High-profile cyberattacks have caused boards to evaluate security governance, thinking that acting proactively might blunt future legal challenges, observers say. "As boards evaluate their members and consider replacing or adding members to the board, cybersecurity is going to be one criterion they look for," says Sachin Bansal, general counsel of SecurityScorecard, which rates companies' risks.
Data and analytics are fast becoming core business functions, changing views of governance along the way, writes Saul Judah of Gartner. To build resilient organizations, D&A executives "must begin to think of themselves as business leaders in their enterprise," Judah writes.
The best data governance teams balance technical knowledge and business savvy, writes Chris Foot of RadixBay, which provides IT and consulting services. Foot explains the best practices for data governance, starting with good communication and well-defined goals.
A survey of 700 top executives by Juniper Networks determined that 95% think artificial intelligence has a place in their enterprise, but only 6% reported using an AI-powered solution. Data governance is the biggest hang-up, and almost 3 in 4 respondents cited the need to hire people over paving the way for AI.
Risk managers are coming off a year in which "every risk that the risk management community has ever prepared for came to fruition," says Ellen Dunkin, president of the Risk & Insurance Management Society. Dunkin says risk managers should pivot to being "strategic advisers and key contributors who enable growth and innovation."
The Adaptive Integrated Digital Architecture Framework is a new digital framework that can address agility elements for digital IT strategy that are often lacking in traditional Enterprise Architecture frameworks. The framework allows organizations to have stronger governance in place for their digital transformation projects. Full story: ISACA
Businesses migrating to the cloud need to shift data governance, writes Jyoti Prakash of software-maker Splunk. The move seems simple, Prakash notes, but "growing sets of data streams, applications and services to manage and secure" add complexity.
Just as corporate boards faced shareholder activism after the financial crisis, COVID-19 is creating new openings for attacking governance, writes Lawrence Elbaum of Vinson & Elkins. Activists' tactics "can quickly overtake set play responses, leaving companies sluggish and vulnerable," Elbaum warns.