ASK A RISK MANAGEMENT FUTURIST: WHAT’S THE FUTURE OF RISK?

How can risk management futurists help organizations? And why are they enjoying such popularity as of late as keynote speakers? On the one hand, it bears reminding that these industry experts help anticipate emerging risks and prepare effective responses. On the other, it’s worth keeping in mind that risk management futurists also work on projects such as:

• Analyzing data and trends to forecast future risks. You’ll often find risk management futurists looking at historical data, current trajectories, and subject matter expertise to determine the likelihood and potential impact of key risks materializing over time.
• Challenging assumptions about risks and questioning conventional wisdom about risks to uncover blind spots and ensure important risks are not overlooked or underestimated.
• Developing risk scenarios and responses and constructing stories about how the future may unfold in a risky, uncertain way. Sample scenarios are then used to devise strategic responses the organization could implement if such a future came to pass.

• Evaluating new technologies for emerging risks. As technologies like AI, biotech, and autonomous vehicles advance, futurists review how the technologies themselves or their applications could introduce new risks and explore how to get ahead of those challenges.

• Shaping risk management strategy by providing insights and recommendations that inform an organization’s vision, priorities, and plans to make them forward-looking.

• Educating teams about upcoming challenges on the horizon through speaking, writing, and conducting workshops to ensure the organization is vigilant and ready to respond.

• Guiding innovations, as risk management futurists futurists can advise new tools, partnerships, and risk mitigation techniques tailored to the emerging risks facing an organization.

• Influencing organizational culture. By promoting a future orientation, thought leaders help strengthen a culture where emerging risks are proactively identified, openly discussed, and strategically addressed.

Or, to put it somewhat bluntly: Risk management futurists take a long-term, future-focused view of threats and uncertainties to help organizations anticipate risks, prepare innovative responses, and make their risk strategy forward-looking – which can give firm a competitive advantage in a fast-changing, complex market landscape.