Digital Risk Experts is very rare in having the skillset, technology and IP under one roof to secure the required outcomes. There are two fundamental issues to deal with:
Data growth is explosively exponential and with the increase not just in volume but variety the data management challenge has never been so complex. And yet living with data that is inaccessible, inaccurate or unknown heightens the risks around insider threat, cyber-attack and regulatory scrutiny - all of which impacts resources, budgets and in the worst cases, reputational damage and share value/stock market rating.
Helping to protect individuals and consumers of goods and services provided by our clients through B2B or B2C transactions is at the heart of what Digital Risk Experts does. Legal technologies exist to help legally defensibly manage emails and documents are having to move with the times to deal with Microsoft Teams' chats, Google Hangouts, Instagram, emojis and graphics-based social media apps. Dealing with this requires a significant, organisation-wide commitment to treating data as an asset.
In practice, this is difficult to achieve and requires extraordinary discipline and leadership support: achieving and maintaining data quality calls for a convergence of legal and technology skills and the engagement of everyone in the company.
AI and Evergreen Technology
Choosing the right technology from a myriad of options to fix a specific problem or as part of a strategic plan drains internal resources as part of evaluation and due diligence. Legacy technology stacks, or those brought into the business through M&A activity, can cause discord between Legal, Privacy, IT and Security teams who must find workarounds to achieve compliance and operational robustness.
Evergreen technologies such as Microsoft 365 can compromise operating models underpinned by business and departmental compliance policies. With software changing on an almost daily basis, the policies reflected in the platform itself evolve with the software rather than the business policies – adding significantly to the burden of managing an always fit-for-purpose regulatory and compliance framework.