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The Future of Risk
New game, new rules
The risk landscape is rapidly changing with daily headlines bringing new reminders that the future is here and it is not showing signs of slowing down. We have entered the fourth industrial revolution, enabled by technology and driven by constant disruption. In the past, risk management was often an exercise implemented as a result of fear and avoidance, with organisations focused primarily on completing necessary, compliance-driven activities. This is changing with many leaders now viewing risk in terms of their potential to create value and drive performance.
Key takeouts from this report
We believe that risk and performance are more tightly intertwined than ever before. These are New Games with New Rules that require you to anticipate the unknown and recognise the opportunity to use risk to you benefit. So what should leaders prepare for?
This report profiles 10 trends that have the potential to significantly alter the risk landscape for organisations around the world and change how they respond to and manage risk.
1. Cognitive technologies augment human decision-making
2. Controls become pervasive
3. Behavioural science informs risk insights
4. Vigilance and resilience complement prevention as
5. Risk transfer broadens in scope and application
6. Innovation leads, regulation follows
7. The networked economy demands collective risk management
8. Disruption dominates the executive agenda
9. Provide cyber assurance services
10. Reputation risks accelerate and amplify
How can Deloitte help
Organisations need to explore drivers, opportunities, threats and real-world examples for each trend. And ask themselves: if their organisations will be able to harness these trends to be even stronger, more resilient?
Contact us to discuss how you can better prepare for what lies ahead. We can help you identify ways for your organisation to manage risk, create value and ultimately power your performance.