World
2023.07.30 16:48 GMT+8

Companies concerned about economic instability, AI risks: WEF

Updated 2023.07.30 16:48 GMT+8
Zhang Yuan

A man's silhouette in front of the World Economic Forum logo in Davos, Switzerland, January 19, 2020. /Markus Schreiber

Economic and political tensions are expected to cause significant global disruptions in the coming months, according to a new survey by the World Economic Forum (WEF). The survey polled 40 chief risk officers (CROs) from major multinational companies in sectors like technology, healthcare, and manufacturing.

A majority of the respondents expect continued volatility within and between major economies over the next six months. They have also cited concerns over macroeconomic indicators, supply chain disruptions, armed conflicts, and regulatory changes.

"CROs are facing a multitude of pressing concerns as they look to the remainder of 2023," said Ellissa Cavaciuti-Wishart, head of WEF's Global Risks Initiative. "Whilst continuing to grapple with rising costs and supply disruptions, organizations are increasingly faced with a number of ethical and societal risks, which are far more complex to navigate than regulatory compliance alone."

The poll also revealed growing concerns about risks related to artificial intelligence (AI) technologies. Seventy-five percent said the rapid development and deployment of AI poses reputational risks, and 90 percent called for accelerated AI regulation. Nearly half of the respondents support slowing or pausing AI development until the risks are better understood.

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