“It’s the unknown and the unforeseen that will get you every time!” -#Futurist Jim Carroll
I’m in Paris this morning, and in just a few hours will spend time with the global risk & compliance division for a major global organization.
My focus? “The future of risk!” They’ve brought me in to get a future oriented looked at risks that do not yet exist, challenges that have yet to materialize, from products and ideas that they might not yet have brought to market.
In this era of accelerating change, the biggest risk going forward is that about by the unforeseen!
As a futurist who spends a relentless amount of time living in a different time zone, I can see a lot of new risk emerging all around us – it’s easy to spot if you know what you are looking for.
We are in an era in which organizations are faced with new risk, unforeseen risk, faster risk, more complex risk, extended risk, and the acceleration of risk!
- accelerated risk: as everything speeds up, risk happens faster, which leads to:
- the rapid emergence of new risk: we are in an era in which organizations are now subjected to the sudden arrival of new forms of risk which did not exist before.
- hyper-connectivity risk: the connectivity of the Internet of Things (IOT) leads to new forms of shared and hyperconnected risk
- partnership risk: organizations are struggling with skills issues, and need to partner faster. This leads to more complex – and faster – partnerships, which leads to new forms of partnership risk
- IP risk everywhere: because everyone is becoming a software company, intellectual property (IP) issues go through the roof!
- speed risk: organizations are focused on speed – agile is the new leadership focus. But moving faster requires that they take on more risk that must be managed in new and different ways.
- role risk: the issue of speed and agility is quite contrary to the risk minimization role that most organizations must manage, so there is a significant change in their role.
- regulatory risk: and then there is a regulatory mismatch
New risk? We are having to learn to manage it, minimize it, guard against it…