Risk is a word that board members have been familiar with for a very long time. As part of their duties, boards must identify, measure, and ascertain what levels of board room risk their organization could encounter. In 2018, that has become an exponentially more difficult job than it was thirty years ago.
As Susan C. Keating, CEO of WomenCorporateDirectors (WCD) writes, “The risks around innovation, company culture, and geopolitical changes will continue to make shareholders and regulators press for more accountability on boards—blame is getting pushed upstream, not down, in today’s organizations.”
In recent years, the issue of risk has moved increasingly into the realm of cybersecurity and cloud data protection. Every year, hackers find new ways to breach systems. As a result, companies are scrambling to ensure that they stay ahead of the curve. MHA Consulting believes that 2018 could be the year that AI enters the realm of risk management by making phishing attacks more sophisticated than ever before.
MHA adds, “It can also be used to learn users’ computer behavior in order to improve the hackers’ field position as they go on to mount the familiar brute-force attacks to try to crack insiders’ network passwords.”