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Musings by the Tao Of Risk

AI and the Future of Risk Management

artificial intelligence robot ai courtesy of Learn.org

Artificial Intelligence (AI) and other disruptive technologies such as the Internet of Things (IOT) present significant challenges for risk practitioners and those responsible for organizational governance. AI and IOT are driving technology innovation at unprecedented levels. The rate of change as well as the degree of change are occurring faster that we have ever seen before.

The dramatic rate of change is best illustrated by Buckminster Fuller’s knowledge doubling curve. Buckminster Fuller was an American futurist, prominent author, and university professor.  Fuller developed the knowledge doubling curve in the 1980s to illustrate how the collective knowledge of humankind was changing. Knowledge is defined as information and skills acquired through experience or education and Fuller’s knowledge doubling curve is intended to measure the knowledge rate of change in the modern world. Fuller determined that knowledge doubled every century until 1900.

Speaking at the ISACA Ireland 2018!

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ISACA Ireland 2018
is almost here!
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Please join me for my session "Risk Management in the Post-Information Age".

Disruptive technologies such as AI, IOT, and Bots are driving frenetic change in nearly all industries. Experts at IBM suggest that, by the end of this decade, disruptive technologies will cause the collective knowledge of humankind to double every 12 hours. This dramatic rate of change presents incredible opportunities (The Good) as well as unprecedented risk (The Bad). Unfortunately, current risk management practices are woefully inadequate for dealing with the unparalleled risk associated with the Post-Information Age (The Ugly).  

This session will explore risk management practices from the 1500s to today and make a case for the rapid evolution of current risk management practices. The session will present bimodal risk management as the next generation of risk management practices.  Bimodal risk management allows organizations to achieve compliance-driven value preservation while simultaneously using value creation to capitalize on the opportunities presented by disruptive technologies. During the session, we will explore examples of disruptive change in the financial sector, transportation sector, and others. We will offer specific strategies and tactics that enable organizations to prepare for the future and set the stage for transitioning to bimodal risk management.

Speaking at the RIMS 2018 Annual Conference!

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RIMS 2018 is
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Please join me and my colleague Jeff Verner at RIMS2018 for our session "Robots and Risk Management".  

Today we are on the verge of a technologic explosion driven by disruptive technologies such as technology robots, artificial intelligence (AI), Internet of Things (IoT), deep learning, and Big Data. These disruptive technologies are rapidly and dramatically altering the world we live in; pushing the pace of technological evolution to warp speed. The rate of change driven by disruptive technologies require that we fundamentally change the way we think about risk management. Disruptive technologies present countless opportunities for risk practitioners to create value instead of simply preserving value through organizational and regulatory compliance. 

Bi-modal Risk Management (BRM)

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This is an update to my new writing project.  Bi-modal Risk Management (BRM) recognizes that we must preserve the value we have already created but at the same time seek to create new value.  My new book illustrates how risk practitioners can use new technologies like artificial intelligence (AI), deep learning, or the Internat of Things (IOT) to create value.  Check back here and follow me on Twitter (@TaoOfRisk) for updates over the coming months as I finalize the manuscript and publish the book.  

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