On Wall Street, Software and Risk Intelligence

Regular readers of my blog will know that I wear two hats in my professional life these days – one as the Director of Sales with Clarip and another as a former professor of constitutional law.  However, my very first job out of graduate school, over 2 decades ago, was actually on Wall Street with one of the major investment banks.

Although I realized quite early on that “high finance” was not to be my calling, I was able to learn and harness a number of professional lessons to which I refer to this day.  Paramount amongst these lessons is the difference between risk and uncertainty.  Nothing scares traders, investors, and shareholders more than uncertainty, for it is nearly impossible to quantify in monetary terms.  Risk, however, is part of the natural order of finance, and of business in general – challenging but controllable.  As the old notion says, “one can apply dollars and cents to risk but not to uncertainty.”

I mention this because of Clarip’s focus upon “risk intelligence,” and its application to nearly EVERY business today.  Every business – from the “mom and pop” to the Fortune 50 – uses software today to achieve its goals.  From the complex to the mundane, software is such a part of our every day existence that few people actually realize the inherent dangers that come with software.  For, as my colleague notes, “nobody builds software from the ground up these days, but rather software is built upon software, which is built upon more software.”  What does this have to do with risk, you may ask?

Software, by its very nature, collects data, and the software upon which the aforementioned software is built, collects EVEN MORE DATA.  Think of Legos – one piece is built upon another piece, which is built upon yet another piece, and so on.  As it relates to business, software is collecting so much data that few people can tell you the “risks” of this practice.  Clarip is changing this!

Clarip is an AI based data, privacy and consent management platform that can access the “risk points” in your “public facing assets,” such as your website and privacy and disclosure statements.  From beacons and trackers to 3^rd party cookies, Clarip’s patent-pending technology is there to tell you the “risk points” in software.

As EVERY company uses software, and ALL software collects data, the answer is “risk intelligence” and for that, I invite you to visit our website www.clarip.com.  To mitigate risk, one must have intelligence and Clarip is there to do just that.

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Are you ready for the new CA privacy law? Start preparing compliance efforts with Clarip for the California Consumer Privacy Act. Enforcement starts January 1, 2020 so better start planning funding in your 2019 budget now.