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Emerging Technologies and Risks: In Conversation with Bhavesh Bhagat

 

 

Could you please share with the student’s fraternity your professional experience and learning’s in IT Management and new Technologies? 

 

I am an Electronics Engineer and have done my MBA in Finance and Information Technology from US about 14 years ago. I started out in the Risk Management field and now I have been an entrepreneur for the past 12 years. We have multiple start-ups and on the technology front. I am also on the board of ISACA which is an Information Systems Audit and Control Association. It has around 1 lakh 15 thousand members across the globe. It is a body which makes sure that Information technology is safe, secure and well governed. So my role in the body is to make people aware of the emerging trends and technologies and help companies and professionals adopt and benefit from such technologies. How-ever, our company mainly focusses on Security, Risk Management, Corporate Governance, Compliance and Emerging Technologies. So be it Cloud Computing, Mobile Technology, Google Tools, Special Analytics, we create solutions for our customers and clients to meet their governance goals and compliances.

With new technology like big data Analytics and 3D Printing coming in this year, what will be the new uncharted risks and innovative governance strategies that would present itself with respect to these technologies? 

 Any new technology brings with it a lot of opportunity as well as risk. Hence, associations like the ISACA, IIA etc. essentially focus on these risks. My role as an emerging technology evangelist is to make sure that companies take maximum advantage of all these new technologies. With any new technology, there are some risks which are essentially going to evolve. For example, with Big Data, we do not know how privacy is going to be handled because the governments in US and Europe are grappling with issues in privacy and security. But on the technical side, these technologies are quite robust to use. On the other hand, on the legal and policy side, things are still evolving. So if a Big Data analytics is to be implemented, it depends how mature are the government policies and legalities are as well as how mature is the company in making decisions and how involved it is in making the technology work on the ground level. Based on all these things, the risks come into picture in various forms. 3-D Printing on the other hand is less mature as a technology as compared to a Big Data which is main stream. 3-D printing would gain momentum in the next couple of years. The risks in case of 3-D Printing are more on the intellectual property protection side be-cause people can print, clone and start copying things which may not be their ideas. One can-not track all of that and hence, one has to think on those terms. The advantages of 3-D Printing are in terms of medical devices and similar things which we can clone and produce. How-ever, the bigger thing right now is Internet Opting which is trying to use and keep everything connected to the social media. And now with almost every device being connected to the cloud, businesses and companies will have to think on how would they evolve in that sphere. So all the new technologies, be it Big Data, Internet Optics or Cloud Technology are here to stay and this is how IT is going to be consumed and evolved. It is going to be used as a utility or as a mass pervasive social tool rather than simply as an information tool. So companies will have to think as to how will they manage all the privacy and other risk related constraints along with implementing these new and evolving technologies. It also depends on the risk appetite of the company.

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Our Chairman Co Founder receives Top Honor in a 40 Under 40 Awards

EnCrisp LLC / Confident Governance Chairman and Co-Founder received top honor at a special ceremony “40 Under 40” for his accomplishments and perseverance as an Entrepreneur and business owner. Here is an excerpt from the interview that was published in a leading weekly:

Name:  Bhavesh C. Bhagat

Age:40

Title: Father, Angel Investor, Global Speaker and Expert on Entrepreneurship, Governance and Security

Company/Organization: ConfidentGovernance.com, EnCrisp, NextGenAngels

Professional accomplishment of which you are most proud: The proudest moment was when EnCrisp made it to Inc 500 as one of Washington's top fastest growing Tech companies in 2008/2009 inspite of the doom and gloom.  Constantly innovating to do the right things and making a strategic change when there needs to be one, our next moment came when I started our second Cloud Governance software company ConfidentGovernance.com which was awarded GEW50 by Kauffman foundation.  VA's CIT selected me as one of the fifty most promising entrepreneurs in the first ever CIT50 awards.

Most significant charity work/community involvement: Getting involved with Loudoun County in helping them launch the small business outreach efforts. Getting involved in Leesburg Elementary as a volunteer Father in the Watchdogs program and see the joy on kids face.  In India, supporting the cause of Physically Challenged people by helping “Prerna -  Inspiration" an annual event celebrating achievements of Physically challenged Indian folks organized by MS University in Vadodara, India. 

Personal background and family information: I grew up in Mumbai, India and spent first twenty five years of my life there as an avid Electrical Engineer and Music and Language student whose only goal was to come to the USA to pursue higher education because USA has the best higher education system in the world.  That was my dream then.  Fast forward another fifteen year now as a father of two joyful gifts from above, daughter Pushti (8) and son Brij (7) my dreams have evolved and my focus in life has shifted.  So has my title from being CEO to a Father first.  Having homes and offices on two continents around the world in North America (Leesburg, VA) and in Asia (Vadodara, India) gives me a truly unique perspective on business and family life across east and west.  I find the greener pastures of Leesburg, Potomac and the Catoctin Mountains in the backdrop a perfect place to rest and create new things.  Having travelled around the world, I can truly say from personal experience that I would not select anywhere but Leesburg to raise our family.

 Person you admire the most and why:Unknown Entrepreneur around the world who has yet not made it big yet who continues to push only for a dream. The secret to success is in the journey itself and in the struggles, dreams and perseverance of these common people who I admire most.  Essentially, every small business person who has the guts to go out there and create something against all odds and not be dependent on someone else.  Those are the folks I admire and I want to be one of them every day and hopefully inculcate those values in my children.

One piece of advice for other young professionals: The same I try to game myself every day and remind my kids to learn as they grow up - Persistence, Patience and Practice.  The three P's guiding the Path of the YogiEntrepreneur (my Twitter name @bbhagat)

Favorite app/program on your smart phone: Amazon