To the naked eye, the risk landscape in 2020 may not look that different from previous years, but according to a recent study, board members and c-suite executives recognize a slightly less risky business environment with different priorities this year than in 2019.

A study from NC State University's ERM Initiative and Protiviti, "Executive Perspectives on Top Risks for 2020," explores the global risks that are of major concern for boards and executives. From geopolitical worries to the rise of cyber threats and artificial intelligence, there are a number of concerns that remind organizational leaders of the risks that can either disrupt their operations or cause rapid damage to business models and reputations.

About the study

The study surveyed 1,063 board members and executives from across the globe, who were asked to rate the potential impact in 2020 from 30 specific risks on a scale of 1 (no impact at all) to 10 (extensive impact). The risks fall into one of three categories:

• Macroeconomic risks: Risks that are likely to affect an organization's growth.
• Strategic risks: These risks have the potential to affect the validity of an organization's strategy for pursuing growth opportunities.
• Operational risks: Risks that can affect key operations.

Findings from the study illuminate two themes that dominate the top global risks in 2020: technology and innovation, and talent and culture. "These two interrelated themes are especially relevant in the coming year as companies across the globe strive to strengthen their competitive position by advancing their digital maturity and embracing the transformative potential of technology," Pat Scott, executive vice president, global insurance program at Protiviti, said in the study's report.