Chief Risk Officers Outlook

The Chief Risk Officers Outlook identifies macroeconomic instability, geopolitical tensions, and the rapid advancement of AI as primary threats to organizations in late 2023. Surveyed risk practitioners highlight high volatility in geoeconomic relations and financial conditions, with specific concerns regarding inflation, debt distress, and supply chain disruptions. The report emphasizes a significant regulatory gap in AI development, with a strong consensus among respondents for accelerated guardrails to prevent reputational and societal harms.

• Chief risk officers identify four predominant risks likely to severely impact their organizations in the latter half of 2023: macroeconomic indicators, pricing and supply disruptions of key inputs, armed conflicts or the use of weapons, and regulatory changes, compliance, and enforcement.
• Economic volatility is expected by over 85% of respondents, driven by stubborn core inflation and interest rates at their highest levels in approximately 15 years, which has increased debt-servicing costs for governments, businesses, and households.
• Geopolitical and geoeconomic relations are viewed as the most volatile area, with a majority of respondents anticipating global upheavals. This includes concerns over the war in Ukraine, US-China tensions, and the existence of approximately 110 armed conflicts globally.
• There is a critical gap between the pace of AI development and the ability to manage its risks; 90% of respondents advocate for the acceleration of regulations and guardrails.
• AI technologies are perceived as posing significant reputational risks to organizations, specifically regarding the breach of sensitive data, algorithmic bias, and the potential for malicious use such as disinformation or cyberattacks.
• Risk practitioners find ethical and societal risks more challenging to manage than regulatory compliance, noting that societal expectations can evolve rapidly and may conflict with existing laws.

APA

World Economic Forum (2023). Chief Risk Officers Outlook. https://www3.weforum.org/docs/WEF_Chief_Risk_Officers_Outlook_2023.pdf

Chicago

World Economic Forum. Chief Risk Officers Outlook. 2023. https://www3.weforum.org/docs/WEF_Chief_Risk_Officers_Outlook_2023.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=Chief Risk Officers Outlook |date=July 2023 |url=https://www3.weforum.org/docs/WEF_Chief_Risk_Officers_Outlook_2023.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2023chief, author = {{World Economic Forum}}, title = {{Chief Risk Officers Outlook}}, institution = {World Economic Forum}, year = {2023}, month = jul, url = {https://www3.weforum.org/docs/WEF_Chief_Risk_Officers_Outlook_2023.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }