EditorialThe Changing Paradigm of Risk ManagementIn the current business scenario, organisations can no longer afford to overlook risk or act late in a conventional model, when a risk emerges. Businesses must be prepared well in advance with a rational risk management plan to address risks as and when they occur. Thus, it is essential to have a responsible risk management department that plays a significant role at the strategic level and decision making. While making any business decision, it is also imperative to have a comprehensive view from risk management aspect ­ identification of risks, access the risk impact, find options to mitigate the risks, prepare an action plan to mitigate an identifiable risk, and have reasonable provisions for managing any unknown or unpredicted risk.What is indeed fascinating is the fact that the risk management landscape is rapidly changing, and it looks like new risks and response strategies are around every corner. The influence of latest trends like artificial intelligence, machine learning, data analytics, and cognitive learning is disrupting the risk identification and responses practices worldwide. Whether one likes it or not, the effect of novel technologies, climate change, and social networking are pushing organisations to pursue programs with higher risks, some of which were not existing not so long ago. This generates ample opportunities to introduce procedures and systems to manage the emerging risks which are more prominent in impact. Hence, organisations are dependent on the application of emerging trends like artificial intelligence, pervasive controls, behavioural sciences, vigilance & resilience-based systems and collective risk management to manage their project risks. In this edition of CIOApplications Europe, we bring to you some of the leading companies that have excelled through innovation in providing promising risk management solutions in Europe. We hope the inspiring success stories of these providers benefit our readers in pursuit of an ideal collaboration.Let us know your thoughts!Royce D'Souza Managing Editoreditor@cioapplicationseurope.comEditorial StaffBen Jackson Ezra BenjaminJames SmithCalvin JamesSenior WritersLeah JaneClara MathewJoe PhillipSalesJennifer.Sjennifer.s@cioapplicationseurope.com Graphics & ArtScott JuasyJohn Gotham*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEmail:sales@cioapplicationseurope.comeditor@cioapplicationseurope.commarketing@cioapplicationseurope.comDECEMBER - 12 - 2020, Vol 04 - Issue 34 - (ISSN 2644-2531)Published by ValleyMedia, Inc.To subscribe to CIO Applications EuropeVisit www.cioapplicationseurope.com Copyright © 2020 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Royce D'SouzaManaging EditorRoyce D'Souza
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