Tracking the Untrackable: Taking a Proactive Approach to Emerging Risk

Emerging risks can blindside organisations, leading to costly consequences and missed opportunities. Is your risk management strategy prepared to tackle the top emerging threats of 2024? Gartner defines emerging risks as those whose effects have not yet been substantially realised in the enterprise. They are further characterised by their unpredictable evolution, which can be rapid and/or nonlinear. Recognising and understanding the emerging risks facing your business is paramount to stay ahead of potentially damaging risk events — and mitigate against their consequences. This guide explores the top emerging risk trends, including the disruptive potential of generative AI, escalating climate and ESG risks, and the vulnerabilities associated with cloud concentration. It also examines the common challenges risk teams face in identifying emerging risks, such as lack of risk-aware culture, insufficient bandwidth, and inadequate technological resources.