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One-third of companies are ill-prepared in the face of technological risk, says AFP

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April 3, 2018 09:45

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A survey of theAssociation for Financial Professionals (AFP) reveals that one-third of american businesses (32 %) is not prepared to face the risks that may arise in the implementation of new technologies. Only 14 % of companies surveyed say they are confident in their preparation to face the new risks, and 54 % are moderately prepared.

Among these technologies, the companies have named the artificial intelligence, process automation and engineering data as may expose them to risk. AFP adds, however, that many feel that the use of other emerging technologies will not cause a rise in new risks.

The cyber risks are emerging with new technologies

Three quarters of businesses said that cyber risks are the risks that have surfaced during the use of new technologies, followed by operational risks (47 %), business interruption (41 %), errors and omissions (36 %) and the risks related to the regulation (35 %), among others.

To cope with this, the respondents explained that they had revised their approach to risk mitigation. If 15 % of companies said they had revised their approach significantly and 57 % to some extent 28 % have not reviewed their approach.

In particular, the measures include training and awareness of employees on the techniques to be used (61 %), to update the computer systems and security (59 %), revise processes in order to adapt to new technologies (53 %).

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