Below the Cloud, Under the Radar

Between mobile devices, social media, biometrics and nanotech, the process of trying to predict the next technological trend can be downright overwhelming. But one advancement that most agree on - and many use already - is cloud computing. Many believe this will not just be the next big thing but a true revolution of computational power and data storage. However, it is not all upside. Far from it in fact, with nearly half (45%) of all IT professionals saying that the risks of cloud computing outweigh the benefits, according to the first annual "ISACA IT Risk/Reward Barmometer" survey. Furthermore, only 10% of organizations plan to use the cloud for mission-critical IT services while a full 26% do not plan to use it at all. "The cloud represents a major change in how computing resources will be utilized, so it's not surprising that IT professional have concerns," said Robert Stroud of ISACA. "But risk and value are two sides of the same coin. If cloud computing is treated as a major governance initiative...it has the potential to yield benefits that can equal or outweigh the risks." Risk managers will likely always remain behind their more daring IT counterparts when it comes to embracing new technology, but given that even IT personnel still have fears, risk managers are right to be apprehensive.