Is Regulatory Change Impacting the Role of Tech and Data?

With the ongoing geopolitical tension between nations, companies are at great risk of cyberattacks and network vulnerability. The swiftly transforming digital world, along with environmental and mental concerns, have made business security a challenging aspect. So, organizations are planning to rejuvenate their security framework and align it with the disrupting market and regulatory changes. In his article for IT Brief Australia, Jessie Chiang talks about the role of regulatory change in shaping modern tech trends.

Regulatory Change: How It Concerns Businesses

C-suite officials, stakeholders, and end-users have experienced drastic changes in the market over the last few years. While some of the changes were deliberate, various entrepreneurial occurrences were inevitable mishaps. They obstructed company growth and ruined organizational goals. To tackle regulatory change effectively, companies should ensure proper consideration of the following aspects:

Cybersecurity – Third-party vendors have become vital entities in the process of cybersecurity. They also increase the risk of data theft. CIOs should be vigilant of their data security and familiarize their staff with proper training.ESG – Environmental hazards have become a global concern.  Hence, various international companies have begun to include ESG as a part of compliance functions. It will enable relevant and regular changes for the betterment of the environment.Privacy – Data privacy experts have stated that non-maintenance of customer records leads to complicated compliance results.

Current Market Trends That You Should Know

Here is a list of ongoing market trends that will help you enhance your business operations and strategies:

Compliance roles have become one of the crucial components of modern businesses. They allow teams to collaborate in business-wide functions and upscale the company’s productivity.Tech development in the field of AI and machine learning (ML) has eased the digital shift for enterprises.Compliance is dealing with the increasing cost pressures that have directly impacted the companies’ risk and resource management models.

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