The use of cognitive risk sensing for the early detection of emerging risks

Published: Thursday, 05 December 2019 10:00

Of more than 1,590 C-suite and other executives polled by Deloitte, 39.4 percent report that the greatest benefit of using cognitive risk sensing is the early detection of emerging risks and potential threats. However, just 5.3 percent of respondents said that their organization uses enterprise-wide cognitive risk sensing to manage such risks.

The poll was conducted during a Deloitte Dbriefs webcast titled ‘Cognitive risk sensing: Enabling internal audit to anticipate risks’.

According to Deloitte cognitive risk sensing employs human insights with advanced analytics and machine learning to aggregate, analyze and synthesize the world's available data to interpret signals — both threats and opportunities — more effectively. The intelligence generated can reveal emerging issues and disruptions to an organization's brand, products, services, and third-party ecosystem, as well as anticipate changes in the external environment. Equally significant, cognitive risk sensing provides an ability to ingest internal company data to receive an integrated and forward-looking perspective that can help improve risk prioritization.

To implement a true cognitive risk sensing capability across the enterprise, Deloitte says that organizations should seek to address the following key considerations: