Managing Emerging Risks and Liabilities in Data-Enabled Solutions

This paper addresses emerging liability concerns in new data analytic and IoT solutions. It reviews recent examples in which related technology industries have suffered major liability exposures or failed to fulfill expected service agreements and proposes ways to mitigate this. It also identifies each of the different components of new analytics solutions and explore these for potential risk and liability exposures. This include components such as data privacy across different regions, networking stacks, advanced algorithms for decision making, cloud computing as infrastructure, open source software for rapid prototyping and deployment, the IoT platform for seamless configurability and a stack of intermediate technology partners for viable product development. We prescribe methodologies for limiting liabilities from these exposures.