The Role of Risk Management in Modern Business and Technology

Abstract

Risk management is an important aspect in contemporary business and technology whereby an organization is able to minimize risks on financial, operational, cybersecurity and regulatory aspects. Current sophisticated risk management solutions are networking traditional solutions with information technology themes, AI, big data analytics, and automation. Risk assessment based on artificial intelligence assists in monitoring the risks and preventing them as they occur and supporting decision-making processes. However, there are challenges including data privacy and protection, the abuse of algorithms and bias, and the adherence to regulatory measures that must be addressed to come up with ethical and clear measure of risk taking. This poll focuses on risk management strategies, Artificial Intelligence in risk management, cybersecurity, and newer threats in digital transformation. Continued research should be directed toward the characteristics of adaptive risk intelligence, sustainable risk governance, and advanced risk idealization for fortifying the business resilience.