The digital transformation of business is creating countless opportunities. Advanced data analytics, robotic process automation, artificial intelligence, blockchain, the internet of things and other innovations are being explored and in many instances commercially exploited. Yet these exciting developments present serious risks: poor choice of technology, badly allocated investment, untrained staff, unrealistic expectations about what new technology can deliver, legal and regulatory compliance failures, and technology-enabled fraud. The legal and regulatory pitfalls of new technology adoption are considerable but often not appreciated. Companies have to work hard to stay within the law and the rulebook at all times to manage these legal, regulatory and fraud risks.
This Financial Times/EY Private Editorial Briefing will explore how companies are dealing with these hazards in the digital age. It will bring together general counsel, chief compliance officers, chief risk officers, chief finance officers and others from a range of industries to discuss the problems they face and the best ways to manage them.