preview: protiviti's view on emerging risksthe future of the technology. among them: ... •...
TRANSCRIPT
Internal Audit, Risk, Business & Technology Consulting
FPO
As organizations continue to evolve their risk governance practices, focused and relevant
information about emerging risks is at a premium. The objective of Protiviti’s PreView newsletter is
to provide an input for these efforts as companies focus on risks that are developing in the market.
We discuss emergent issues and look back at topics we’ve covered to help organizations understand
how these risks are evolving and anticipate their potential ramifications.
As you review the topics in this issue, we encourage you to think about your organization and
ask probing questions: How will these risks affect us? What should we do now to prepare? Is there an
opportunity we should pursue?
Our framework for evaluation of risks is rooted in the global risk categories designed by the World
Economic Forum. Throughout this series, we use these categories to classify macro-level topics and
the challenges they present.
Inside This Issue
02 Nanotechnology: Tiny Particles, Big Shifts
05 The Global Water Crisis in Perspective
08Artificial Intelligence: The Effects of Machine Learning
11 On the Radar
12 Where to Learn More
13 Continuing the Conversation
EMERGING RISKS
EconomicTechnological
Environmental
Societal Geopolitical
PreViewProtiviti’s View on Emerging Risks
FEBRUARY 2017
protiviti.com PreView, February 2017 · 2
Emerging Risk Categories: Technological, Environmental, Societal, Economic Industries Impacted: Government, Financial Services, Technology, Consumer Products & Services, Agriculture, Healthcare & Life Sciences, Industrial Products & Services
Nanotechnology involves the ability to see,
control and manufacture materials and devices
on the scale of individual atoms and molecules,
and even molecular subunits (supramolecular
level). Since everything on the planet consists
of atoms, the application of nanotechnology is
far-reaching. As scientists and engineers find
ways to manipulate materials at the nanoscale
to take advantage of enhanced properties, such
as higher strength or lighter weight, many
possible applications suggest themselves across
multiple industries.
Nanoscience has been evolving since 1959,
when physicist Richard Feynman introduced
the concept of manipulating atoms on an
infinitesimal scale of 10-9 meters (aka
nanoscale). Since then, scientists in all
fields — chemistry, biology, physics, material
science, engineering, etc. — have been designing
structures and systems to perform these
manipulations. Configurations on a larger
scale are constricted to certain properties of
atoms, such as weight, strength, reactivity and
response to light; however, at the nanoscale,
these structural properties can be altered to
increase a material’s usefulness, advancing
societal needs. These extremely small structures
can be used for anything, from increasing the
strength of sporting equipment to delivering
drugs to diseased cells in a person’s body.
Over the past several decades, nanotechnology
has become increasingly relevant. The
nanotechnology market is estimated to reach
US$12.83 billion by 2021, demonstrating the
promising nature of nanostructures. While
the U.S. is currently the largest market for
nanotechnology, the Asia-Pacific region, Brazil
and Canada are all poised for considerable
growth in the coming years due to favorable
microeconomic conditions and investments.
Nanotechnology: Tiny Particles, Big Shifts
Source: Nanotechnology Products Database, StatNano, 2016: product.statnano.com/.
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Nanoparticles Timeline
1959
1981
2000
2015
2021
1990s
2012
2016
A microscope for imaging matter at an atomic level is developed.1
President Clinton launches the National Nanotechnology Initiative to coordinate federal research and development efforts.
Nanotechnology market reaches $4.49 billion.3
The nanotechnology market is estimated at $12.83 billion.3
Richard Feynman gives the first lecture on nanotechnology and engineering at the atomic scale, presented at the annual meeting of the American Physical Society at CalTech.
First nanotechnology companies emerge.
The United States plans to spend nearly $2 billion on nanotechnology research.2
The Nobel Peace Prize in Chemistry is awarded to scientific discoveries in nanotechnology — the design and synthesis of molecular machines.4
1 https://www.britannica.com/technology/scanning-tunneling-microscope2 https://fas.org/sgp/crs/misc/RL34401.pdf3 http://www.prnewswire.com/news-releases/nanotechnology-market-to-reach-1283-billion-usd-by-2021---industryarc-
analysis-588366601.html4 http://www.nobelprize.org/nobel_prizes/chemistry/laureates/2016/
Key Considerations and ImplicationsAs with any rapidly evolving field, new appli-
cations for nanotechnology are appearing
constantly, along with considerations regarding
the future of the technology. Among them:
• Regulation — Due to the variety of nano-tech applications, supervision of nanotech research can be very complex and difficult to apply. Care must be taken not to strangle a burgeoning field with regulation, while providing a safe environment for beneficial research across many different fields.
• Transparency — Nanotechnology may be used in controversial applications, such as surveillance instruments, miniature guns and explosives, or weapons with the ability to attack physical structures or biological organisms at the molecular level. The tech-nology is not visible to the naked eye, raising concerns of the ability to easily monitor the use of these new applications and provide an appropriate quality control framework. On the sensational end of the spectrum, some have expressed concern that self-replicating nanobots can wreak havoc on Earth if they are not properly controlled.
• Privacy and consent — In healthcare, applications of nanotechnology may represent forms of invasive medicine, raising issues such as appropriate disclosures, patient consent and privacy. Such issues need to be considered early on, before widespread application of the technology in the medical field.
• The environment — The energy industry could experience huge advantages from applications of nanotechnology that can produce fossil fuels more efficiently, as well as spur the production of a number of “green” fuels. In addition, nanotech appli-cations in controlling water pollution could greatly alter environmental risk assess-ments, enabling approvals of oil extraction and other controversial projects. This, in turn, could shift the weight of environ-mental concerns from production methods and water pollution to other risks, such as carbon emissions.
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Nanotechnology is already being used by consumers in everyday products, such as stain-resistant clothing, stronger, thinner and lighter bottles and packaging, and stronger tennis balls and rackets. Below are examples of other applications across industries:
HEALTHCARE
Researchers have developed prototypes of nano-sized robots that can be used to deliver drugs to diseased cells or remove foreign objects in the human body. Drugs themselves can be produced on a nanoscale to allow for minute targeted doses, and DNA-delivering nanoparticles can alter the course of diseases such as cancer by attacking them on the cellular level, reducing dependence on more toxic treatments, such as radiation and chemotherapy. Additionally, the current wave of antimicrobial resistance could be combated if current research projects using nanotechnology prove successful.
ENERGY/FUELS
Shortages in diesel and gasoline can be mitigated using nanotechnology to produce fuel from raw materials more efficiently and at lower cost. Additionally, nanofibers can replace conventional electrodes to greatly improve the performance of hydrogen fuel cells in cars, paving the path for sustainable clean energy vehicles.
WATER TREATMENT
Nanoadsorbents, such as carbon nanotubes, are solid substances that can be used to remove both organic and inorganic pollutants from water. Nanometals can help reduce industrial contaminations caused by arsenic and heavy metals through a chemical reaction process, instead of traditional pumping and treatment of water. Other nanoparticles can act as membranes to remove virus cells, salt and metals from unsafe water to make it drinkable.
ELECTRONICS
Nanoelectronic devices can create better displays and memory chips, all while decreasing their size and power usage. Nanotechnology can also be applied to batteries to make them less flammable, more powerful and easier to charge. It can also extend shelf life dramatically by using nanomaterials to separate the liquid from the solid electrodes when the battery is not in use.
FOOD INDUSTRY
Nanotechnology in food packaging can be used to alert consumers to contaminated food by turning the package a different color once bacteria enters the package. Another food application is nanoencapsulation, a nanoscale-sized coating used to mask the taste and smell of certain additives to foods.
Spotlight: Industry Applications of Nanotechnology
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Emerging Risk Categories: Economic, Environmental, Geopolitical Industries Impacted: Agriculture, Energy & Utilities, Manufacturing, Consumer Products & Services
While oil is often first to come to mind in
discussions of natural resource scarcity and
competition, fresh water is quickly overtaking
oil as the world’s most precious commodity.
The increasingly strained supply of this
indispensable resource is approaching a level
of criticality worldwide that cannot be ignored.
At the present time, about 4 billion people,
comprising approximately two-thirds of the
world’s total population, experience severe
water shortages during at least one month
every year. Based on current trends, it is
estimated that by 2030, water demand will
exceed sustainable supply by 40 percent, a
gap that presents significant humanitarian,
economic and geopolitical concerns. As
policymakers, environmental scientists and
conservationists grapple with the best ways to
address this crisis, the continuous decline in
fresh water availability and quality warrants
attention as one of the leading global risks we
face today, and in the coming decades.
The Global Water Crisis in Perspective
The above graphic was created based on the World Resources Institute’s (WRI) Water Stress Projections report, which depicts the ratio between water withdrawals and total availability by country (year 2030, business-as-usual [BAU] tab). Higher percentages correspond to greater competition among water users.
Projected Water Stress by Country, 2030
Low (<10%)
Low to Medium (10-20%)
Medium to High (20-40%) Extremely High (>80%)
High (40-80%) No Data
Withdrawal-to-Supply Ratio
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Key Considerations and Implications • Urbanization — Along with increases in
overall global population, a key driver for the rising demand for fresh water is the rapid urbanization of developing countries, especially in Latin America, Africa and Asia. As these areas experience greater economic activity, sources of nearby freshwater are being taxed to meet the demand for improved living standards, the production of goods and services, energy generation and the expansion of irrigated agriculture. By 2050, the number of people living in urban areas will almost double to about 6.3 billion people, according to United Nations (U.N.) projections. This concentration is significant given World Bank forecasts that water availability in cities could decline by as much as two-thirds by 2050, largely as a result of climate change and competition from energy generation and agriculture.
• Climate change — As freshwater withdrawals continue to increase each year, the replenishment of these sources is threatened by the impacts of climate change. Along with more frequent and extended droughts in certain regions, rising sea levels can drive saltwater into freshwater reservoirs, requiring expensive desalination efforts to return this water to a usable form. Important freshwater reservoirs, such as the Florida Everglades, which are in close proximity to coastlines, are the most susceptible to this risk.
• Human migration — Global competition for access to fresh water will likely continue to intensify in the coming decades as shortages worsen, leading to population migration and an increased risk of geopolitical conflict. Many regions of the world that are subject to water insecurity, such as North Africa and the Middle East, already experience heightened levels of tension.
• Water quality — While access to steady supplies of fresh water presents an ongoing challenge for many regions, ensuring that this water meets essential quality standards presents another. The World Bank estimates that at least 663 million people lack access to safe drinking water. This raises a variety of health concerns, highlighted by the fact that about 675,000 people die prematurely every year due to poor sanitation, water and hygiene. Even with consistent access to reliable water sources, the cost to transport, purify and store this water is often too steep for many regions of the world.
The scarcity of fresh water poses not only
challenges but also opportunities for
governments and the private sector to invest
in fresh water projects (e.g., desalination,
water purification, centralized networks,
distributed water systems) as a means of
capitalizing on this emerging risk.
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Water is a fundamental input to nearly every industry of the global economy, and is present at virtually every stage of any given value chain, to the point that often it is taken for granted. As water scarcity increases, industry leaders will face a number of challenges with maintaining consistent access to quality water to meet business objectives and support operations. The following water-intensive industries highlight the importance of this precious natural resource:
AGRICULTURE
It is estimated that nearly 70 percent of the world’s current freshwater withdrawal is used for agriculture, largely for the growing of crops and the raising of livestock. As the global population continues to increase, albeit at a decreasing rate, water supplies will be stretched thin to support an increase in food consumption and the production of agriculture-dependent goods and services. According to the U.N., by 2050 the agricultural industry will need to produce an estimated 60 percent more food to sustain the growing global population. This projection underscores the importance of efficiency and conservation efforts aimed at reducing water losses and increasing crop productivity.
ENERGY
Energy production is the second-largest consumer of fresh water in the world, with approximately 98 percent of all generated power requiring water in some form. From the generation of electricity to the production of nuclear power, water serves as a critical input to achieve the energy levels required to support the larger economy. The development and adoption of renewable energy sources, such as wind and solar power, which require less amounts of water than traditional sources, will be key to mitigating this risk.
MANUFACTURING
The U.N. estimates that by 2050 the global water demand in the manufacturing industry will increase by 400 percent, with most of this demand coming from emerging and developing economies. While expansion of economic activity in these areas presents numerous opportunities, the challenge for industry leaders will be finding and gaining access to reliable sources of water. This will likely be very difficult, as many developing countries are in areas of the world that are already depleted of fresh water. Industry leaders will need to consider this barrier to entry prior to establishing or expanding operations in these regions — or consider technologies, such as desalination, that would allow them to generate the amounts of water they would need.
AUTOMOTIVE
The automotive industry uses water in a variety of ways, such as for treatment and coating, washing, rinsing and cooling. According to the U.S. Geological Survey, over 32,000 gallons of water are required to produce one car. Additionally, many automotive companies have operations in developing nations that suffer from increasing water stress. Industry leaders should consider using advanced water management technologies to minimize disruption to their planned production levels due to water shortage.
PHARMACEUTICALS
Water management is of paramount importance to the pharmaceutical industry, which must operate under strict quality and purity standards. Additionally, water is a critical ingredient in both the production and administration of drugs. This industry faces a unique challenge in that it must consider the removal of by-products left in the water system post-production in order to avoid chemical buildup. As water scarcity increases, it is necessary to develop processes that can effectively remove pharmaceutical contaminants from the water system to guarantee its safe reuse.
As the global demand for safe, reliable water sources increases, current supplies will not be able to sustain future needs. Looking forward, country leaders will need to place an emphasis on and promote high-quality, renewable water practices and cooperation in solving this challenge, as water not only transcends borders but is also a basic human necessity regardless of country income or development status.
Spotlight: Water Shortage Impacts by Industry
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Emerging Risk Categories: Economic, Technological, Societal Industries Impacted: Financial Services, Technology, Healthcare & Life Sciences
Machine learning, also known as Analytics 3.0,
is the latest development in the field of data
analytics. Machine learning allows computers
to take in large amounts of data, process it, and
teach themselves new skills using that input.
It’s a way to achieve artificial intelligence, or AI,
using a “learn by doing” process.
Machine learning enables computers to learn
and act without being explicitly programmed.
It evolves from the study of pattern recognition
and the design and analysis of algorithms to
enable learning from data and make possible
data-driven predictions or decisions. It is so
pervasive today that many of us likely use it
several times a day without even knowing it.
In earlier stages of analytics development, the
companies that most benefited from the new
field were the information firms and online
companies that saw and seized the opportunities
of big data before others. The ability to provide
much needed data and information represented
a clear first mover’s advantage for these
companies. While the first movers in big data
were the big winners, their advantage won’t
last much longer as productivity levels out. The
evolution to Analytics 3.0 is a game changer
because the range of business problems that
intelligent automation — a mixture of AI and
machine learning — can solve is increasing
every day. At this stage, nearly every firm in any
industry can profit from intelligent automation.
Companies that invest immediately in machine
learning have the potential to gain long-term
benefits, profiting from the work of analytics
pioneers. To gain these benefits, companies
must rethink how the analysis of data can create
value for them in the context of Analytics 3.0.
In PreView, Volume 2, Issue 2, we highlighted
the challenges that investors in AI face,
including high research and development costs
and the difficulty of retaining people with the
right skill sets. Still, we believe that the long-
term benefits outweigh the costs. The biggest
downside of not adopting AI, and specifically
machine learning, early is that firms delay the
opportunities to profit and risk displacement by
the early movers.
Artificial Intelligence: The Effects of Machine Learning
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Beneficial Applications Versus Risks of Machine Learning
BENEFITS RISKS
• Climate change modeling: Accurate modeling depends on the ability to process a multitude of variable inputs to arrive at a scenario. Machine learning can dramatically increase the speed and accuracy of climate models.
• Autonomous vehicles: Machine learning is essential to the development of truly intelligent cars that can make quick unprogrammed “decisions” based on “observed” data, and to ensuring these cars function safely.
• Medical research: Machine learning can finally help bridge the “knowledge gap” in medicine. It will allow machines to analyze a plethora of patient data with much greater speed than humans are capable of, and suggest diagnoses or treatments that may be overlooked by the physician.
• Risk assessments: A machine trained on vast amounts of data and information can make accurate predictions about risk — but there are caveats, explored below.
• Machines may surpass humans’ highest level of intelligence to a point where they psychologically manipulate people and become destructive to humans.
• People may fail to fully align AI’s goals with the values of humanity, instead focusing on emotionless optimization processes, causing machines to make decisions that are not in the best interest of humans.
• Small or inadvertent errors or bias in the data, may be magnified in the long run as machines train themselves on the faulty inputs, leading to decisions not in the interest of all humans.
• Machines that operate on very large amounts of unrelated data may find patterns or correlations in the data that are meaningless or not actionable, at best, or actionable but wrong, at worst.
Key Considerations and Implications • The moral component — The level of
intelligence and “morality” that a machine exerts is a direct result of the data it receives. One consequence is that, based on the data input, machines may train themselves to work against the interest of some humans or be biased. Failure to erase bias from a machine algorithm may produce results that are not in line with the moral standards of society. Yet not all researchers, scientists and experts believe that AI will be hurtful to society. Some believe that AI can be developed to mirror the human brain and obtain human moralistic psychology to enhance society.
• Accuracy of risk assessments — Risk assess-ments are used in many areas of society to evaluate and measure the potential risks that may be involved in specific scenarios. The increasing popularity of using AI risk assess-ments to make important decisions on behalf of people is a direct result of the growing trust between humans and machines. However, there are serious implications to note when
using a machine learning system to make risk assessments. A quantitative analyst estimates that some machine learning strategies may fail up to 90 percent when tested in a real-life setting. The reason is that while algorithms used in machine learning are based on an almost infinite amount of items, much of this data is very similar. For these machines, finding a pattern would be easy, but finding a pattern that will fit every real-life scenario would be difficult.
• Transparency of algorithms — Supporters of creating transparency in AI advocate for the creation of a shared and regulated database that is not in possession of any one entity that has the power to manipulate the data; however, there are many reasons why corporations are not encouraging this. While transparency may be the solution to creating trust between users and machines, not all users of machine learning see a benefit there.
On the next page, we highlight some of the ways
these implications play out in several industries.
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BIAS IN MEDICINE
Today, artificial intelligence makes it possible to predict the likelihood of a heart attack with much better accuracy than before. While manual systems are able to make correct predictions with around 30 percent accuracy, a machine learning algorithm created at Carnegie Mellon University was able to raise the prediction accuracy to 80 percent. In a hospital, an 80 percent prediction theoretically would give a physician four hours to intervene before the occurrence of the life-threatening event.
However, the accuracy of risk assessments in the medical field may vary depending on the level of bias in the research used to train the machine learning algorithm. For instance, most heart disease research is conducted on men, even though heart attack symptoms between men and women differ in some important ways. If the system is trained to recognize heart attack symptoms found in men, the accuracy of predicting a heart attack in women diminishes and may result in a fatality. For that reason, people who are affected by decisions based on AI risk assessments will want to know how these decisions are systematically made.
TRANSPARENCY IN FINANCIAL ALGORITHMS
Hedge funds, which have always relied heavily on computers to find trends in financial data, are increasingly moving toward machine learning. Their goal is to be able to automatically recognize changes in the market and react quickly in ways quant models cannot. Most of these algorithms are proprietary, for a reason. The risk of having transparency in this case is that as one fund becomes successful using a certain algorithm, others will want to mimic that company’s machine learning method, diminishing everyone’s success and creating an artificial market environment. For this reason, any regulation that attempts to control the transparency of AI must be suitable and appropriate to the various scenarios where AI is used.
RESPONSIBILITY OF SELF-DRIVING CARS
The U.S. National Highway Traffic Safety Administration recently released guidelines for autonomous vehicles, requiring auto manufacturers to voluntarily submit their design, development, testing and deployment plans before going to market with their vehicles. Despite these efforts to increase the transparency around “the brains” deployed in autonomous vehicles, car manufacturers, tech companies and auto parts makers are in a tight competition to develop the software behind self-driving cars, and their need to keep development efforts under wraps to gain market advantage may end up hurting the future of autonomy.
In addition, the nature of machine learning itself makes it very difficult to prove that autonomous vehicles will operate safely. Traditional computer coding is written to meet safety requirements and then tested to verify if it was successful; however, machine learning allows a computer to learn and perform at its own pace and level of complexity. The more automakers are willing to be transparent about the data they input into the learning algorithms, the easier it will be for lawmakers and auto safety regulators to create laws that will ensure the safety of consumers.
Spotlight: Industry Implications
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The Effects of Populism on Trade and RegulationPopulism, defined as a belief in the power of
regular people and their right to have control
over their government as opposed to being
controlled by a small group of political insiders
or a wealthy elite, has started to influence
major events on the global economic and
political stage — but its effects have not yet
manifested themselves fully, or they are not yet
fully understood. While populism is certainly
not new, it has revealed itself recently in the
form of rallies against both foreign trade and
regulation, stemming from the notion that
these practices prevent domestic job growth
and redirect power and wealth from domestic
citizens and corporations to parties abroad. Due
to the speed at which citizens can now organize
and communicate, these movements are more
impactful, less predictable, and more difficult to
address than in the past. Recent events such as
Brexit, the U.S. presidential election and Italian
citizens’ response to proposed constitutional
overhauls evidence their magnitude.
The potential implications of such movements
create uncertainty. Globalization has facilitated
the interchange of worldviews, products, ideas
and culture for a long time and has accelerated
over the last three decades. Global trading
partners and supply chains can’t be cut off
through the proverbial turn of the spigot
without repercussions. Although more
restrictive trade policies theoretically create
domestic jobs, history shows these actions
can also result in job loss, trade wars and an
increase in the price of imports. If restrictive
trade policies give rise to protectionism, that
could precipitate a dangerous downward spiral.
If output declines, deflation occurs and/or
unemployment increases, populist governments
may be pressured to take pre-emptive action to
invigorate their economies, even if that means
limiting imports.
Further, repealing major regulatory
frameworks, such as the one created by the
Dodd-Frank Act, may reduce corporations’
costs of compliance and thus create more
jobs — but this can also leave critical risks
unmitigated. As citizens across the globe
witness the relative ease and power of modern
populist movements, it’s likely that more
movements will arise, making institutions of
global trade and regulatory infrastructures
subject to continuous, and often unpredictable,
change. This trend can have implications of
historic proportions for virtually all nations
and industries.
Cybersecurity Risk RevisitedIn the Volume 2, Issue 1 of PreView, published
in 2015, we highlighted major data breaches
and their financial and compliance-related
implications to select industries. Recently,
federal and state governments have emerged
prominently as targets of cybersecurity
concerns. These government hacks extend from
data breaches to suspicions of tampering with
the election process. To combat the increasing
threat of cybersecurity, the federal government
introduced the Cybersecurity National Action
Plan and also appointed the first Federal Chief
Information Security Officer. Cybersecurity will
continue to be an evolving and persistent risk to
individuals, companies and governments, and
thus a topic for future issues.
On the Radar
protiviti.com PreView, February 2017 · 12
Nanotechnology“Nanorobots: Where We Are Today and Why Their Future Has Amazing Potential,” by Peter Diamandis, Singularity Hub, May 16, 2016: http://singularityhub.com/2016/05/16/nanorobots-where-we-are-today-and-why-their-future-has-amazing-potential/.
“From Super Pills to Second Skin: Meet the Willy Wonka Revolutionizing Medicine,” by Amy Fleming, The Guardian, October 17, 2016: www.theguardian.com/lifeandstyle/2016/oct/17/robert-langer-nanotechnology-pioneer-willy-wonka-revolutionising-medicine.
“Nanomedicine To Combat Infections From Antimicrobial-Resistant Bacteria.” Article published by Nicolas Gouze, ETPN Secretariat in the publication ‘International Innovation’ (Issue 140): www.etp-nanomedicine.eu/public/about-nanomedicine/nanomedicine-applications/amr.
“Nanotechnology & You,” Nano.gov: www.nano.gov/you/nanotechnology-benefits.
The Global Water Crisis“Water Shortage May Cripple Global Power Supply,” by Pola Lem, Scientific American, March 18, 2016: www.scientificamerican.com/article/water-shortage-may-cripple-global-power-supply/.
“What Is Hydrology and What Do Hydrologists Do?” by Howard Perlman, USGS, December 2, 2016: http://water.usgs.gov/edu/hydrology.html.
“2016 UN World Water Development Report, Water and Jobs,” United Nations Educational, Scientific and Cultural Organization, 2016: www.unesco.org/new/en/natural-sciences/environment/water/wwap/wwdr/2016-water-and-jobs/.
Artificial Intelligence“Analytics 3.0 and Data-Driven Transformation,” by Chandramohan Kannusamy, Data Informed, March 7, 2016: http://data-informed.com/analytics-3-0-and-data-driven-transformation/.
“Machine Learning: Of Prediction and Policy,” The Economist, August 20, 2016: www.economist.com/news/finance-and-economics/21705329-governments-have-much-gain-applying-algorithms-public-policy.
“The Rise of the Artificially Intelligent Hedge Fund,” by Cade Metz, Wired.com, January 25, 2016: www.wired.com/2016/01/the-rise-of-the-artificially-intelligent-hedge-fund/.
On the Radar“2017 Markets Likely to Soar Higher Under Trump,” by Katina Stefanova, Forbes, January 1, 2017: www.forbes.com/sites/katinastefanova/2017/01/01/markets-in-2017-reagan-style-republicanism-meets-neo-populism/.
“Italy’s Populists Claim Victory in Referendum, But Chaos Looms,” by Silvia Marchetti, TIME, December 5, 2016: http://time.com/4590204/italy-referendum-matteo-renzi-populists/.
“Presidential Proclamation — National Cybersecurity Awareness Month, 2016,” The White House, Office of the Press Secretary, September 30, 2016: www.whitehouse.gov/the-press-office/2016/09/30/presidential-proclamation-national-cybersecurity-awareness-month-2016.
“Fact Sheet: Cybersecurity National Action Plan,” The White House, Office of the Press Secretary, February 9, 2016: www.whitehouse.gov/the-press-office/2016/02/09/fact-sheet-cybersecurity-national-action-plan.
Where to Learn More
© 2017 Protiviti Inc. An Equal Opportunity Employer M/F/Disability/Veterans. PRO-0217 Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services.
Protiviti is a global consulting firm that delivers deep expertise, objective insights, a tailored approach and unparalleled collaboration to help leaders confidently face the future. Protiviti and our independently owned Member Firms provide consulting solutions in finance, technology, operations, data, analytics, governance, risk and internal audit to our clients through our network of more than 70 offices in over 20 countries.
We have served more than 60 percent of Fortune 1000® and 35 percent of Fortune Global 500® companies. We also work with smaller, growing companies, including those looking to go public, as well as with government agencies. Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI). Founded in 1948, Robert Half is a member of the S&P 500 index.
The risk areas summarized above will continue
to evolve, and there is no question that new
risks will emerge and affect organizations
globally. We are continuing the discussion
we’ve started in this newsletter on our blog,
The Protiviti View (blog.protiviti.com). Our blog
features commentary, insights and points of
view from Protiviti leaders and subject-matter
experts on key challenges and risks companies
are facing today, along with new and emerging
developments in the market. We invite you
to subscribe and participate in our dialogue
on today’s emerging risks. You can also find
additional information on our microsite:
protiviti.com/emergingrisks.
About Our Risk Management SolutionsProtiviti’s risk management professionals
partner with management to ensure that
risk is appropriately considered in the
strategy-setting process and is integrated
with performance management. We work with
companies to design, implement and maintain
effective capabilities to manage their most
critical risks and address cultural and other
organizational issues that can compromise
those capabilities. We help organizations
evaluate technology solutions for reliable
monitoring and reporting, and implement
new processes successfully over time.
Continuing the Conversation
ContactsCory Gunderson Managing Director +1.212.708.6313 [email protected]
Matthew Moore Managing Director +1.704.972.9615 [email protected]
Jim DeLoachManaging Director [email protected]
Andrew ClintonManaging Director [email protected]