Organizations are exploring the introduction and use of digital technologies in their businesses. This affects them at two levels. Firstly, the use of new digital technologies exposes these organizations to emerging risks in their business models and operations. Secondly, the new digital technologies enable new ways to prevent, manage, detect and correct risk exposures in their operations. Our Digital Controls practice helps clients to address these challenges through our advisory services, digital assets and digital technology enablement.
- Digital Controls - Organizations recognize that new digital technologies such as AI, machine learning, robotics, cloud, Internet of Things and big data analytics provide opportunities to manage, detect and control risks in innovative ways which significantly increases effectiveness and efficiency. In many cases, digital technologies allow the application of control techniques which were previously infeasible. Our Digital Controls framework provides comprehensive guidance on how to employ new digital technologies to modernize the lines of defense. We help clients to apply digital technologies to revamp the aspects of governance, people and processes in the internal control framework.
- Digital Risk - When organizations 'Go Digital', whether in terms of embarking on transformative digital business models or digital transformation of their operations, they are exposed to new risks or new forms of existing risks. We use our Digital Risk framework to help clients to understand, govern and address potential trouble spots that leading-edge technologies introduce. In digital transformation initiatives, we safeguard our clients’ interests with respect to digital risk exposures and free them to focus their attention on the achievement of their strategic digital objectives in a safe manner.
- AI Control - AI and machine learning are increasingly used to assist and improve business decision making. It is therefore essential that the insights garnered or decisions made by AI algorithms are fair, ethical, safe and explainable especially when they affect safety and other important aspects of human life. Our Trustworthy AI framework is used by Deloitte professionals to investigate the AI models developed by our clients and provide confidence that the algorithms contained in them perform as expected.
- Analytics/Algorithm - AI algorithms are used to create innovative solutions for long standing risk issues, e.g. early warning of emerging risks through big data analytics, credit lending models to assess credit worthiness of under-banked people in developing countries, combating digital fraud or modelling climate risk. These innovative uses are helping to improve our society and create a better world. Our Deloitte professionals have created multiple innovative uses of AI algorithms and deploy them at clients to solve real world risk problems faced by businesses.
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