How can businesses effectively balance the need to adopt new technologies for innovation with the potential risks and challenges that come with rapid digital transformation?

Businesses can effectively balance the need to adopt new technologies for innovation by conducting thorough risk assessments to understand potential challenges. They should also invest in robust cybersecurity measures to protect against data breaches and other digital threats. It is essential for companies to provide ongoing training and support for employees to ensure they are equipped to utilize new technologies effectively. Additionally, businesses can mitigate risks by implementing a phased approach to digital transformation, allowing for adjustments and refinements along the way.