Technology: Risk and regulation in the digital age

As digital technologies continue to evolve, there is increasing pressure on Executives to consider how the adoption of new technologies can improve business efficiency and reduce business and transaction costs. Some of these efficiency gains require digitising functions common to all businesses, such as financial and human resource management, stakeholder and customer engagement, risk management and regulatory compliance. Other efficiency gains arise from the use of technology to improve how a business produces the goods and services they bring to market. In both the operations and production context, the use of technology involves the consideration of a complex range of ethical and legal issues. Executives charged with understanding and addressing these issues must exhibit knowledge not just of the technology itself, but also of the regulatory regimes and compliance mechanisms that govern its use.

This unit introduces you to ‘big data’, machine learning, rules-based decision-making, natural language processing, ‘RegTech’, blockchain, ‘smart contracts’, cloud computing, cyber-security, and electronic instruments and digital signatures. You will gain an understanding of the conceptual principles underpinning these technologies, their associated benefits and limitations and their application in various business contexts. The unit also examines the existing and proposed regulatory regimes and instruments (within and outside of Australia) governing the deployment of these technologies and the use, collection and storage of personal data. A range of case studies from different industries will be used to illustrate how new technologies can be applied to address a range of business needs, and to provide context for considering the practical, legal, ethical and regulatory issues that must be managed before, during and after technology deployment.