Technological Risks Research Articles

The taxonomy of risky activities and technologies: Revisiting the 1978 psychological dimensions of perceptions of technological risks.

The objective of this study is to replicate the original study by Fischhoff etal. (1978) and its replication by Fox-Glassman and Weber (2016) and to examine whether risk perceptions for the previously studied activities and technologies have changed over the past 40 years, especially when activities/technologies related to contemporary concerns are included. To achieve this goal, the list of activities/technologies has been modified. To facilitate the analysis of individual data, all participants were asked to rate the benefits and risks of 24 activities. The within-participant approach was also used to achieve the second objective of our study: to analyze the relationship between perceived benefits and risks. In summary, the design of this study differed from previous studies in the following ways: (1) Nine activities/technologies were added related to contemporary concerns such as global warming and fake news on the Internet; (2) all participants rated both benefits and risks; (3) data were collected online (as in the 2016 study); (4) the study was conducted by Prolific with a sample size large enough to detect medium-size effects (n=382). The two-factor structure proposed by Fischhoff etal.-unknown risk and dread risk-was confirmed on aggregated data for the new set of hazards, which included novel hazards. At the level of individual data, modest support for this structure was observed, and a very strong inverse relationship between perceived benefits and risks was observed.

Financial technology and credit risk management: the case of non-performing loans in Tanzanian banks

Financial technology and credit risk management: the case of non-performing loans in Tanzanian banks

Digital Libraries: Challenges and Problems

ABSTRACT: Digital libraries have revolutionized the way information is accessed, managed, and shared. However, despite their potential to provide unprecedented access to vast amounts of digital content, they face numerous challenges that hinder their widespread adoption and effectiveness. This paper explores the key challenges associated with the development and maintenance of digital libraries. One of the primary concerns is the issue of digital preservation, as the rapid pace of technological change risks making digital content obsolete or inaccessible over time. Another significant challenge is ensuring the accessibility and usability of digital libraries for diverse user groups, including individuals with disabilities and those lacking technological proficiency. Furthermore, the integration of various content formats, metadata standards, and systems often creates interoperability issues, complicating the efficient retrieval and management of digital resources. Privacy and copyright concerns also present hurdles, particularly in ensuring that content is accessible while adhering to legal and ethical standards. Finally, the digital divide remains a persistent issue, as unequal access to technology prevents certain populations from benefiting from digital library resources. This paper discusses these challenges in detail and suggests potential strategies for overcoming them, emphasizing the need for collaboration among libraries, technology developers, and policymakers to address these complex issues.

Digital Money: Opportunities, Challenges and the Future Outlook

Purpose: This study explores the opportunities, challenges, and the future outlook of emerging digital currencies in the like of central bank digital currencies (CBDCs), cryptocurrencies, and stablecoins. The aim is to understand how these digital monetary forms are shaping the global digital currency ecosystem. Methodology: A systematic literature review of 281 studies on digital currencies, published between 2010 and 2024, was conducted. The review focused on identifying key themes such as the regulatory landscape for cryptocurrencies, privacy and anonymity concerns, and technological risks associated with digital currencies. Findings: The review unraveled several dominant themes, including increasing efforts by regulatory authorities to develop comprehensive frameworks to provide legal clarity, enhance consumer protection, and foster innovation in the digital finance sector. However, a significant gap was identified in the integration of regulatory frameworks with Behavioral Economic principles. To address this, the study proposes an integrated regulatory-behavioral framework to influence user behaviour and promote the secure and stable adoption of digital currencies. Unique Contribution to Theory, Policy and Practice: The proposed regulatory-behavioral framework offers an innovative approach to digital currency regulation by integrating insights from Behavioral Economics. This contribution highlights the need for collaborative efforts among policymakers to ensure regulations evolve in tandem with advancements in digital financial technologies. The study envisions a future where CBDCs, cryptocurrencies, and stable coins coexist, with CBDCs playing a central role in establishing a stable, accessible, and efficient digital monetary system.

Mitigating ice sheets and mountain glaciers melt with geoengineering.

The inadequacy of current emission reduction measures necessitates exploring innovative approaches to address the critical issue of ice sheet and mountain glacier melting. Geoengineering emerges as a potential solution to mitigate severe cryospheric changes. This review systematically examines geoengineering techniques tailored to ice sheets and mountain glaciers, analyzing their efficacy, risks, and limitations based on existing literature. Results indicate that while geoengineering technologies can reduce glacier and ice sheet melting, challenges related to environmental risks, ethical dilemmas, and technical feasibility constrain their broader application. Probably more important than technical feasibility is societal acceptance. Therefore, their application raises critical ethical questions, including intergenerational responsibility and equitable resource allocation. Ultimately, the review proposed seven recommendations: focusing on energy conservation and emissions reduction; integrating technologies and strategies; developing means to optimize albedo enhancement; implementing dynamic monitoring; comprehensively assessing the socio-ecological and economic benefits and risks of technologies; transnational climate governance and cooperation; and building ethical and legal frameworks. These strategies aim to guide policymakers in developing effective and equitable strategies for mitigating ice sheet and mountain glacier melting in the context of global climate change.

A scale for evaluating the willingness of national forest farm to participate in forest carbon sink project.

In recent years, the development of Forest Carbon Sink Project (FCSP) has become a key focus within forestry sector. Despite this, decision-makers often lack reliable tools to assess forest owners' willingness to engage in this project. This study aims to develop, validate and evaluate a rational value perception scale as the tool to understand the willingness of forest manager. Based on the theoretical model we proposed, the Forest Carbon Sink Project Development Value Perception Scale (FORSCALE) was developed. The scale consists of two subscales, one is Perceived Benefit Subscale including three dimensions - economic, social, and ecological benefits, another is Perceived Risk Subscale comprising five dimensions - financial, performance, technical, time, and policy risks. Data were collected from 1014 employees across 95 major national forest farms of China. Both Exploratory Factor Analysis and Confirmatory Factor Analysis were employed to validate the multidimensional robustness of FORSCALE. The Multidimensional Graded Response Model in Item Response Theory (IRT) was applied for evaluating the rationality of FORSCALE. Our findings indicated that the scale exhibited a strong multidimensional structure and good model fit. Among the dimensions, ecological benefits, time, policy, and technology risks, were particularly salient to FCSP developers. IRT analysis revealed discrimination parameter ranging from 3.057 to 15.241 and thresholds parameter from -2.296 to 1.055, indicating that all 48 items of the scale possess high discrimination and reasonable thresholds. Additionally, all items demonstrated measurement accuracy that varied along the perceived attitude continuum, with better discrimination for participants holding neutral and negative latent attitudes. Finally, we made specific recommendations for item addition or deletion, and collapsing options to refine the scale. In conclusion, FORSCALE provides decision-makers with an effective tool for creating sound guidance schemes and can be widely utilized in future FCSP development practices.

Competitive assessment of biofuel strategies for a case study in eastern Canada: techno‐economic and multi‐criteria decision‐making analysis

AbstractDecarbonizing the energy sector through biomass use entails risks and uncertainties linked to implementing early stage technologies. To address this issue, this work presents a panel‐based multicriteria decision‐making (MCDM) framework for a corn‐ethanol plant seeking to reduce its carbon footprint while investing in new bioenergy products. Six technology pathways were considered including gasification technologies, pyrolysis, hydrothermal liquefaction, and alcohol to jet, with products such as renewable natural gas (RNG), biochar, green diesel, green marine, and biojet. The alternatives were assessed based on a set of six criteria classified into three categories: economic performance, technology and commercial risks, and competitive advantages. The MCDM framework was based on the multiattribute utility theory (MAUT) for which an in‐person panel of decision‐making stakeholders set the criteria weights. Internal rate of return (IRR) was considered the most important criterion, followed by technology readiness level (TRL) and total installed capital cost (TICC). Surprisingly, the commercial readiness level was allocated a low weight. Finally, the potential for a fossil‐free site (PFFS) criterion was perceived by the panel members more as a desirable attribute rather than a requirement. Among the alternatives considered, the flexible production of synthetic natural gas (FlexSNG) gasification‐methanation process was found to be preferred. The panel‐based MCDM framework proved to be a practical and effective tool for assessing early‐stage biofuel strategies, encouraging alignment with technological innovation, sustainable development, and the company's values and future ambitions.

A roadmap for governing AI: technology governance and power-sharing liberalism

Abstract This paper aims to provide a roadmap for governing AI. In contrast to the reigning paradigms, we argue that AI governance should be not merely a reactive, punitive, status-quo-defending enterprise, but rather the expression of an expansive, proactive vision for technology—to advance human flourishing. Advancing human flourishing in turn requires democratic/political stability and economic empowerment. To accomplish this, we build on a new normative framework that will give humanity its best chance to reap the full benefits, while avoiding the dangers, of AI. This new framework of “Power-Sharing Liberalism” is a philosophy that restores protections of positive liberties to liberalism. As we deploy it here, it helps shape a more comprehensive (and we would contend, more accurate) understanding of both risk and opportunity introduced by AI. To lay out how Power-Sharing Liberalism can be applied to AI governance, we take four steps. First, we define central concepts in the field of AI governance, disambiguating between forms of technological harms and risks. Second, we review current normative frameworks around the globe and argue that Power-Sharing Liberalism is a better fit for governing AI. Third, we walk through the six governance tasks that should be accomplished by any governance framework and analyze them through the Power-Sharing Liberalism framework. Based on that analysis, we make 17 recommendations for the governance of AI—including transformative investments in public goods, personnel, and the sustainability of democracy itself. Finally, we discuss concrete proposals for implementing those recommendations.

The Impact of Digital Transformation on Organizational Performance and Operational Risks in Banking Sector

This study examines the impact of digital transformation (DT) on organizational performance and operational risks in the banking sector. Internal factors analyzed include communication, comprehension of DT, operational technology readiness, process complexity, risk monitoring, and operational risk training, while external factors encompass regulatory compliance, digital experience, budget constraints, and cyber resilience. Using fuzzy-set qualitative comparative analysis (fsQCA) on survey data from 100 Indonesian banking professionals, the findings highlight the critical role of risk monitoring and operational technology readiness among internal factors, and cyber resilience and budget allocation among external factors. The interplay of these elements, such as combining risk monitoring with cyber resilience, is key to optimizing performance and mitigating risks. This study provides actionable insights for practitioners, policymakers, and scholars, emphasizing the alignment of internal capabilities with external demands. It highlights the importance of streamlined processes, cybersecurity frameworks, and supportive regulations for sustainable DT. While limited by sample size and subjective data, the research identifies opportunities for future studies, including cross-sectoral analyses and the use of objective performance metrics.

Data-Driven Enterprise Financial Management Intelligent Transformation Path Analysis

In the digital economy era, the intelligent transformation of enterprise financial management has become a key measure to enhance enterprise competitiveness. Based on the data-driven perspective, this paper systematically analyzes the theoretical basis and technical support of enterprise financial management intelligent transformation, and deeply discusses the main challenges faced by current enterprise financial management in intelligent transformation, such as technical investment, talent reserve, and data standardization. The research constructs an enterprise financial management intelligent transformation path that includes overall framework design, key technology application, process optimization, risk control, and performance evaluation. Practice shows that data-driven intelligent transformation can effectively improve enterprise financial management efficiency, reduce operating costs, and enhance risk control capabilities.

Representations of changing weather conditions and outdoor work in the Swedish media: Legitimization of a risk discourse.

Accelerating climate change has been associated with, among other things, rising temperatures, rising sea levels, extensive periods of precipitation, and difficult wind conditions. These are said to affect large segments of society, not least outdoor workers, whose working conditions are negatively affected. Much media attention has been paid to the situation of outdoor workers, and the media presents tips on what to consider when working in conditions such as high temperatures. The aim of this paper is to explore how the Swedish media reports on outdoor workers and their working conditions in relation to climate change and difficult weather conditions, especially high temperatures. The aim is also to describe and analyze how an identified risk discourse is legitimized in media representations of extreme weather and outdoor work. The study is based on a qualitative analysis of 72 articles in the Swedish media, available in the digital archive retriever.com (Mediearkivet). A social constructionist perspective is used to explore how weather, climate, and risks are "constructed" in the material, and a focus on storytelling techniques and legitimization strategies makes it possible to investigate how certain views of weather, climate, and risks are justified. According to the results, climate change and changing weather conditions are related to risks at both a structural level and an everyday level in working life. Two overall categories of risk are identified, on one side physiological and mental risks, and on the other economic and technological risks. Together, these categories underpin a general risk discourse that is legitimized using strategies such as scientification, dramatization, and personification. The conclusion is that the media representations are characterized by a de-politization of climate change and changing weather conditions, and by a focus on individual adaptation to these changes.

Providing an Analytical Model of the Relationship Between Advertising Content Risks and Behavioral Intention in Social Networks

Objective: The objective of this study is to examine how various risks affect consumers' reactions and purchase intentions in social media advertising. Methodology: The research employed a mixed-method approach. Initially, Interpretive Structural Modeling (ISM) was used to identify relationships between risks, followed by Structural Equation Modeling (SEM) using SMART PLS to test these relationships quantitatively. Data were collected through a cross-sectional survey of social media users, and the relationships between identified risks were analyzed. Findings: The results show that "environmental risk," "technology risk," "product risk," and "security and privacy risk" influence "operational risk." Moreover, operational risk positively affects "content risk," which in turn influences "functional risk." "Functional risk" negatively impacts consumers' behavioral intentions to purchase, while content risk undermines the credibility of ads, diminishing their perceived functionality and value. Findings support the theoretical literature on risks in online advertising and consumer behavior. Conclusion: The study concludes that managing advertising risks, particularly content, functional, and operational risks, is crucial for enhancing consumer trust and purchase intentions. Marketers should focus on transparent ad content, secure payment systems, and addressing product information risks to mitigate the impact of these risks. Future research should explore additional variables, such as trust and commitment, to provide a more comprehensive understanding of risk perceptions in social media advertising.

Financial technology and climate risks in the financial market

Financial technology and climate risks in the financial market

Exploring the non-linear impact of information and communication technology, globalization, and geopolitical risks on poverty in Pakistan

Exploring the non-linear impact of information and communication technology, globalization, and geopolitical risks on poverty in Pakistan

Probability of bank distress: Investigating a risk landscape of an emerging economy

The banking sector in Albania plays a significant role in maintaining financial stability. In the context of a changing global environment, banks can be impacted by various risks, including climate risk, geopolitical, technological, and cyber risks. By addressing these risks, banks in Albania can enhance their resilience. Based on the latest financial stability report of the Bank of Albania (2023b), the banking sector’s resilience to withstand risks is assessed as robust. The purpose of this research is to provide an understanding of the prevailing risk landscape and to measure the probability of default (PD) of banks in Albania based on various financial metrics. Logistic regression is used as the methodology for predicting the likelihood of distress. The findings reveal that capitalization, profitability, managerial quality, asset quality, and concentration are significant predictors of default, with asset and managerial quality having the largest impact on the odds of default. The study is relevant, as assessing the distress of banks and the likelihood of their default by establishing an early warning system and evaluating financial and operational metrics, alongside macroeconomic factors is crucial to take corrective actions before banks become critical to systemic risk and financial stability.

The spillover effect of IPO technology risk information on stock price synchronization: Evidence from China

The spillover effect of IPO technology risk information on stock price synchronization: Evidence from China

HOW RISK MANAGEMENT CAN BE IMPLEMENTED IN NEW AGRO-PRODUCT DEVELOPMENT (NAPD)?: A SYSTEMATIC LITERATURE REVIEW

New product development is highly complex because it integrates technical challenges from both internal and external sources. The potential for uncertainty or failure exists at every step of the product development process. One of the important tools to minimize risks in product development is risk management in new product development. This paper aims to review some research literature on the concept, process, and category of risk management in new agro-product development. This research uses a literature review analysis to analyze the concept and process of risk management in new product development. The articles were selected from Emerald, Elsevier, Springer, MDPI, and Taylor & Francis databases. The findings of this study demonstrate the critical role of risk management in minimizing risks associated with new product development through the implementation of diverse strategies. Risk management involves identifying, analyzing, evaluating, and treating risks. A variety of internal and external factors influence risk in product development. Internal factors are design, production, financial, management (organizational), marketing, market, technology, and supplier risks. External factors include suppliers, customers, and retailers outside the company. Many businesses, including small and medium-sized enterprises (SMEs), have adopted risk management to prevent product failures and financial losses. This paper provides a research framework for applying risk management to new agroindustrial product development.

EMPOWERING BANKING THROUGH AI: ANALYZING CUSTOMER PERSPECTIVES AND ADOPTION DRIVERS IN INDIA

Background: The future of an economy is largely dependent on the functioning of its banking sector. Artificial Intelligence (AI) has turned up as a dynamic force exerting a significant influence over the banking industry functions. This research looks at the role of AI in banking from a customer perspective. Methods: Primary sources of data collection were used and data was gathered from 250 respondents using a well-structured questionnaire. Analysis was conducted deploying various statistical techniques like descriptive statistics and inferential statistics including correlation analysis, regression analysis and ANOVA. The study proposes a framework to measure the intention to adopt AI in Indian banking system and the factors influencing the adoption decisions. Results: The findings show that intention to adopt AI in banking is influenced by awareness, attitude towards AI, subjective norms, perceived risk, perceived usefulness, and knowledge of AI technology. It yields a positive perception and intention towards AI adoption with perceived usefulness and perceived risk having strong correlation with adoption intention. Recommendations are given to accelerate AI in banking by investing in AI integration, customer trust building and tailored marketing strategies. Concludingly, embracing AI can drive banking innovation, deliver better services, build deeper customer relationships and be competitive in the market.

Sanitary audits in public catering enterprises activities as a self-examination tool

State policy in the field of quality and safety allows for the possibility of product deviations from the requirements of regulatory documents. Risks in the field of quality and safety of food products in general and public catering services in particular were discussed for the first time after the adoption of the Federal Law "On Technical Regulation" dated December 27, 2002 N 184. In this law risk is considered as the probability of causing harm to the life or health of cit izens, the property of individuals or legal entities, state or municipal property, the environment, the life or health of animals and plants, taking into account the severity of this harm. Subsequently, due to the requirements of the tech nical regulation TR CU 021/2011 "On the safety of food products" and the updating of the Food Safety Doctrine, risks began to be considered comprehensively and systematically, starting with economic and ending with technological risks. One of the promising areas of implementation of preventive measures that can be independently carried out by economic entities is self-examination. According to the Federal Law "On state control (supervision) and municipal control in the Russian Federation", self-examination is understood as an independent assessment of compliance with mandatory requirements. This form of preventive measures is not sufficiently implemented within the framework of the responsibility of Rospotrebnadzor. Certain conditions for its implementation must be met, which are stipulated by the regulatory document: 1) self-examination is carried out in an automated mode; 2) controlled persons who have received a high assessment of their compliance with mandatory requirements; 3) the supervisory authority has the right to accept a declaration of conformity based on the results of self-examination.

Evaluation of IT Governance in Indonesia's One-Door Investment and Integrated Services Institution using COBIT 5

This research aims to evaluate the information technology governance at Indonesia's One-Door Investment and Integrated Services Institution using the COBIT 5 framework. COBIT 5 is a comprehensive framework that provides a model for managing and governing information technology within an organization, to ensure the achievement of strategic and operational objectives. The research was conducted through several stages, including identifying relevant information technology processes, data collection through questionnaires and interviews, and analysis of the evaluation results using capability levels provided by COBIT 5 framework. The study results indicate that most information technology processes at Indonesia's One-Door Investment and Integrated Services Institution are at capability levels that require improvement, particularly in information technology risk management, performance management, and internal controls. Several recommendations are provided to enhance information technology governance at Indonesia's One-Door Investment and Integrated Services Institution, such as strengthening information technology policies and procedures, increasing human resource capacity through continuous training, and implementing regular monitoring and evaluation systems. By adopting these recommendations, it is expected that information technology governance at Indonesia's One-Door Investment and Integrated Services Institution can be optimized to support the achievement of organizational goals better and improve public services for the citizens.