Digitalization soundbites: Episode 3 - Risk, Disputes and Tech Product Safety

Ask any senior business leader about their most important priorities and it’s likely that digitalization will be mentioned. Put simply, this means using new technology and data to cut costs, improve business processes or streamline customer experiences. The opportunities are great, but the risks are equally significant, and they need to be carefully managed to ensure that digitalization is a success. For many respondents of our survey, the risk of litigious and product safety related action, is a real concern. Globally, the shift in the ownership and responsibility of product risk is significantly impacting all businesses involved in manufacturing and supplying physical products. 56% of respondents told us increasing complexity made it challenging to verify the safety of their digital tech. We call it the ‘digital safety gap’. Partner James Hyde and Legal Director Peter Shervington discuss respondents’ views of the key risks around digitalization, their attitudes and approaches to resolving tech disputes, and tech product safety, now and in the future.