As everybody is talking about generative AI and creating articles with the help of one of the AI providers, I have asked to one of the AIs (Claude AI in this case) how has business continuity evolved in these last 20 years.
Hereunder its quick reply. In another article I will include Claude AI’s comment on Bank of Italy’s regulation on BC publishe exectly 20 years ago.
<<Business continuity methodology has evolved significantly over the past 20 years, driven by technological advancements, changing business landscapes, and lessons learned from major global events. Here are some key changes:
1. Shift from physical to digital:
Twenty years ago, the focus was largely on physical document storage and recovery. Now, there’s a much greater emphasis on digital data protection, cybersecurity, and cloud-based recovery solutions.
2. Increased focus on resilience:
The methodology has moved from purely reactive disaster recovery to proactive organizational resilience. This involves building adaptability and flexibility into everyday operations.
3. Integration with Enterprise Risk Management (ERM):
Business continuity is now often viewed as part of a broader ERM framework, rather than as a standalone function.
4. Expanded scope:
The focus has broadened from primarily IT systems to encompass all critical business functions, including supply chain, human resources, and reputation management.
5. Regulatory compliance:
There’s been a significant increase in regulations and standards (like ISO 22301) related to business continuity, influencing methodology development.
6. Real-time threat monitoring:
Advances in technology have enabled real-time monitoring and early warning systems for a variety of threats.
7. Remote work considerations:
The rise of remote work, accelerated by the COVID-19 pandemic, has necessitated new approaches to ensuring business continuity outside traditional office environments.
8. Supply chain focus:
There’s greater emphasis on understanding and mitigating risks in complex, global supply chains.
9. Scenario-based planning:
More sophisticated scenario planning and simulation techniques are now common, often leveraging AI and big data analytics.
10. Emphasis on testing and exercises:
There’s increased recognition of the importance of regular, realistic testing of continuity plans.
11. Stakeholder communication:
More comprehensive strategies for communicating with various stakeholders during crises have been developed.
12. Integration of social media:
Social media has become a critical tool for both monitoring potential threats and communicating during crises.
13. Cloud-based solutions:
The adoption of cloud technologies has changed how organizations approach data backup, recovery, and accessibility.
14. Artificial Intelligence and Machine Learning:
These technologies are increasingly used for risk assessment, predictive analytics, and automated response planning.
15. Focus on intangible assets:
There’s greater recognition of the need to protect and recover intangible assets like intellectual property and brand reputation.
These changes reflect a shift towards more holistic, proactive, and technologically advanced approaches to business continuity management. The field continues to evolve, with ongoing challenges like climate change and cyber threats driving further innovations in methodology.
Source: Claude AI, april 2024
