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Groups call focus on disruptive innovations, acceptance, opportunities

Disruptive innovations can provide opportunities for existing business models.

A global non-governmental organization (NGO) and a group of professional internal auditors have called on world leaders to look for opportunities presented by disruptive innovations and embrace the changes they provide as they give opportunities to shift existing business models.

The NGO ISACA and professional internal auditors Institute of Internal Auditors (IIA) said when managing future of governance, risk and control (GRC), investors and regulators should embrace the changes, disruptions and opportunities for innovation presented by new technologies, including blockchain, as well as manage cyber risks from digital disruption.

Simon T. Bailey, who will keynote the 2019 Governance, Risk and Control (GRC) Conference jointly presented by ISACA and The Institute of Internal Auditors (IIA) on 12-14 August 2019 at the Diplomat Beach Resort in Fort Lauderdale, Florida, will provide insight on change, leadership, and customer experience as part of “Shift Your Brilliance – Leading Amidst Change and Uncertainty.”

Bailey believes that change “is an invitation to disrupt what is comfortable and convenient, to embrace what needs to emerge to remain relevant, innovative, and competitive. Everyone views change differently. It’s imperative to give people room to express how they think and feel about the change process. Change is a brilliant opportunity to grow.”

ISACA and IIA said that as technology continues to disrupt industries, leaders must learn to manage the associated risks, embrace change, and adjust their business models.

The conference is expected to bring together more than 700 governance, risk, and control professionals from more than 25 countries to discuss challenges, forge solutions, and define the future of GRC globally. Cyber risks and digital disruption, as well as their impact on corporate culture, will be key themes throughout the sessions and workshops.

Business futurist Patrick Schwerdtfeger will close the GRC conference with his keynote presentation, “Embracing Disruptive Innovation.” Schwerdtfeger, whose technology expertise includes artificial intelligence, fintech, and blockchain, said, “disruptive innovation, which invalidates existing business models, usually comes from the edges of industries, often catching executives by surprise.” Attendees will learn what to ask toward identifying potential threats and opportunities within their business models.

The event will also feature two pre-conference workshops, on 11 August: “COBIT 2019 Bridge Course,” for current COBIT 5 Foundation certificate holders who are interested in understanding the key differences between COBIT 5 and COBIT 2019; and “Tactics (and Courage) to Appraise Corporate Culture,” where attendees will learn how to assess culture risk management, from employee engagement and investigation protocols to incorporating culture risk dimensions into the internal audit domain.

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