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25/06/2024 · 5 minute read
Discover how tech companies are adapting to economic challenges through strategic cost reduction, risk retention reevaluation, and workforce restructuring.
Out of the 24 total risks covered in this study, 8 are seen as highly concerning by over half of the tech companies surveyed.
Among these, data security and privacy, regulatory compliance, AI design failure and AI usage or oversight error stand out as the four risks that are both highly concerning today and likely to be growing concerns for most companies over the next few years.
Learn about the escalating concerns over data security, privacy, and the evolving risks associated with AI development and adoption.
As this complex constellation of organizations, risk stakeholders, and growth strategies continues to evolve — for instance, through the increasing usage of AI technologies — tech companies will continue to face an increasing velocity of risk.
81% investing in or leveraging AI in one or more ways
*Note: 3% selecting "prefer not to say" not shown in chart
Gain insights into innovative risk management strategies being employed to navigate through economic pressures and insurance market challenges.
As the technology sector stands at a crossroads, seeking innovative solutions to navigate these turbulent times, this study arms you with the knowledge and foresight needed to turn challenges into opportunities for growth and resilience. Whether you're a CEO, risk manager, or tech enthusiast, the insights shared in this study are invaluable for fortifying your risk management strategies and building trust with key stakeholders.
Senior Account Executive, FINPRO – Corporate
Growth Leader, Cyber
Australia
Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983)(“Marsh”) arrange the insurance and is not the insurer.
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Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. Any modelling, analytics, or projections are subject to inherent uncertainty, and any analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change. LCPA 24/267