Question

In 300-400 words choose and describe 2 - 3 elements of risk management that you feel will be different in the future. An example would be how information technology will change business in the future. Talk about the changes you see coming, and how risk management will have to adapt.

Answer 1

Risk identifying- The first element "identifying the risk" can be different in future because of Artificial intelligence. Now the AI working on decision making, crime prediction etc. And in some cases it predicts the market opportunities. Then it will be the best tool for identifying the risk.

Risk evaluation- risk evaluation could based on computer algorithms in future. Now it is working in only share markets but in future it can be helpful in evaluate the risk in other corporate fields.

Monitor risk- risk monitoring is technical work.it is doing by softwares those calculations are depend on human.AI can take the place of human for monitoring the risks.

We are seeing that how technology taking the place of mindmade equations in technology. In the future it can be possible that human only have to make the AI software for business then it will going on automatically. Due to technology depend business era businesses will be convert in technical game.

But this is the time for adapt the digitigation in businessess. Technology is better than human prediction in economically. And it is more beneficial with less harms like culture ruining.