Canadian enterprise leaders see their high 4 near-term dangers as financial downturn, the labour and expertise scarcity, inflation and societal wealth and revenue issues (i.e., poverty and inequality), in line with new survey outcomes by the World Financial Discussion board and Marsh McLennan.
And whereas financial dangers high the listing, technological developments — notably issues about adversarial outcomes from AI applied sciences, and misinformation and disinformation — tie for fifth place as high dangers throughout Canada’s enterprise sectors.
“Canadian enterprise leaders are dealing with dangers which can be extra interconnected, unstable and sophisticated than ever earlier than,” Sarah Robson, president and CEO, Canada, for Marsh McLennan commented on the Executive Opinion Survey.
“In my conversations with Canadian CEOs and boards, they’re most involved concerning the persistent threats of recession, elevated inflation and technological dangers, together with the implications of synthetic intelligence,” Robson says.
“To efficiently handle these dangers, companies have to extra holistically perceive and put together for his or her potential affect on their operations and progress.”
With the menace, or perceived threat, of a recession nonetheless dominating public concern, financial dangers rank excessive within the survey outcomes.
The truth is, financial dangers overshadow local weather and cyber dangers as the highest enterprise concern globally.
Enterprise leaders in G20 nations cite the identical high three dangers over the close to time period (roughly the subsequent two years) as Canada.
However “as companies navigate an more and more complicated threat panorama, it’s important to broaden the main focus past financial dangers,” Peter Giger, group chief threat officer, Zurich Insurance coverage Group, says within the launch. “2024 is on monitor to be the warmest yr on report, and so the escalating impacts of local weather change should not be ignored.”
Plus, technological developments might help overcome some enterprise challenges associated to local weather change — for instance, higher wildfire and flood modelling — however additionally they carry with them some new threats, as evinced by the survey outcomes.
“By proactively figuring out and mitigating these numerous dangers, companies can construct resilience and thrive within the face of uncertainty,” Giger says. “Addressing these points head-on is not going to solely safeguard the operations but additionally place corporations for sustainable success sooner or later.”
Characteristic picture by iStock.com/Suriya Phosri
