Technological innovation: Understanding and managing the legal and reputational risks
Just over a decade ago, the financial industry set out to reduce credit counterparty and systemic risks. Now with geopolitical change, the Coronavirus and news of constant cyber attacks, risk managers are shifting their focus and budgets to mitigating emerging risks around the rapid adoption of technologies, including distributed ledger technology (DLT), artificial intelligence (AI), machine-learning (ML) and Cloud technologies. While these newer technologies represent great opportunities, they also introduce new risks.
In a podcast from DerivSource, partner Kate Scott discusses the risks (legal, ethical and reputational) financial institutions face as the adoption of new and innovative technology increases and what measures can be implemented to best manage these emerging risks. You can also read Kate's commentary article based on this podcast here.