The impact of digital technologies on financial risk management and security of transport and agricultural enterprises
Year: 2025
Type: article
Abstract: The article examines the impact of digital technologies on financial risk management systems and the overall level of security of strategically important transport and agricultural enterprises in Ukraine. The author analyzes the key digital technologies that are being actively implemented in these sectors, including the Internet of Things (IoT) for asset monitoring, Big Data and predictive analytics for process optimization, artificial intelligence (AI) for decision automation, as well as cloud computing and integrated management systems (TMS, FMS, ERP) as the basis for a new digital infrastructure. It is found that digital technologies are not only a tool for increasing efficiency, but also a catalyst for new risks that were previously not inherent in the industry, and at the same time are a powerful modifier of traditional risks. The new financial risks include: significant technological investment risks associated with the high cost and rapid obsolescence of digital solutions; cyberfinancial risks, which include direct losses from attacks (theft of funds, ransom for data) and indirect losses from downtime and reputational damage; and risks associated with data processing, where compromise or distortion of information leads to incorrect management decisions with direct financial consequences. The impact of digitalization on the security of enterprises that are critical infrastructure is studied in detail. New types of threats are identified: targeted cyberattacks on traffic or agricultural machinery control systems, massive data leakage and compromise, unauthorized access to control systems through vulnerabilities, and risks spreading through the software supply chain from third-party contractors. It is emphasized that the level of cybersecurity in both industries is often insufficient and does not correspond to the scale of threats due to chronic underinvestment, acute shortage of qualified personnel, use of outdated infrastructure, and low awareness of cyber hygiene rules among staff. The author summarizes the systemic problems that impede the effective management of new risks, which include the following: insufficient integration of digital risks into existing corporate risk management systems, financial and human resources shortages, a significant backlog of the regulatory framework, difficulty in quantifying the potential impact of cyber incidents on financial performance, high interdependence of systems, which creates the risk of cascading failures, and a significant increase in threats in wartime. Based on the analysis, the author formulates the urgent need to develop and implement a comprehensive, proactive and integrated approach to financial risk management that would consider technological, operational and cyber risks as a single system.
Authors: Olena Shyshkina, Taras Boichuk, Dmytro Yevchuk
Institution: Chernihiv Polytechnic National University
Language: English
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4413061930