CRO view: emerging risks in the age of AI

Risk.net’s latest survey of Asia-Pacific chief risk officers reveals how the risk agenda is shifting beyond market and credit volatility towards operational resilience, artificial intelligence governance and culture. 

Based on responses from more than 50 senior risk leaders, the report finds that operational risk has overtaken market and credit risk as the top anticipated threat in the 12 months ahead, while 52% of chief risk officers (CROs) say leveraging AI and machine learning is now their top priority for improving risk processes.

Without a mature risk culture, even the most sophisticated frameworks, metrics and governance structures cannot deliver effective risk management

Edzard Wesselink, managing director and partner, Boston Consulting Group

The report explores how banks and buy-side firms are strengthening stress-testing, early warning systems and governance frameworks as technology, third-party dependence and cyber risk reshape the CRO remit. It also examines the growing importance of risk culture as an enabler of effective governance in an increasingly digital, always-on financial system.

 

Download the report, CRO view: emerging risks in the age of AI

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