THE article discusses why boards often underestimate technology risks and outlines the critical need for awareness and proactive management. Key points include that many essential technology investments do not yield immediate visible returns, making them overlooked. Technology risks accumulate silently, becoming significant issues only when crises arise.
Boards should focus on various hidden risks, such as deferred modernization, technical debt, reduced AI governance, supply chain dependencies, and cloud concentration. The piece emphasizes creating open communication channels between board members and CIOs/CISOs to foster better understanding of risks. Establishing a culture where discussing risks is encouraged and simplifying complex technical jargon into business terms can improve risk management. Ultimately, the article advocates for boards to engage in discussions about technology risks consistently to prevent potential crises.