Tech, geopolitics to climate changes: These are the top risks Indian businesses face today
Also Read: From Barclays to Citigroup, world's top bankers likely to return to COP28 Climate Summit in Dubai this year "The research illustrates significant shifts in risk perceptions and underscores the need for organisations to adapt their risk management strategies to address emerging and often unpredictable challenges more effectively. Indian business leaders feel the nature of risk has significantly changed from what it was a decade ago – and that risk will also look significantly different again a decade from now," the release said. - A clear comfort zone for most business leaders.
More than nine-in-10 (or 91 percent) of respondents found it easier to identify traditional risks compared to newer forms of risks. - Nearly half (or 48 percent) of all senior leaders consider data-related risks as a top cause for concern. This lends to the finding that new importance is being placed on technology and technology-related risks.
- A significant number of leaders are uncertain about the future. Nearly one-in-five leaders (or 19 percent) expressed apprehension about their ability to address future risks with the current data capabilities. Findings also showed that one's leadership position within a company drove their perception of risk.
As much as 48 percent of CEOs and MDs thought risk was ‘completely’ or ‘significantly’ different than it was 10 years ago; while 72 percent of CTOs said risk had changed ‘completely’ or ‘significantly’ in the same period. Also Read: SoftBankCEO Masayoshi Son makes bold prediction on artificial intelligence says, ‘AGI will be a reality in…’ But there is also some convergence of consensus. Among risks, 13 percent of CEOs and MDs see environmental risk as a top concern – up 3 percent from their
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