We all know by now that technology, and the data obtained and analysed through it, has changed the way the world works and in particular, the way we do business. However, at the first American Chamber of Commerce in Australia (AmCham) Tech Talk Breakfast for 2020, hosted at K&L Gates by our very own Cameron Abbott, it appears that a large portion of the business world is still lagging in terms of utilising its own data resources, understanding the power of data generally and the need to establish and implement appropriate and comprehensive security protections and processes.
The four industry leading speakers, Martin Creighan of AT&T, Robert Le Busque of Verizon Enterprise Solutions, Melissa Osborne of Dell Technologies and Matthew Payton of Datacom explored the immense volume of data businesses collect, and the gap in many businesses between their current utilisation and the maximum value held by such data. The speakers noted the importance of having a robust data analysis resource pool with which to effectively analyse the vast amounts of data a business carries in order to maximise the utility of such data in informing ongoing business decisions.
In addition, having regard to the Toll security incident which we have previously blogged numerous times in respect of, the panel explored the importance of having adequate security protections and processes in place. The panel noted that whilst it is difficult to have perfect protections, having established processes in place to handle a security breach is critical to business sustainability.
We at K&L Gates thoroughly enjoyed the discussion, and look forward to hosting more AmCham events in the future. Please see the below photos.