Technological Risks

Reliance on advanced technology for data collection, analysis and storage presents significant risks. These include technological obsolescence, failures in cybersecurity systems and lock-in to software and hardware vendors.

Mitigation:

Implementing a continuous technology upgrade plan, along with robust cybersecurity protocols, will help minimize these risks. Additionally, establishing strong relationships with multiple vendors can reduce reliance on a single source of technology.

Technological Risks

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Competitive Risks

Financial Risks

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