Cyber security remains as the biggest risk for businesses, alongside climate change and the pandemic

For the past two years, we have seen businesses taking a nosedive from the top. With many top notch companies and startups running brilliantly back at the end of 2019, the pandemic started to affect people and their lives which resulted in huge losses and bankruptcy for companies.

Businesses are always under some sort of threat. As the time is passing by, technologies are going to play a really important role in shaping up how these businesses would look like in the following couple of years. With security problems and climate change creating a bit of a stir for businesses, here is a list of the top threats and risks that would affect any business in 2022.

1. Cyber Security: It is seen that the security index for the past two years has been pretty low. We’ve seen many data breaches and companies are losing their sensitive data to hackers. These hackers attack their systems through malicious practices so that they can gain access to their data. Once they are in, they use that information to their advantage. The numbers of attacks have increased in the last two years. Probably because of the pandemic and the increase in the number of users.

2. Climate Change: This is also one of the biggest reasons why businesses are at a high risk. According to scientists, the air purity index all around the world is decreasing. Apart from the polluted air, the climate has started to change and they say that it is irreversible. The change in climate has brought many problems for businesses as tornados, thunderstorms and Earthquakes are now being experienced all around the world. According to an insurance company named Aon, the natural disaster cost in the world was found to be $238 billion in 2021.

3. Resignations: One of the biggest contributors to the risks column is resignations. Companies are not able to find employees who stick with them for a long time. Employees nowadays seem to have commitment issues and thus they keep on changing their companies every 6 months or so. This causes a lot of problems for companies as they are not able to settle themselves.

4. Pandemic: Since 2020, the world has been under a kind of quarantine. With people working remotely from their homes, public gatherings limited and no more places to go out, people are keeping themselves safe by avoiding unnecessary interactions. In 2022, the biggest challenge for companies would be to handle the rules and restrictions set by their respective governments so that they can continue to prosper.

Companies need to come up with optimal solutions for all of these problems because if they will just sit there and do nothing, they will find themselves standing in front of the gun barrel.

H/T: Allianz.

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