A New Era of Digital Insights and Risk Management
As data has become the foundation for modern commerce and communication, all facets of digital risk are increasingly bet-the-company concerns. Data and its related opportunities and challenges are spread across every business unit, function and stakeholder within nearly every organization. It is all-encompassing, impacting compliance, disputes and investigations, information governance, legal operations, innovation and more.
The FTI Technology Digital Insights & Risk Management Study is a comprehensive report that examines the extent to which organizations are recognizing the high stakes of data and effectively managing digital risk. Senior business leaders from various global geographies and industries, have a continually evolving and expansive spectrum of concerns regarding digital risk and their efforts to manage it appropriately, including how changes in data and regulatory landscapes may lead to potential negative impacts on revenue, regulatory penalties and reputation.
However, the complexity of digital risk makes it challenging to manage, with data and risks spread across every business unit, function, and stakeholder group.
Interactive Self Survey
Take our interactive survey below to measure yourself against your peers and then download a complimentary copy of the report to examine the data and its implications in detail.
Who answered this survey?
FTI Technology surveyed senior and executive-level decision makers across North America, EMEIA, Asia Pacific and Latin America. They spanned titles including, chief data officer, chief information officer, chief information security officer, chief technology officer, chief privacy officer, chief legal officer, general counsel, chief risk officer, chief compliance officer, chief financial officer and chief marketing officer.
More than 90% carry primary or final decision-making authority over the issues covered in the survey.
Roughly two-thirds of participants work in organizations with more than 1,000 employees, with 25% from companies with more than 5,000 employees.
Interactive Self Survey
Question 1/8
What is your most significant digital risk?
- Data privacy
- Data breaches
- Maintaining data quality
- Regulatory compliance and response
- Governance of collaboration tools, devices and other emerging data sources
- Growing data volumes
- Bringing data and systems together post merger
- Growing number of data types
- Growing data volumes related to M&A activity
- Artificial intelligence fairness and bias
In the report, data privacy, data breaches and maintaining data quality were the top ranked digital risks.
Risk Categories
Chart shows total who rated these risk categories as one of the top three concerns to their organization. Figures are rounded; multiple responses allowed.
Question 2/8
Do you conduct regular assessments of your internal risk landscape?
- Yes
- No
In the report, only 44% said yes.
Question 3/8
Do you have a process in place to proactively monitor compliance risks?
- Yes
- No
In the report, only 26% said they are fully proactive.
Question 4/8
Has your organization experienced increased cost and/or risk exposure due to the explosion of data volumes and new formats?
- Yes
- No
In the report, 86% have encountered increased costs or risks associated with emerging data sources.
Question 5/8
Have you implemented data governance controls or workflows to address the influx of new data types?
- Yes
- No
In the report, 54% of information governance professionals said they are conducting data lineage and/or data quality exercises to mitigate the risks associated with emerging data sources.
Question 6/8
Do you expect your regulatory investigations activity to increase?
- Yes
- No
In the report, 76% said they expect an increase.
Question 7/8
Do you address data privacy as a concern during cross-border e-discovery and investigations activity?
- Yes
- No
In the report, 71% of data privacy professionals expressed concern about privacy violations during cross-border transfers.
Question 8/8
Do you have plans to begin or continue pursuing blockchain and digital assets projects?
- Yes
- No
In the report, 94% are investing in blockchain-based systems and programs.
Related Resources
Explore Digital Insights and Risk Management Issues By Role
The stakes are higher than ever. Organizations can no longer afford to treat data as only a granular concern or an “IT issue.” Failure to take digital risk head on can result in compliance failures, excessive costs in investigations, reputational damage and loss of market share. Conversely, using the insights from well-managed corporate data, organizations can innovate, transform and grow.
Learn more about the intersection of data-related issues according to the following corporate functions:
