Infotech Lead India: IDC, as part of its Top 10 predictions for chief risk officers in 2013, said the cost associated with risk technologies and operations across financial markets will reach over $100 billion in 2013.
The other predictions are the following:
Prediction 2 – Without an effective enterprise finance and risk data strategy, regulatory compliance will have a material impact on industry profitability potentially by one-third, by 2015.
Prediction 3 – Upgrades to energy trading and risk management will be driven by changing compliance and logistics requirements.
Prediction 4 – Utility CIOs’ security practices in 2013 and beyond will center on risk management.
Prediction 5 – The leading risk challenge in Federal government projects is effective and efficient deployment of technologies and IT services. Managing federal government mobile risk will mean balancing multiple elements of device security – enterprise standards will evolve in 2013.
Prediction 6 – Resiliency will become a priority for manufacturers looking to master the “massive multidimensionality” of their global supply chains.
Prediction 7 – Through the lens of risk management, global trade management and import/export capabilities will drive investment priorities.
Prediction 8 – Leading retailers in 2013 will manage risk with big data analytics, begrudged PCI compliance, and a merchant bill of rights.
Prediction 9 – Digitization in the form of connected health, EMR, accountable care, and personalized medicine push breach economics to the edge.
Prediction 10 – Economic risk impact of medical identity theft to crest at $60 billion for patients, providers, and payers; health risk impact impossible to measure.