“How can IT leaders manage the security risks associated with digital transformation without becoming the department of “no”? Deloitte recommends these three strategies.
Any digital transformation project carries with it potential cybersecurity risks. A big data analytics project may offer unprecedented insights, but it also means amassing volumes of data that could be a target. Mobile apps for consumers and employees allow a company to innovate, at the risk of creating another opening for hacks.
The rapid adoption of digital innovations by consumers and businesses is creating both opportunities and risks, as Deloitte explains in its Managing Risk in Digital Transformation report. Cybersecurity and privacy are prominent among those risks, although Deloitte covers others such as execution risk (the risk of sinking money into digital projects that never launch or go wildly over budget) and third-party risk (depending on reliable partners).
With the recent revolution that started in manufacturing and supply chain, the report states, “we are already seeing the application of new technologies, including robots, the internet of things (IoT), artificial intelligence (AI), cloud computing, predictive analytics and blockchain rapidly changing the way many companies design and curate experiences, manufacture, distribute and service products.”1