risks
Image credit: Stock

Frost & Sullivan has released a new report which helps businesses understand the impact of future risks through short, medium and long terms and equip them to act on clear growth opportunities.

The report Global Future Risks—Future-proofing Your Strategies, 2030 highlights over 80 growth opportunities arising from 21 risks and helps policymakers, businesses and individuals to take immediate tactical and strategic actions and draw plans to lower impact.

Murali Krishnan, Visionary Innovation Group Senior Industry Analyst at Frost & Sullivan, said: “Risks are now increasingly interconnected, which, if amplified, can trigger a ripple effect across industries, regions, and diverse stakeholder groups. Therefore, mitigating them will involve measures to quantify relevant risks, estimate the probability of occurrence and the adoption of a cohesive, interdisciplinary, and multipronged approach.

Read more about:
Cybersecurity
Frost & Sullivan

“With an estimated 200 billion connected devices by 2030, the risk of sophisticated cyberattacks will escalate. Therefore, companies should invest in future-casting tools that help identify the impact of such risks to their business, thereby detecting vulnerabilities and avoiding disruptions.”

Some of the short-, mid- and long-term risks identified are:

Short-term risks

  • Privacy and disinformation risks
  • Rise of infectious diseases
  • Water crisis

Mid-term risks

  • Urbanisation
  • Climate change risks

Long-term risks

  • Artificial intelligence (AI) as a threat: 
  • National identity crisis

To learn about how the world can address these risks, click here.

“Over 40 million Americans are at risk of flooding from rivers, nearly 300,000 have lost their lives to the COVID pandemic, and close to $1 billion in costs will be borne annually by economies as they become victims to cyberattacks. The stakes are high, claiming both lives and resources. Businesses must look to invest in early warning systems that help future-proof them against the known and the unknown. Understanding risks and its levers can become a growth opportunity if used as a tool to create value,” noted Archana Vidyasekar, Visionary Innovation Group Research Director at Frost & Sullivan.