The Risk Governance Forum (RGF) under the aegis of the Mauritius Institute of Directors (MIoD), in collaboration with EY Mauritius, held on Thursday, August 21, at the Hennessy Park, Ébène, a workshop themed “Risk Governance in the Age of Emerging Technologies.” The workshop dedicated to businesses and professionals in risk management is designed to strategically reflect on the ever-evolving technologies deemed as complex and the need to redefine risk mapping within the realm of organisations.
In a world where the Generative Artificial Intelligence, autonomous systems and decentralized infrastructure are redefining operational models and chains of responsibility, risk governance are called upon to evolve where organisations must now contend with a new risk typology, often invisible, interconnected and multi dimensional, ranging from algorithmic biases and the low readability of automated systems, to data leaks, increased technological dependence and a governance framework that must constantly reconfigure to remain relevant.
In this context, the forum has enabled to explore how risks committees, boards and executive management can adapt their analysis to better respond to this new trend and development where the challenge is no longer limited to identify risks but also interpret them through reflections, suited to emerging technologies in a bid to make informed and resilient, ethical decisions, aligned with governance becoming increasingly demanding.
A high-level discussion panel chaired by the General Manager at Currimjee Informatics Ltd (CINF) Anousha Sathan, saw the exchange of views by speakers spanning across key sectors, such as the Group CEO of RHT Holding Ltd Sidharth Sharma, CTO of CIM Group Sudheer Prabhu, COO at Tylers Pravesh Gaonjur, and the Head of Digital Transformation at Alteo, Atishay Sookun.
The speakers addressed specific vulnerabilities pertaining to industrial environments, financial technologies, and agro-industrial environments while emphasizing the need to adopt adaptive governance frameworks based on a systematic and updated understanding of risks. The dialogue centred on the significance of shared vigilance and transversal collaboration to meet emerging challenges with clarity and anticipation.
The ICT Minister, Dr Avinash Ramtohul, commented: “Risk Governance linked to emerging technologies is at the heart of our national vision as enumerated in the Digital Transformation Blueprint 2025–2029. The report aims to strengthen the economic resilience of Mauritius while maintaining competitiveness in the global digital economy. Cybersecurity, regulation of AI, and security of critical infrastructure remain essential pillars where our ambition is to foster convergence between public policies and governance bodies, and seek to ensure that technological innovation is synonymous with inclusive, sustainable, and responsible. In this spirit, I laud the MIoD and the Risk Governance Forum for their efforts in playing the role of a catalyst for a strategic dialogue and active partners to buttress risk governance capacities at the service of the business community.”
The Chief Executive Officer at MIoD and chairperson of the Risk Governance Forum, Sheila Ujoodha told, “We are at a critical turning point where technological innovation shouldn’t eclipse the imperatives of responsibility, ethics, and transparency. Today, the board of directors and business executives have to grapple with risks that were not present a few years back. Our responsibility, through the Risk Governance Forum, is to create a space for exchanges to help understand such disruptions, cross-sectoral perspectives, and build collective governance approaches that are not simply reactive but resolutely forward-looking. At the crossroads of corporate governance and innovation issues, the MIoD reaffirms its commitment to catalyse strategic thinking and encourage cross-sectoral collaboration to meet such new challenges proactively.”
On the other hand, the Consulting Service Line Leader at EY Mauritius, Shailen Ramgoolam, added: « The emerging technologies carry a lot of promises, but only solid governance can transform risks into resilience. The facial recognition helps to improve security, but at the same time raises important questions pertaining to private lives; the fintech platforms help to broaden financial access while at the same time remaining exposed to cyberattacks; smart cities optimize urban efficiency, but render possible the risk of massive data breaches. AI, on the other hand, is proving to be a game changer in sectors, from medical diagnosis to fraud detection, while generating systematic vulnerabilities.
The RGF was launched in May 2024 with the support of founding members, including ABC Banking Corporation, Alteo, CIEL Group, CIM Finance, Currimjee Group, Innodis, Leal Group, MCB Group, MUA, RHT Holding Ltd, and UBP, acting as a compass for board members, risk committees, while nurturing a space for strategic dialogue together with creating a systematic reading of risks and a culture of shared vigilance.
