PwC study: Every second company wants risk management with AI
optimize
Düsseldorf (ots) –
– Cyber risks (48%) and inflation (43%) are considered the biggest risks faced
Companies will see exposure over the next 12 months.
– For 64%, generative AI represents an opportunity for their own organization
34% again a risk.
– 85% of German companies are confident about growth and
harmonize risk management (globally 90%).
– 51% of respondents say that preparing for
Technology investments, from the cloud to new technologies such as
GenAI, the most important trigger for a company is its risk landscape
to check.
German companies see cyber risks in the next twelve months (48%)
as the biggest threat to their organization, followed by inflation (43%),
digital and technological risks as well as geopolitical conflicts
41 percent each. At the same time, 64 percent of German companies see this
Generative AI as an opportunity for your own organization. 50 percent of those surveyed
want to work in artificial intelligence, machine in the next one to three years
Invest in learning and automation to manage risk. These are them
Results of the “Global Risk Survey 2023” by the auditing and
Consulting company PwC, for which 3,910 managers worldwide
various corporate areas such as risk management, finance, IT, operations
and Internal Audit were surveyed – around 270 of them from Germany.
Using risks as opportunities: Confidence among CEOs in Germany
Despite economically uncertain times and constant change, Germans see
Companies take risks not only as a threat, but also as an opportunity
Transformation, resilience and growth. “Companies can no longer afford it
afford to rely on a reactive approach that focuses first and foremost
focused on avoiding risks,” says Robert Paffen, Leader Risk
& Regulatory at PwC Germany, the results.
Managers in Germany are facing current challenges
more confident than survey participants from other countries. They evaluate something like this
the switch to renewable energies (58% vs. 53%)
Customer demand and preferences (54% vs. 46%) and new requirements
Workforce and skills (52% vs. 41%) as an opportunity rather than an opportunity
Risk.
Resilience and technology as drivers of risk management
A possible reason for the confidence: every second company (49%) has in
over the past twelve months in building a resilience team
Members from the areas of business continuity, cyber, crisis and
risk management and a third plan to do so in the next twelve
months to do. The measures are already showing positive effects
Collaboration within the organization.
They are also increasingly relying on technology and data analysis to reduce risk
steer. The majority (76%) use cyber security tools to contain IT
and cyber risks, while 55 percent use AI and machine learning
use automated risk assessment and response. According to the study
Companies review their risk landscape, especially when
Technology investments (51%) are pending, when introducing new products and
Services (48%) as well as in the development of corporate strategy and
with regular checks (43% each).
“The study shows that companies in Germany are able to take risks
Transform opportunities using, among other things, technology and data analytics
insert. Successful companies will not only face challenges in the future
but also have to actively look for ways to avoid risks
to take a calculated approach and take advantage of market opportunities,” says Marc Billeb, Leader Risk
& Regulatory, PwC Germany.
Closing the gap
While most companies have the ambition to be one stronger
There is a technology-based approach to risk management
Significant gap in skills and implementation: Only one in ten
Companies (10%) worldwide are already using this as part of their risk management
State-of-the-art technologies and advanced analysis methods or models
Risk prediction and continuously optimizes it. Many companies
are still in the initial and development phase
Technology/data maturity. Only 14% explore, according to the overall global results
the use of technology and existing data for risk management or
have just begun. Less than a quarter (24%) of all respondents
uses basic technological solutions and data analysis techniques for
risk management, but states that this is not yet fully integrated
are. 24% have established IT solutions and data analysis tools, these being
but not yet fully optimized.
Further information at http://pwc.de/globalrisksurvey
About the survey: The PwC Global Risk Survey 2023 is based on 3,910 responses
from CEOs, board members and executives from the risk areas
Management, Finance, IT, Operations and Internal Audit from 67 countries that support us
their assessments of the status and direction of risk management
communicated to your company. The survey responses come from a
Variety of industries and different company sizes, with over one
Quarter of companies with sales of more than $5 billion
comes from. Around 270 participants from Germany were surveyed. The survey was
from PwC Research, the Global Center of Excellence for market research,
carried out.
About PwC: PwC sees it as its mission to ensure social trust
build and solve important problems. More than 364,000 employees in 151
Countries contribute to this with high-quality, industry-specific services
in the areas of auditing, tax and business consulting.
The term PwC refers to the PwC network and/or one or more
of legally independent network companies. Further details below
http://www.pwc.com/structure.
Press contact:
Annika Lux
PwC Marketing & Communications
Tel.: +49 160 98490345
Email: mailto:[email protected]
Further material: http://presseportal.de/pm/8664/5672134
OTS: PwC Germany