The first step for the IT steering committee to review proposals for projects that implement emerging technologies is to understand how the emerging technologies will influence risk across the enterprise. Emerging technologies are new or evolving technologies that have the potential to create significant value or disruption for the enterprise, such as artificial intelligence, blockchain, cloud computing, etc. Emerging technologies can also introduce new or increased risks, such as security, privacy, compliance, ethical, operational, strategic, etc. Therefore, the IT steering committee should understand the nature, scope, and impact of these risks, and how they affect the enterprise’s risk appetite, tolerance, and profile. By understanding the risk implications of emerging technologies, the IT steering committee can evaluate the proposals more effectively and objectively, and ensure that they align with the enterprise’s strategy, goals, and governance framework. According to ISACA’s CGEIT Domain 4: Risk Optimization1, “the enterprise should identify and assess the risks associated with emerging technologies and their potential impact on the enterprise’s objectives and performance.” Furthermore, according to ISACA’s article on Emerging Tech Risk2, “the IT steering committee should have a clear understanding of the risk landscape of emerging technologies and how they affect the enterprise’s risk posture and appetite.” Therefore, understanding how the emerging technologies will influence risk across the enterprise is the best first step for the IT steering committee to review proposals for projects that implement emerging technologies. References:
Emerging Tech Risk - ISACA
IT Governance: Definitions, Frameworks and Planning - ProjectManager
What is IT governance? A formal way to align IT & business strategy | CIO
CGEIT Domain 4: Risk Optimization
