Making Better Risk Decisions in a New Technological Environment
Charla Griffy‐Brown, Howard Miller, Vincent Zhao, Demetrios Lazarikos, Mark Chun
Abstract
Emerging technologies such as artificial intelligence, the Internet of Things, and distributed ledger continue to transform businesses, enabling new value creation in transformative ways. Their potential social impacts create risks. These risks are not easily identified or evaluated making it difficult to address them. There are upside and downside risks. Business leaders from companies deploying these technologies are initially interviewed. Development and preliminary testing of three different risk optimization models using scenario analysis data are informed by this information. Using this analysis, we introduce the foundations for a risk model and potentially a dashboard that executives could use to consider these technologies.