Why digital trust will set organizations apart from the competition

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4 minute read 12 Oct 2018
By

Amy Brachio

EY Global and Americas Advisory Risk Leader

Industry leader in risk management. A voice for working women. Passionate about diversity and inclusiveness. Mother. Wife.

4 minute read 12 Oct 2018
Related topics Digital Risk Trust Innovation

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Emerging technologies create new risks and new opportunities. Organizations need risk professionals to build trust in the digital age.

We believe that trust will soon be a major currency that helps differentiate one organization from another.

Those organizations that are able to harness the power of emerging technology are going to be the ones that build and maintain trust with their stakeholders.

“The biggest risk is doing nothing, or moving very slowly,” says Nitin Bhatt, our EY Global Risk Transformation Leader and EY India Risk Leader.

“For instance, when cab aggregators in developed markets started dominating the marketplace, countries around the world didn’t pay any attention. But when these same companies entered other markets – new markets, emerging markets, a number of cab companies in these countries went out of business overnight.”

“Best-in-class risk management has a bifocal view. On the one hand it focuses on the future, by leveraging risk intelligence from within the company. And outside the company it helps companies make strategic choices that enable them to seize the upside of disruption,” says Nitin.

“And on the other hand, best-in-class risk management has an inward focus and protects the enterprise by predicting and managing downside risks.”

Summary

The risk professional of the future is going to be critically important to the success of the organization.

About this article

By

Amy Brachio

EY Global and Americas Advisory Risk Leader

Industry leader in risk management. A voice for working women. Passionate about diversity and inclusiveness. Mother. Wife.

Related topics Digital Risk Trust Innovation