By Utilities Tech Outlook | Thursday, May 16, 2019
FREMONT, CA: The business ecosystem is under a constant threat from cybersecurity issues and incessantly changing standards and regulations these days. The risk factor has increased manifold and businesses have to keep finding ways to deal with the dynamic changes. To face these issues, business organizations are now looking towards a comprehensive system. The integrated governance, risk, and compliance (GRC) technologies provide a solution to the risk management and security woes of the companies.
The integration of the technologies enables a company to have stronger monitoring and the developed tools ensure a complete view of all the issues that pose risks. Due to the easy visibility of the risks, the companies can address them as soon as they creep up. The integrated technologies of GRC should ideally be applied to all the streams of the organization for the effectiveness to be apparent. The GRC includes automation of the processes and a centralized and safe backup process for database storing as well.
These technologies are going to have an impact on enterprises at various levels. The trends related to these integrated technologies will take over organizations. A few important areas relating to these technologies are the use of artificial intelligence technology as a service, automation of cybersecurity systems, and the changing stand of organizations and individuals on the ownership and use of data.
Artificial intelligence is yet to be developed to its full potential, but it is already one of the essential technologies driving businesses. But a shortage of AI professionals is bound to be felt. This is expected to cause the rise of an industry that would provide artificial intelligence services to help analyze data from the GRC system and solve issues.
Automation of the security management system is an essential step. Automation helps drive auto-remediation with the help of AI and advanced analytics. These provide for increased efficiency and quick remedies in the face of security issues. It also would help decrease human intervention and allow a self-governance mode of functioning.
The conflict between various stakeholders regarding the accumulation and use of consumer data is at an all-time high. Users are demanding more control over their data and awareness about privacy is on the rise. Due to this, some organizations are turning towards a new way of managing user data that involve self-destruction of data after a short duration or not saving any user data at all. This trend is expected to grow.
With businesses looking to transform themselves, these technologies can prove to be the best means towards a secure and well-managed organization. Critical tasks being handled by technologies and easy risk management are bound to help the companies avoid mistakes and help boost growth.