Research on Technology and Resilience 2023
BCI presented its inaugural Technology in Resilience Report. It discusses the market and the drivers and constraints to companies using cloud storage, drones, predictive analytics, and AI for resilience.
Cloud, virtual training and exercising, predictive analytics, IoT, and user experience personification receive the most investment.
Over the past four years, augmented reality, user experience personification, and drones have become increasingly popular. The paper suggested that each of these has a resilience use, and as these technologies mature, their use will rise over the next five years.
A BCI poll found that most workers have adopted new tech.
The paper said AI benefits some BC managers. AI is helping resilience professionals improve risk assessment, decision-making, information sourcing, and controls management. Most study respondents are wary about predictive analytics, especially computer-generated reasoning like ChatGPT’s. They worry about data integrity and ethics.
The analysis indicated that most survey respondents utilize tech for training, with little over one in four still using classrooms. Augmented and virtual reality exercises are becoming more popular. The analysis claimed that a well-designed 30-minute simulation can engage top managers and motivate them to take time off work.
Report on technology and resilience
The report argues that in a post-covid world, the workplace has changed drastically to hybrid and virtual working patterns, making technology key; knowledge sharing becomes increasingly important and must be embedded into technology design and use to reduce “information silo” culture.
The report was launched last week with a webinar chaired by Rachael Elliott, Head of Thought Leadership at the BCI, with Terry Downing, Head of Operational Resilience, Mastercard; Leon Israel, Director of Operations, at the report sponsor, iluminr, a platform; and Christopher Glennie, Global Head of Business Continuity, Arm Ltd.
“The report clearly demonstrate that COVID-19 has moved technology from being a ‘nice to have’ in resilience settings, to one which is quickly becoming the enabler of resilience in organizations,” stated Rachael Elliott.
Compared to the BCI Disruptive technology Report 2019, artificial intelligence and drone utilization in resilience settings have surged by 550 percent and 236 percent, respectively, indicating how quickly enterprises are adopting new technology.
Cyber resilience and data security are still problems, but most resilience professionals are welcoming the changes: more than four in ten would like to see some degree of automation in the BIA process, something that was hardly addressed four years ago.
“In the face of rapid and disruptive change, technology has emerged as a critical enabler of resilience,” said iluminr founder and CEO Joshua Shields. Technology helps organizations proactively detect weaknesses, implement training and exercise programs, develop agility, and improve flexibility through continuous learning and improvement, as seen in this Technology in Resilience Report.
“AI, augmented reality, and blockchain will play a bigger role in resilience in the future. An organization’s capacity to proactively navigate change and thrive in today’s dynamic business climate depends on its resilience technology adoption strategy.