It’s less than a year since OpenAI released its (general) artificial intelligence (AI) app, ChatGPT. Since then, it and its alternatives, have transformed how we do business. Such tech is known as generative AI, a form of machine learning. Trained on a vast database of natural language, it can create content, such as text, code, audio, images, […]
How does your business feel about artificial intelligence (AI)? Is it a friend, foe, or both, particularly when it comes to cybersecurity? A recent Australian conference heard SMEs need to embrace AI or be left behind. Workday’s Global Study of AI in business found that nine out of 10 businesses they surveyed used this technology to manage people, […]
Disease can take a huge toll on your livestock and farming operations. But did you know that on-farm strategies to prevent endemic diseases are inconsistent throughout Australia, particularly for cattle graziers? This article is your guide to risk management for livestock disease, not just for cattle. The increasing susceptibility to diseases Increasing trade and transport networks across […]
As a service-based business operator, you typically enjoy lower running costs than those selling products. Instead, you offer intangibles, such as skills, expertise and time. However, you’ll still need to manage your risk profile. Here’s how professional indemnity cover helps shield your business from potential risks and exposures. Service-Based Businesses’ Risks and Exposures Consider how […]
It’s important to keep the environmental risks of your building projects to a minimum. Here’s a checklist to help you manage these factors. Risk #1: Flooding Understand historical flood patterns and future flood maps. Keep an eye on expanding urbanisation. Buildings and sealed surfaces will impact natural water flows and create stormwater. , that could lead […]
As a business owner, you know how important it is to maintain the safety of your work fleet and have clear policies for staff using them. The cost of fleet accidents The social and economic costs of all road crashes in Australia are more than $30 billion each year, according to the Bureau of Infrastructure and […]
As a commercial property owner, it is important to understand your responsibilities and ensure that you have the right insurance coverage to protect your property against potential damages. Unoccupied buildings During the pandemic, commercial buildings were often unoccupied temporarily or indefinitely. That can still happen today with the soft tenancy market in some parts of […]
While fewer severe storms, such as cyclones and floods, are predicted for Australia’s east coast, according to global research published recently, those storms will be more intense. They may also head south along our coasts on both sides of the country, says CoastAdapt. While building codes, such as the wind-loading standards, are currently very effective in reducing losses […]
Mining has been one of Australia’s most profitable industries in 2022-23. Iron ore and coal mining, oil and gas extraction collectively account for $170 billion in total profits, notching three of the top 10 positions in the national list. But managing the risks involving people is one of the key concerns for businesses in this sector. Safe Work […]
Professional liability insurance – also known as professional indemnity cover – may not be compulsory for your sector. But it could be an investment in risk management worth considering. This cover offers protection against legal costs for businesses that give advice or services for a fee. Typically, accountants, architects, IT specialists, marketing consultants, lawyers, bankers, […]
