Renee Murphy, Principal Analyst and Sara Watson, Principal Analyst
One of the biggest challenges a CIO or CTO may face when implementing new emerging technologies is evaluating the risk that a specific technology could bring to the business. In this episode, we hear a session from our recent Security & Risk event, where Principal Analysts Renee Murphy and Sara Watson role-play a risk assessment meeting between a CIO and a chief risk officer.
The episode starts with Watson — in the role of a CIO at a bank — laying out a scenario that many technology leaders can relate to today: She wants to assess the risk of implementing chatbots to modernize their customer experience. Murphy takes on the role of chief risk officer and begins by breaking things down into two areas: external and internal risks.
After digging into the various ways that AI can negatively impact customer experience and referencing some recent real-world examples, the pair then identifies what steps to take to weigh the risks against the expected benefits and improvements.
Murphy then raises the issue of how to leverage customer data for the chatbot without introducing more risk (by misusing customer data). One of the key questions in this area is whether the business plans to use a third-party partner or not in managing the data. Murphy says that the decision to outsource or not should be based on business priorities and that a risk plan is built out based on whichever direction the business chooses to go.
The episode finishes with a short conversation about what a risk dashboard for emerging technologies might include and listing out next steps the chief risk officer and CIO should take following a technology risk assessment meeting.
If you found this conversation compelling, be sure to check out our Security & Risk event this fall. Forrester’s security and risk team is always exploring creative ways to provide best practices and guidance to attendees on a variety of technology risk assessment topics.