Year-end reflections and outlook: 7 questions with Economist Impact

We are entering a new era of globalization driven by three key forces: shifting geopolitics, climate change, and the fourth industrial revolution, which is marked by the rise of AI. And while these forces have occurred individually in human history, their simultaneous convergence is now creating high levels of uncertainty and risk for businesses. As a result, organizations worldwide are focusing even more on risk and resilience.

Compliance with regulations across borders plays an increasingly important role for information managers. Various export controls and sanctions, as well as critical issues between the West and East, are impacting compliance and regulation worldwide.

In one example of this expansion, a supply chain manager recently found himself meticulously digging through all of his known partnerships, databases, and information management practices to uncover his level of exposure to Russia. Credible and trustworthy information management is increasing in both complexity and importance in the face of this sort of high-stakes risk management.

Related: Amplify risk management. Strengthen resilience. Empower your organization.

Question 2: How do you ensure data integrity and trust in your sources as a research and information leader?

Answer:

It all comes down to trust. The strategies and partners organizations are using to handle their data are under more scrutiny than ever before. Many organizations that once moved away from decentralized data repositories are now considering the ramifications of this strategy.

Related: Information Governance in the age of AI 

Question 3: What’s the balance between data integrity and AI advancement?

Answer:

Organizations are still very much questioning and testing the balance between internal and third-party providers when it comes to their data. “If any company sits in front of me at a conference or a roundtable and says they have their AI strategy all sorted, I think they're pulling my leg,” says John.

And while information leaders are putting extraordinary effort into sorting their data policies to ensure they can use these amazing new technologies, protecting the credibility and integrity of their own data remains the top priority.

Related: Is your data strategy ready for generative AI?

Question 4: How can we empower everyday citizens to engage in AI policy and shape its future?

Answer:

Engaging citizens in discussions about AI and its societal impacts is important for preventing potential backlash against the technology in the future. Exploring deliberative democracies or citizens’ assemblies and bringing more people into these discussions can make them feel like they are part of how AI is impacting society.

Question 5: What are organizations doing internally and externally to prepare for future events?

Answer:

The current global landscape is characterized by high levels of uncertainty, requiring businesses to adopt a risk-focused outlook and invest in long-term planning. Organizations should prepare for future disruptions by having strong BCPs (business continuity plans), quality data, and trusted partnerships. This preparation enables them to confidently conduct business around the world, knowing they are ready to respond when an unfortunate event happens.

Related: What does a risk-aware organization look like? Start by treating risk as a shared responsibility.

Question 6: How do these global issues impact my industry?

Answer:

Today’s organizations are earnestly trying to understand the big picture and, more importantly, draw the connection back to themselves. From climate change that affects supply chains to geopolitical tensions that can impact export markets, organizations need to assess the potential risks and opportunities associated with these global trends and create various scenarios to help them prepare for future possibilities. Leveraging quality data and information will be crucial for informed decision-making at the industry level.

Question 7: What can we do to combat misinformation and disinformation?

Answer:

Misinformation and disinformation pose a significant threat to democracies and private organizations alike. Trusted sources of information and respect for facts and truth are absolutely needed today as we work toward a more informed and resilient society. While misinformation and disinformation will never be completely eradicated, adopting a multifaceted approach that involves individuals, organizations, and governments can help ensure and promote more transparency, critical thinking, and the ethical use of technology.

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