Argentina 12 Sep 2018

UNO 31: Hyperconnected and hyper-vulnerable

The high cost of reputation crises. Are we ready for them?

 

The crisis Facebook experienced this year is just one example of the complex world in which we live. The paradigm shift we witnessed is a reflection of the shifting virtual scenario in which risks evolve and crises brew.

We live in a hyperconnected, hyper-transparent world in which citizens (many of whom have become cyborgs by virtue of their mobile extensions) not only spread information to all corners of the planet in a matter of seconds, but sometimes do so with even greater enthusiasm when the information is false, as recently shown by MIT research. Each and every one of us is a risk vector, as we learned last year with ransomware WannaCry.

In this highly digitalized and hyper-transparent risk scenario, the question becomes, how are companies addressing this hyper-vulnerability? How do they deal with cyberattacks, whose rates double each year? How do they protect themselves from their own employees, who have become de facto unauthorized spokespeople? Do they convert them into collaborators in crisis situations? How much money does the world economy lose from financial risk? Are boards of directors getting ready for this new reality by updating their protocols and installing the best management technology?

But it is not only cyber threats that cloud our future. The lack of protection for our personal data and communications, as well as the surge in fake news, threatens to put pressure on the current system of international global relations, increasing risks for governments, corporations and citizens alike.

The lack of protection for our personal data and communications threatens to put pressure on the current system of international global relations

 

How can organizations brace themselves for this reality? Can we prevent or ameliorate any of the effects this change will have on the world? Are we sufficiently ready to handle the crisis when it comes? Would we not save ourselves a lot of money and effort if we were well prepared? Would we avoid the high cost crises have on reputations and businesses if we prepared ourselves before the tsunami of risks came knocking at our door?

Answering these and other questions is why we have come together in UNO 31. Will you join us?

José Antonio Llorente
Founding Partner and Chairman
José Antonio Llorente. Founding partner and Chairman of LLYC. He also chairs the LLYC Foundation, engaged in generating value for social change through communication.He is the author of the book ‘El octavo sentido, ensayo sobre la relevancia de la comunicación en la sociedad del siglo XXI’ [The eighth sense, essay on the importance of communication in 21st Century society]. He is currently a member of the Arthur W. Page Society – an association that gathers together the global communication leaders of the main companies in the world and of the leading international consultancy firms; of the Advisory Council of Human Age Institute - attached to the Manpower Foundation that works to develop employment and employability; and of the Board of Trustees of the Euroamérica Foundation, engaged in the rapprochement between Europe and Latin America. In the field of contemporary art, he is a member of the Advisory Council of the ARCO Foundation and of the International Council of Patronage of the Reina Sofía Museum in Spain. José Antonio worked for the multinational firm Burson-Marsteller for 10 years, where he was the Managing Director of its operation in Spain. He had previously worked for five years at the Communication Department of the CEOE (Spanish Confederation of Business Organizations) and was a journalist for the EFE News Agency.

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