Categories ArchivesNews and Analysis

10 Ethics Rules for Better Risk Management standard

Putting ethics front and centre of senior management decision makers is vital if risk managers want to stay ahead of ethical violations, says Dante Disparte, founder and CEO of Risk Cooperative. With the growing number of firms falling prey to cyber risk, governance failures and market forces, there is a need for greater agility in how decisions are made and risks confronted. Yahoo!, with its record-breaking cyber breach estimated at more than 500 million records, and Wells Fargo are but two of the latest firms to face complex challenges and an unwanted public excoriation. Like VW’s emissions scandal or the warning signs that could have prevented the Germanwings disaster, it is time for senior business leaders and their boards to ...

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Dubai Pilots Blockchain Data Storage With Outlier Ventures standard

Smart Dubai, an ambitious technology-powered transformation project that aims to put a smile on the faces of the residents of the city-state, is now making a big bet on the world’s first open, decentralized data architecture. In partnership with Outlier Ventures, a web 3.0 investment platform with pioneering technology companies leveraging blockchain, artificial intelligence (AI), and a novel vision of convergence, aims to unlock and democratize value from data. The move, which will see the launch of a Dubai Decentralized Data sandbox, will enable innovators to work in a rapid prototyping environment to uncover new ways of organizing, interfacing and extracting insights, value and smiles from Dubai’s data lake. A new report published by Outlier Ventures and Smart Dubai highlights ...

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Jury Duty – A Blockchain Solution Looking For A Problem standard

The right to trial by a jury of peers formed from and representing the diversity in a community is a unique feature of the U.S. legal system, along with numerous jurisdictions around the world. However, being called for jury service, notwithstanding the civic and patriotic duty being upheld, is to experience the very underbelly of government inefficiency. Hurry up and wait is an understatement for most aspiring jurors. Throughout the lifecycle of jury service, from identifying would be candidates who are inclined not to dodge the experience (at their own peril), to the day of jury selection and appearing before a judge in the voir dire process, the amount of friction, inefficiency and operational waste can be greatly simplified using ...

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The Problem With Data Dividends And Taxes standard

As more and more policymakers and elected officials in the U.S. and around the world try to flex their regulatory muscles on cybersecurity and privacy, calls for a citizen data dividend or punitive data tax are getting louder, while the practical ways of achieving this grow more tenuous. The mechanics of this approach, however, much like the general lack of technology literacy on display by many lawmakers, is that the item they want to tax, data the world’s first limitless asset, currently has no generally accepted valuation methods from an accounting point of view. How then do you tax, track, let alone pay dividends on such an amorphous object as data and personal information? Punitive approaches such as the imposition ...

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Navigating the Enterprise Blockchain Wars standard

As one major technology player after another enters the enterprise blockchain arena, each promising some blockchain-based magic bullet such as end-to-end supply chain tracking without fully answering the essential question of how data enters the blockchain in the first place. What is becoming increasingly clear in this emerging technology’s rapid prototyping phase is that to truly harness the potential underpinning blockchain, people should think of it more as a design principle rather than some newfangled technology craze. Doing so would enable a vision beyond the hype and help determine where the use of blockchain, either in a consortium or in single enterprise deployment, is fit for purpose. The hardest part with blockchain and its related technologies, like all digital transformation, ...

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Remittances, the Flywheel of the Global Economy standard

Peer to peer money transfers across borders, or remittances in the short form, are arguably the world’s most important international cashflow. Compared to other cross-border capital flows, such as foreign direct investment (FDI), or official development assistance (ODA), which is typically channeled through multilateral institutions or as bilateral aid, remittances are not only a bigger overall figure, they are more persistent. Remittances have also demonstrated recession resistance. During the 2008 global financial crisis, all cross-border cashflows declined precipitously, while remittances held their course, charging to a projected $715 billion globally in 2019, which is merely the tip of the iceberg as the officially reported figure. In a world roiled by populist sentiments and anti-immigrant tendencies, the world’s well-trodden migration corridors, ...

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Why More Employees Are Going the 1099 Route and Other Insights from a Veteran Risk Manager standard

Risk Insider Les Williams, partner and chief revenue officer of Risk Cooperative, recently shared his insights on some of the top challenges facing the insurance industry today, from talent recruitment and retention to resiliency against emerging threats posed by climate change, weakening infrastructure and IoT vulnerabilities. R&I: You’ve written about the risks facing employers regarding talent recruitment and retention. Given the burgeoning “gig economy” and increasing reliance on automation, what does the workforce of the future look like? Les Williams: A lot of our clients have trouble holding on to technology workers, especially millennials, because in the gig economy people have more options. They want to be able to work virtually as needed. We are seeing more transient folks who ...

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Notre Dame will Rise from the Ashes standard

As 850 years of world heritage burned in Paris, with the dreadful scenes the heart of France Notre Dame cathedral set ablaze, the morning after will show a shell of one of France’s most visited sites and one of the most emblematic examples of patrimoine mondial, or world heritage. While there is no good time for the devastation of such an iconic structure of Christendom and human history, that the roof of Notre Dame was destroyed and its spire collapsed at the onset of Holy Week and the run up to Easter, one of the most sacrosanct times for the Christian faith, makes this loss all the more painful. Hopefully, as France contends with the long reconstruction and recovery process, ...

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Innovation, The First Step And Last Mile Of Human Progress standard

As leaders gathered for The World Bank Group and International Monetary Fund’s spring meetings in Washington, D.C., the question of how to confront and reverse the tide of extreme poverty features prominently on the agenda. So much so, that three banners are strewn from the Bank’s headquarters with this very call to action. Looking at this critical item of human progress through the longer arc of history, set against our current global challenges, and the jury remains adjourned on how we can accelerate human development. This is especially true with so many world leaders reaching for the hand brake on global cooperation and integration. Critically, ensuring that the opportunity gap that has left billions of people behind is narrowed and ...

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We Always Talk About Diversity and Inclusion; Here’s 7 Ways to Make Those Words Actually Mean Something standard

The month of April is “Celebrate Diversity Month,” which begs the question for many: What exactly is diversity? We sometimes hear the word ‘inclusion’ used along with diversity, as in ‘diversity and inclusion.’ Diversity and Inclusion, or DnI, is an issue that makes headlines daily in America and around the globe. So what exactly does DnI mean? The Society of Human Resources Management (SHRM) defines diversity as “the collective mixture of differences and similarities that includes for example, individual and organizational characteristics, values, beliefs, experiences, backgrounds, preferences and behaviors.” They define inclusion as “the achievement of a work environment in which all individuals are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to ...

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