When considering risk, the rhetoric is often around prevention. How could we have prevented the financial collapse of 2008? Or the widespread disruption caused by COVID-19? Naturally, risk assessment is all about preventing and managing risk. However, when we talk about “prevention,” the connotations are of defensiveness, of being on the back foot. There is often a feeling of “How can we survive these risks?” Instead, we should focus on how businesses can leverage risk and risk assessment to gain a competitive advantage.
Iain Brown of SAS, caught up with SAS Collaborator, Peter Lavers and a collection of top tech influencers, to discuss this very topic. They talked about what businesses need to do if they are not just going to fend off risks but turn them to their own advantage. The key, as is increasingly becoming the case in the modern world, is technology and, specifically, AI and analytics.