More than half of Chief Executive Officers will have a senior digital leader role in their staff by the end of 2015.

According to the 2014 CEO and Senior Executive Survey from Gartner Inc., by 2017, one-third of large enterprises engaging in digital business models and activities will also have a digital risk officer role or equivalent.

By 2020, 60 percent of digital businesses will have suffered major service failures due to the inability of the IT security team to manage digital risk.

 The convergence of IT, operational technology, the Internet of Things and physical security technologies will require a risk-based approach to governance and management, the report notes.

However, the duties of a DRO would be very different than a chief information security officer (CISO). A DRO would report to a senior executive role outside of IT, such as the chief risk officer, chief digital officer or chief operating officer. They will manage risk at an executive level, working directly with peers in legal, privacy, compliance, digital marketing, digital sales and digital operations, the survey says. Many CISOs may evolve into a DRO role, however, as the risk landscape expands. 

Read more at The Hindu Business Line here.