How Gavin Grounds Uses Risk Management to Drive Innovation and Business Growth
How Gavin Grounds Uses Risk Management to Drive Innovation and Business Growth
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Why managing AI risk presents new challenges
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The difficult of using AI to improve risk management
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How to bring AI into managing risk
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Pros and cons of using AI to manage risks
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Benefits and opportunities for risk managers applying AI
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In this episode, we welcome Gavin Grounds, CEO and co-founder of Mercury Risk and Compliance, to share his expertise in risk management, innovation, and business strategy. Gavin's journey spans multiple continents and industries, from technology and cybersecurity to executive roles at Meta, Verizon, DXC, and HP. He explains how his diverse experiences shaped his approach to managing risk and navigating rapid change in the digital age.
We start by discussing Gavin's unique perspective on balancing passion with practicality. He reveals how his love for music has complemented his business endeavors and how embracing both creativity and logic has driven his success. He shares insights on the parallels between music and business, where both art and science meet to create meaningful outcomes.
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Gavin delves into the challenges of risk management, emphasizing the importance of resilience, curiosity, and adaptability. He discusses how risk should not always be reduced but managed for optimal returns, comparing this to risk management in other areas like credit and technology. His thoughts on risk versus reward challenge conventional approaches to cybersecurity, suggesting that finding the right balance can lead to innovation and growth.
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We also explore the role of metrics in shaping behavior within teams and organizations. Gavin critiques the traditional models of performance management and highlights how they often incentivize mediocrity instead of innovation. He offers alternative strategies for leaders to foster environments where calculated risk-taking is encouraged, and failure is seen as an opportunity for learning and growth.
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In the second half, we dive into the future of technology and AI in business. Gavin talks about the current landscape of AI, its potential to transform industries, and the fear surrounding its adoption. He argues for a more pragmatic approach, emphasizing the need to embrace AI while maintaining ethical standards and privacy considerations.
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Finally, Gavin shares actionable advice for leaders and entrepreneurs on building effective teams, setting clear expectations, and managing risk to achieve business goals. He stresses the importance of communication in managing expectations and ensuring alignment within teams.
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To reach Gavin Grounds, connect with him on LinkedIn at linkedin.com/in/gavingrounds. For marketing needs, visit nextgengrowth.com.
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