KV Kamath, a seasoned banker and the chairman of Jio Financial Services, urged businesses to use technology on March 4 because without it, they will cease to exist. "Technology prices are plummeting. I'll give you a metric that I believe we should consider when evaluating a firm's level of risk," Kamath added. "I don't think companies will exist without embracing technology," Kamath continued during his speech at the Institute of Internal Auditor India's International Conference 2025. According to KV Kamath, in order to avoid falling behind, businesses should be aware of how quickly technology is evolving in relation to risk. According to him, managers need to advise their organizations on the pace of artificial intelligence development and the ways in which companies will apply it. According to a March 4 survey by the Institute of Internal Auditors (IIA)-Protiviti India, only 16% of Chief Audit Executives (CAEs) stated that they are "highly prepared" to proactively identify and address emerging risks as part of their internal audits, indicating that most Indian businesses lacked the necessary skills to deal with them. Executives bear direct responsibility for compliance, fraud prevention, and operational risk management. Up to 66% of the Chief Audit Executives (CAEs) from large and mid-sized businesses surveyed stated that they considered cybersecurity and emerging technologies like artificial intelligence (AI), machine learning (ML), and bots as the biggest threats to their companies.
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