Gaurav Kapoor is the co-CEO and cofounder of MetricStream. Read Gaurav Kapoor's full executive profile here.
Proactive risk management isn't about predicting the future; it's about understanding trends and preparing for what's coming.
Technology will play a role in unifying organizational risk management. While AI has swept across many industries, its adoption in GRC has Reaping AI's benefits doesn't require a complete GRC overhaul. AI can layer onto existing practices and connect back to GRC. Companies can adapt their AI usage to their needs and existing infrastructure.Traditionally, risk management focused on defense: preventing attacks and breaches, fortifying defenses and minimizing potential damage. Today, the sheer volume and interconnectedness of risks make incidents inevitable. The question isn't if a risk will materialize but when.
Subsequently, utilize technology to establish a unified perspective on compliance, integrating compliance management with other enterprise systems to effectively interconnect the GRC approach. Organizations that embrace this mindset will be better empowered to not only manage their risks but come back stronger when a risk event happens.. To add to the growing cost of threats, cybersecurity insurance premiums will also continue to grow as the number of cyber claims increases.
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