Advances in technology and rapid digitization provide great opportunities for businesses and other organizations to become more productive, innovative and relevant in a fast-changing world.
It also presents risks related to shifting employment patterns, widening income inequality, privacy protection and rising cyber dependence – along with greater risk from cyber-attacks, infrastructure disruptions and data loss. New technologies mean new – and often disruptive - business models.
The ability of organizations to manage sustainability challenges relies on developing and harnessing technology to find new solutions.
Apps, analytics, drones and sensors are revolutionizing how clients run their businesses and how ERM delivers its services. Smarter products, better collaboration, faster processes and lower costs are just some of the drivers behind new technology adoption. As with every megatrend, technology poses our clients with both challenges and opportunities.
The internet of things is changing the world we live in. It presents a massive opportunity and a massive challenge.Ken Rosenbaum, Account Director - San Francisco, US
The digital universe is growing. The challenge for our clients is anticipating, identifying, understanding and managing the social and environmental risks and opportunities of new technology – and ERM’s technical experts are helping our clients to meet this challenge.
Technology is a highly disruptive megatrend. The pace of change and innovation is phenomenal. A company can lose market share really quickly to new entrants using new technology.Leigh Lloyd, Partner - Bristol, UK
ERM is helping clients see how understanding the opportunity presented by this megatrend can improve their environmental, health and safety outcomes with data insights and the application of new technologies.
We are seeing the demand for the automation of regular data collation activities and for more real time data from different sources. There is a desire for this information to be presented as a visual display of key indicators to provide insights on performance and enable faster response times to emerging issues
The use of technology also enables the efficient tracking of actions, to determine compliance with management systems or regulations. Alert systems can trigger potential noncompliance or a failure to take action, pre-empting any major issues.
Through linking different sources of data on production sites or other facilities, we are able to develop predictive models to aid in risk management and emergency response planning.