Tag: Supply Chain Management

There has always been a growing concern and realization of the need for environmental, social, and governance (ESG) factors as a critical component for successful business development across all sectors. From customers to stakeholders, regulators have been insisting companies consider the environmental impact and contribute their share of corporate social responsibility (CSR) programs to developing a greener society.

Consequently, with the rising competition, ESG factors have arisen as crucial considerations for IT organizations across the globe.

Therefore, to ignite that constant innovation and sustainability consciousness in a business, the Chief Technology Officer (CTO) must come forward to develop a strategic company by uniquely positioning the leverage of numerous technologies that eventually help the company stand out from its competitors.

Today’s exclusive AI Tech Park article aims to highlight the role of the CTO in the ESG journey and how implementing ESG will transform your IT organization.

The Relationship Between ESG and the CTO

The CTOs are the driving force behind the ESG initiative in an IT organization; however, the contribution of employees is equally vital to getting on board for a dignified project. The employees and C-suites need to understand the company’s vision and guide the CTO and IT employees to positively adopt the new ESG practices and prototype sustainability goals that will benefit the overall business. Let’s focus on some of the steps the CTOs can take to adopt their achievable sustainability goals:

Reputational Risk

The failure to integrate the ESG program into the business model can lead to reputational damage and legal risks for the IT firm. CTOs can clearly define their ESG agenda with the help of a supportive ESG team. Further, CTOs need to ensure that the investors are well aware of the required ESG information to let them participate in strategizing ESG goals rather than depending on third-party agencies.

As we move into a digitized business landscape, the incorporation of ESG has become an essential component of profitable business. The technologies implemented can be leveraged as a form of an ESG enhancement strategy with data and insights. CTOs and IT professionals also need to address ESG issues and integrate a modern approach that aligns security practices with business objectives.

To Know More, Read Full Article @ https://ai-techpark.com/the-role-of-ctos-in-esg/

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Edge Computing Trends

In today’s interconnected business environment, companies regularly rely on third parties for critical business functions like supply chain, IT services, and more. While these relationships can provide efficiency and expertise, they also introduce new cybersecurity risks that must be managed. More than 53% of businesses worldwide have suffered at least one cyber attack in the past 12 months and one in five firms attacked said it was enough to threaten the viability of the business. Recent high-profile breaches like the SolarWinds attack have highlighted the dangers of supply chain compromises. Implementing a comprehensive third party risk management program is essential for security. In this post, we’ll explore key strategies and best practices organizations can use to defend against cyber threats from third party relationships.

Limit Access and Segment Third Parties

Once a third party relationship is established, limit their access to only what is required for their role. Segment them into their own virtual network or cloud environment isolated from your core infrastructure. Implement the principle of least privilege access for their credentials. Disable unnecessary ports, protocols, and services. Lock down pathways between your network and the third party. The goal is to reduce their potential impact and restrict lateral movement if compromised.

Continuously Monitor for Threats

Monitor third party networks vigilantly for signs of compromise. Deploy tools like intrusion detection systems that generate alerts for anomalous behavior. Monitor for unusual data transfers, unauthorized changes, malware, and other IOCs. Conduct vulnerability scans and penetration testing against your third parties’ environments. Audit their logs and security events for issues impacting your security posture. The goal is early detection that can limit damage from a third party breach.

Practice Incident Response Plans

Even rigorous security can still experience incidents. Develop plans for quickly responding to a breach impacting a third party. Define escalation protocols and response team roles. Maintain contacts for your third parties’ security staff. Institute plans for containment, eradication, and recovery activities to limit the impact on your organization. Practice responding to mock third party breach scenarios to smooth out the process. Effective incident response can significantly reduce the damage from real world attacks.

Foster Strong Relationships with Third Parties

While security requirements and controls are critical, also focus on building strong relationships with your vendors, suppliers, and partners. Collaborate to improve security on both sides. Offer guidance and training to enhance their practices and controls. Recognize those who exceed expectations. Build rapport at the executive level so security is taken seriously. Cybersecurity does not have to be adversarial – work together to protect against shared threats.

Third party risk management is essential in modern interconnected business ecosystems. Businesses can no longer rely solely on their own security – all external connections must be assessed and managed.
To Know More, Read Full Article @ https://ai-techpark.com/third-party-risk-management-strategies-against-cyber-threats/

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Data science is a rapidly evolving field. How does Tredence stay ahead of the curve and ensure its solutions incorporate the latest advancements and best practices in the industry?

At Tredence, we constantly innovate to stay ahead in the rapidly evolving data science field. We have established an AI Center of Excellence, fueling our innovation flywheel with cutting-edge advancements.

We’ve built a Knowledge Management System that processes varied enterprise documents and includes a domain-specific Q&A system, akin to ChatGPT. We’ve developed a co-pilot integrated data science workbench, powered by GenAI algorithms and Composite AI, significantly improving our analysts’ productivity.

We’re also democratizing data insights for business users through our GenAI solution that converts Natural Language Queries into SQL queries, providing easy-to-understand insights. These are being implemented across our client environments, significantly adding value to their businesses.

How does Tredence leverage data science to address specific challenges faced by businesses and industries?

Tredence, as a specialized AI and technology firm, delivers bespoke solutions tailored to businesses’ unique needs, leveraging cutting-edge data science concepts and methodologies. Our accelerator-led approach significantly enhances time to value, surpassing traditional consulting and technology companies by more than 50%. Tredence offers a comprehensive suite of services that cover the entire AI/ML value chain, supporting businesses at every stage of their data science journey.

Our Data Science services empower clients to seamlessly progress from ideation to actionable insights, enabling ML-driven data analytics and automation at scale and velocity. Tredence’s solutioning services span critical domains such as Pricing & Promotion, Supply Chain Management, Marketing Science, People Science, Product Innovation, Digital Analytics, Fraud Mitigation, Loyalty Science, and Customer Lifecycle Management.

Focusing on advanced data science frameworks, Tredence excels in developing sophisticated Forecasting, NLP models, Optimization Engines, Recommender systems, Image and video processing algorithms, Generative AI Systems, Data drift detection, and Model explainability techniques. This comprehensive approach enables businesses to harness the full potential of data science, facilitating well-informed decision-making and driving operational efficiency and growth across various business functions. By incorporating these data science concepts into their solutions, Tredence empowers businesses to gain a competitive advantage and capitalize on data-driven insights.

To Know More, Read Full Interview @ https://ai-techpark.com/aitech-interview-with-arnab-sen/ 

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