One of the six habits of Smarter Risk Takers is continuous digital upskilling of risk functions and creative approaches to talent and skill sourcing. Like most companies in recent years, PwC itself is transforming its own labor-intensive business by leveraging technology and deeper digital skills across the Firm. But rather than adopting a business-led, top-down approach to transformation, PwC uses a “citizen-led” approach, which invites employees closest to the processes to rethink how the work is performed. This approach enables the firm to implement change at scale— across the entire firm, delivering accelerated value at great scale to this clients. But to be most effective, these “citizens” must have a mindset that embraces personal and company growth. And they must be familiar with technology concepts, to envision what is possible. Thus, the commitment to citizen-led digital transformation is at the heart of PwC’s own digital accelerator program.
This digital upskilling investment was centerstage at the firms 2019 Risk Summit, which attracts a growing community of experts in risk management, data, and analytics, and citizen-led innovation. According to Lynda Stadtmueller, VP of Research at Frost and Sullivan, and first time participant at the Risk Summit, “PwC continues to invest in its digital upskilling initiative, and the rapid scaling and increased employee participation are evidence that company objectives are being met. The program’s success and popularity can be attributed to several important factors: digital acceleration is a strategic priority, not a training program, it creates a change-resilient workforce, it requires no technology background, it attracts all generations, and it addresses employees where they want to be.”
Dina Brozzetti, Digital Chief of Staff, says that “our digital upskilling journey started with the launch of a digital fitness app, and was soon followed by digital academies and the launch of our digital accelerator program, focused on data analytics, data visualization, automation, and AI. ” And according to Jason Pett, Partner and PwC US Risk Assurance leader, “Risk professionals, like those here at PwC, that are digitally fit position their organisations to make smarter risk decisions as they move through digital transformation. Our experience shows that when risk functions are digitally fit, the benefits an organisation receives multiply in the form of faster progress and greater-than-anticipated payoffs…..and in the end, smarter risk taking.
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