business News Opinions Reviews
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7th January 2019 Optician Threat Or Opportunity?
EyeQues Visioncheck smartphone gadget enables you to check your own eyesight and then order glasses online.
Barriers to expansion globally includes the requirement to have an official prescription in some countries. Where prescription is not a barrier the new gadget could make opticians redundant. Where a prescription is required could opticians adopt the new cheap technology to take more market share?
4th September 2018 Technology Risks Could Cost You Your Top Job
TSB CEO Paul Pester has resigned over the IT scandal that hit TSB Bank. He was severely criticised for his handling of a major IT project that left thousands of customers unable to access their accounts for days.
11th July 2018 Former Apple Employee Accused of Stealing Apples Self Driving Secrets and Trying To Flee To China
An ex engineer working for Apple has been accused of trying to steal Apples technology developments on driverless car project and taking the information to Chinese autonomous vehicle start up Xiaopeng Motors.
He was arrested by FBI charged him with stealing trade secrets. Mr Zhang was hired in 2015 to develop software and hardware for Apples autonomous vehicle project. After visiting China in April 2018 he told his supervisor he planned to move to the country to work for Xiaopeng Motors.
The supervisor informed Apples security team which found that Zhang had downloaded copious pages of information from secret databases and had taken hardware from its autonomous vehicle lab.
According to the court documents Mr Zhang admitted to stealing the information during an interview in June. He also admitted using AirDrop to send sensitive content from his own device to his wifes Macbook, they allege.
He could be fined 250000 dollars or jailed for 10 years if found guilty.
19th March 2018 Uber Self Driving Car Kills Women In USA
An Uber self-driving car has knocked down and killed a woman in Tempe Arizona America. Uber has stopped the development of the technology until it undertakes a thorough investigation into the causes and finds a solution to issues raised by the accident.
It is believed this is the first pedestrian fatality to arise from self-driving vehicle, but not the first accident. A human monitor was in the vehicle at the time of the fatal accident but it was operating in autonomous mode.
Uber started testing driverless cars in Pittsburgh in 2016BusinessRiskTV
15th March 2018 Blast Off To Space From Stornoway
The UK government has soon enact a new law allowing commercial launching of flights into space. The Space Industry Act will enable allow launches into space from UK spaceports.
The Space Industry Act will encourage locations around the UK to apply for a licence to launch flights into space just for fun and to make international travel quicker and easier.
Low cost reliable space flight from the UK is coming closer to a spaceport near you!
How can business leaders disrupt the way business is done in future?
Technological risks in Business. If you are not harnessing the opportunities from technology you are threatening your survival in business. Risks of technology in business needs to be a net positive for your business both now and in future. Waiting for the future to happen means you will be left behind.
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