The 2024 edition of the highly regarded World Economic Forum Global Risks Report has recently been released highlighting some significant changes to the global risk landscape since last year’s report.
The top five risks overall as identified by the survey, which is based upon the responses from over 11,000 business leaders in 113 economies, are:
- Extreme weather (66%)
- AI-generated misinformation and disinformation (53%)
- Societal and political polarization (46%)
- Cost-of-living crisis (42%)
- Cyber-attacks (39%)
One of the more interesting findings of the 124-page report relates to which risks are considered to be persistent or have dramatically changed rating since last year, a summary of which is provided by the following diagram:
The report also provides analysis of the top ten risks in both the short term (2 years) and long term (10 years) categories as follows:
The full report is available to view here.
Griffiths & Armour recommends that organisations pay particular attention to the above risks when reviewing their enterprise risk management strategy and associated risk assessments.
Griffiths & Armour can provide assistance by undertaking enterprise risk management and risk register reviews to assist organisations to manage and minimise risk. Guidance, template documentation and e-learning on enterprise risk management is also available within RMworks, our online risk management portal available to all clients.
To find out more about how we can help support your organisation, please get in touch.
