Digital Controls has been saved
Organisations are increasingly introducing and using disruptive digital technologies. The use of new digital technologies exposes organisations to emerging risks in their business models and operations. And, new digital technologies enable new ways to identify, manage and correct risk exposures in operations. Our Digital Controls practice helps clients to address these challenges through our advisory services, digital assets and digital technology enablement.
Organisations recognise 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. Digital technologies can 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 modernise the lines of defence. We help clients to apply digital technologies to revamp the aspects of governance, people and processes in the internal control framework.
When organisations digitally transform their business models or 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 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.
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.