The advent of the Fourth Industrial Revolution is creating new opportunities, but it is also fundamentally changing the risk environment for companies. Strategic risks, such as cyber activism and challenges relating to data privacy, are growing at an unprecedented rate, and this creates a new range of potential unintended consequences across corporate ecosystems.
This rate of change may be too fast for companies to deal with. The survey shows that risks are materialising into significant impacts, but companies are mainly taking a reactive approach to both risk management and resiliency. This reactivity typically exists even when a company has experienced a type of risk before. For example, of the 18 scenarios tested in this survey, 86% of companies across the G20 have experienced at least one over the last 12 months. These scenarios have lowered turnover by an average of 5.1% for all companies overall, 5.7% for the 86% of companies impacted and represents a staggering loss of USD$81.6 billion for just those we researched.Resilience Barometer 2019 (373 downloads)