Technology as Risk

Technology is a source of risk. Technology is a risk not only because it often has unintended consequences, but also because accelerating technological change creates compound risks resulting from multiple interacting technologies. More importantly, a fast changing technological environment introduces additional risk because of the numerous social, economic, and political opportunities it creates, and because of the threats it facilitates. In a competitive world, taking advantage of these new opportunities, and protecting against emerging threats are constant battles not only for individuals, but also for businesses and governments. These risks are most pronounced in global communication, military, and banking systems, but no social institution is immune. Reduction of these risks should be a major concern for all social institutions. The undesirable consequences need to be dealt with before, not after they occur. There are numerous risk-reduction technologies that can be deployed to minimize risk while still maintaining the efficiencies created by efficiency-raising technologies.