Turning Early Detection into a Strategic Business Advantage
Horizon Scanning, integrated within the SAI360 platform, leverages the latest advancements in AI to identify emerging risks stemming from micro and macro global events. Capturing external intelligence ranging from competitor missteps and new regulations to shifts in public sentiment, Risk Radar can identify patterns and interpret threat levels according to an individual organization’s unique framework. This results in a number of competitive advantages. Below, we highlight four.
Advantage 1 – Get a Grasp on Known Risks
If forced to pick between a known risk or an unknown threat, most risk managers will go for the known risk. Why? You can’t prepare for a threat you don’t know exists. Risk Radar helps surface potentially blind-siding threats, giving compliance officers a longer runway to prepare a more strategic response.
Unknown risks can come with a hefty price tag for businesses. Studies show:
- Cybercrime and sabotage cost German firms $298 billion in a year, highlighting the growing threat of cyberattacks
- Data breaches now cost an average of $4.88 million per incident
- Insider threats lead to an average annual loss of $16.2 million, with North American companies experiencing even higher costs
- Poor data quality results in an average loss of $12.9 million per year, affecting both decision-making and increasing operational risks
- IT downtime can cost businesses anywhere from $8,000 to $700,000 per hour
Advantage 2 – Understand Data-Informed Decision
Risk Radar’s integration directly within the SAI360 Platform means warning signals flow seamlessly into a client’s existing enterprise risk management platform and is visible from its customizable dashboard. Users can quickly assess severity, likelihood, and impact metrics and share reporting for collaboration. As a result, decisions are based on real-time data instead of intuition or gut-feelings, which can be misleading under stressful circumstances.
Advantage 3 – Identify Strategic Advantages
Risk Radar transforms organizations’ reactionary approach to risk into forward-looking resilience. Using Risk Radar intelligence, risk managers can benchmark their risk status against industry standards, calculate the potential impact of an emerging event, and spot vulnerabilities impacting competitors. This extended outlook empowers teams to forecast challenges more accurately, apply AI risk identification methods, and seize new opportunities—safeguarding both daily operations and long-term growth.
Advantage 4 – Gain Increased Efficiency
Built for risk and compliance professionals, Risk Radar leverages AI technology to scan and filter emerging risk intelligence before delivering it into the SAI360 Platform. Its early warning signals are mapped, assessed, and addressed based on a company’s unique internal risk processes. As a result, organizations are equipped to make strategic decisions before threats escalate.
