Key findings for 2024

1. Regulatory risks
   • The most significant change is the rapid increase in concern about regulatory risks. In 2024, 37% of respondents identified them as the main risk, a significant increase from 7% in 2023. This increase is likely due to rapid technological development and an increased focus on ESG (environmental, social and governance) factors, which have a strong regulatory element.
2. Technological changes and developments
   • Technological risks have also moved significantly up the priority list in 2024. In 2023, only 4% of respondents mentioned them as a significant risk, compared to 23% in 2024. CEOs are particularly concerned about the speed of technological change.
3. Supply chain risks
   • Supply chain risk has moved to second place in the ranking, highlighting the continued vulnerability of global supply chains that was exposed during the COVID-19 pandemic. This shift is due to incidents such as the attacks on ships in the Gulf of Aden disrupting global logistics.
4. Geopolitical tensions
   • Geopolitical risks have also increased and are now in third place. These increasing tensions are linked to the ongoing war in Ukraine and conflicts in the Middle East.
5. Cyber risks
   • Cyber risks, which were ranked second in 2023, have dropped to fifth place. This decline may be due to businesses preparing better for cyber attacks or paying less attention to them compared to other rising risks.
6. Environmental risks
   • Environmental risks saw the largest decline, from a significant risk in 2023 to ninth place in 2024. This decline may reflect changes in business priorities in the context of other more immediate risks.

 

Comparison with 2023 result

• Regulatory Risk: Concerns increased from 7% in 2023 to 37% in 2024, the largest increase for a single risk in three years.
• Technology risks: This factor moved from 4% to 23%, reflecting the increased pressure on businesses to adapt to rapid technological advances.
• Cyber risks: The significant drop from 34% in 2023 to 24% in 2024 shows that businesses may be more confident in their defences against cyber threats.
• Environmental risks: This factor has seen a decline from a significant risk in 2023 to a less significant risk in 2024, which may be due to a focus on other, more pressing risks.

The study shows that the risk landscape is constantly changing and organizations must be prepared to adapt to these changes. Adopting an 'anti-fragility' approach can help businesses not only survive but thrive in a time of constant uncertainty and change. It is important to see risk as an opportunity for growth and innovation, not just as a threat.