I just participated in a Gartner Webinar: Top Predictions 2017 and Beyond; Surviving the Storm Winds of Digital Disruption. These events help keep me abreast of technology that impact my governance role. Of interest, for consumer facing businesses, was the gradual adoption of virtual reality in the shopping experience and of voice interface to browse the web without screens. For other business, its is worth noting that more and more algorithms will influence the tasks of global workers thus reducing cost of operations and that business should achieve 10% maintenance-cost reduction with the adoption of specific IoT devices. Board of directors must keep a watchful eye, digital disruption is everywhere, after all driverless cars were not invented by car producing companies…
Canada Health Infoway partnership conference
I will have the opportunity to attend the Canada Health Infoway partnership conference in Toronto on November 17th. I look forward to learning more about digital health in Canada, more specifically medication management, interoperability and consumer health solutions. Come meet me there…
How can the board question strategies to respond to escalating cyberthreats?
An informed blog on the current situation with cybersecurity but more interestingly proposing solutions from trusted source (DoD) for businesses that are overwhelmed by the pace of intrusions: Simplify networks, Build your cyber support community but, most importantly, Be ready for cyber incidents and practice practice practice. Do we have more work to do? Absolutely. This is an area where every time you get better, so does the threat
Do you have enough technology expertise on your board of directors?
A look at some statistics that show many boards do not have enough members with professional technology experience and are putting businesses at risk
https://www.linkedin.com/pulse/do-you-have-enough-technology-expertise-your-board-directors-morin?published=t
Key questions for boards on cyber-risk and cyber-insurance
An interesting overview of why corporate risk managers are being pushed to adopt a better cyber-risk posture and what role cyber-insurance can accurately play in mitigating cyber-risk. The key questions enterprises struggle with are of particular interest to board members as a basis of discussion with management: (a) What is at risk for our enterprise — is it business continuity? Will we experience denial of service or intellectual property theft? Do we hold consumer /financial /patient data?; (b) What is the probability of an event occurring?; and (c) What are the estimated damages?
http://techcrunch.com/2016/05/23/can-startups-disrupt-the-20-billion-cyber-insurance-market/
10 essential technology questions for boards
A good summary of how board should be discussing technology. Instead of seeing technology as a functional tool, the highest performing boards see technology as a strategic lever, on the same level as people, brand and capital. The board must ensure it has enough technology savviness to foster an understanding of what the technology can do for the business and where it fits in the overall strategy
https://www.linkedin.com/pulse/10-most-powerful-technology-questions-any-board-russell-yardley-faicd
Boards must have innovation on their radar
A very interesting read from Deloitte. The underlying theme is that the acceleration of disruption is occurring in all aspects of business, technology and products, HR, business models, compliance, activism, cybercrimes. To react to these disruptions and keep companies relevant, the board must ensure that innovation is also accelerating and that a culture of innovation is prevalent across the company
http://www2.deloitte.com/ca/en/pages/audit/articles/directors-alert-2016.html
Information Technology Association of Canada (ITAC) launches Women on Boards registry
I am proud to be part of the ITAC Women on Board registry, Canada’s first registry profiling 33 Board-ready, Technology experienced women who are qualified and interested in board of directors appointment. This will help Canadian companies find experienced, technology-savvy corporate directors to foster diversity on their boards
http://itac.ca/blog/itac-women-on-boards-registry-a-solution-to-lack-of-ict-board-diversity/
The type of CIO boards should look for
A great follow-up read on the type of CIO boards are looking for. CIO that can really become part of the C-suite, much closer to the business and strategy and that can drive digital transformation. In order to do so, they have to be able to run a cost effective, efficient IT-operation, drive down overhead spending in IT and across the business and make their operations more agile. Does this sound just like the job description of any top manager?
http://deloitte.wsj.com/cio/2016/04/28/how-cios-can-set-a-digital-mandate/
The board HR committee should look for CIOs who are able to guide successful digital transformation
Forbes insight research points out that in five years 42% of companies CIO will spend more than 50% of their time on digital transformation (the evolution to cloud, data analytics, social and mobile capabilities) as opposed to developing digital capabilities in response to request from other departments or running traditional IT department.
Get on board conference, Montreal, June 6th 2016
I am looking forward to speaking on the Director panel during the Canadian Board Diversity Council Montreal Get on Board Series on June 6th 2016
https://www.boarddiversity.ca/en/series
A perspective for boards on managing cyber-risks associated with the Internet of Things (IoT)
A good read to start understanding how the IoT works, why it is so complex and how its security is an essential element of your corporate strategy. The IoT is a system-of-systems. The architecting of these systems is complex and include edge devices, applications, transports, protocols, and analytics capabilities. This complexity introduces challenges related to keeping the IoT secure and managing the cyber-risks associated with it.
https://www.semiwiki.com/forum/content/5384-how-secure-internet-things-iot.html
A primer for Corporate Directors on what is changing in the Internet of Things (IoT)
An interesting article on trends for IoT that describes the technology development that will make the IoT even more pervasive in 2016: blockchain, API, cognitive computing. Board of directors need to stay informed about IoT because of its potential to affect strategic objectives.
http://www.ibmbigdatahub.com/blog/top-internet-things-trends-2016
What you need to know about ransomware
A very relevant article on ransomware proposed by James Gatto, that will help raise awareness of Corporate Directors on cybersecurity. The defensive measures presented are fairly basic and will help protect against a wide spectrum of threats, but unfortunately are not that widely deployed in companies.
http://www.jdsupra.com/legalnews/be-alert-ransomware-attacks-on-the-rise-36287/
Advocating for a more structured approach for board to manage Cybersecurity
An in-depth article arguing the case for adopting an approach to board oversight of cyber risks similar to financial risks: a cybersecurity committee, an independent cybersecurity auditor and cybersecurity expertise and knowledge on the board. It also contains a good summary of various cybersecurity legislation in the US, relevant for Canadian businesses that work across the border.