As we look back over the last two decades, experience will provide some idea of what the next two decades have in store. However, of the world’s top 20 companies by market capitalisation at the end of 2005, only four will remain in the top 20 as we start 2025. To compete, organisations will need to continually escalate investment and improve their capabilities. Purpose must be clear and business models will evolve fuelled by further technological step changes. We will see a new dawn rising as we stand on the cusp of incredible times.

In this world, there will be little room for old ways of thinking, as new risks emerge, and new risk solutions are demanded.

Risk management is beneficial for organisations, with 95% of Chief Risk Officers polled by the World Economic Forum in October 2024 stating that an effective risk function provides a competitive organisational edge. The top three risks of concern they cited were Macroeconomic indicators, Cyber risk and criminal activity, and Regulatory changes, compliance, and enforcement. However, opinion on how much risk professionals currently inform strategic decision-making was varied. This calls into question whether existing approaches to managing risk and risk financing will be sufficient when navigating the future risk landscape. More work is required to boost the ability of risk professionals to play a convincing role in this context.

To develop a strategic voice and be heard, risk professionals will need to think and act differently, learn new knowledge, and build new skills. This Airmic Risk Forum provides a space to network, consider the top risks, and contemplate the future and the role of our profession as part of this. Come and join us!