A major shift in global risk priorities has emerged as cyber threats and artificial intelligence are identified among the most significant risks facing businesses worldwide. The findings highlight growing concern among corporate leaders over digital disruption, operational resilience, and governance, signalling a recalibration of boardroom strategies across industries and geographies.

Cyber incidents continue to rank as the leading business risk globally, driven by ransomware, data breaches, and system outages that can halt operations within hours. Artificial intelligence has also risen sharply as a perceived risk, reflecting concerns around misuse, regulatory uncertainty, and unintended consequences of rapid deployment.

Executives report heightened exposure across supply chains, critical infrastructure, and financial systems, where digital dependency has intensified. The assessment points to a convergence of cyber and AI risks, with AI increasingly used both as a defensive tool and as an attack vector. These risks are now viewed as strategic, not technical, demanding board-level oversight and enterprise-wide response frameworks.

The growing prominence of cyber and AI risks reflects a broader transformation in how value is created and protected in the global economy. As businesses accelerate digitalisation, cloud adoption, and automation, their exposure to technology-driven disruptions has increased in parallel.

Cyber threats have evolved from isolated IT issues into systemic risks capable of triggering financial losses, regulatory penalties, and reputational damage. At the same time, AI adoption has surged across sectors, from finance and manufacturing to healthcare and retail, often outpacing governance structures.

Geopolitical tensions, remote work, and increasingly sophisticated threat actors have further amplified vulnerabilities. In this environment, technology risk is deeply intertwined with operational, legal, and strategic risk, forcing organisations to rethink resilience, accountability, and long-term investment priorities.

Risk and insurance experts warn that cyber incidents now represent a leading cause of business interruption, surpassing traditional physical risks in many sectors. Industry leaders note that the integration of AI into core processes introduces new layers of complexity, particularly when systems operate autonomously or rely on opaque decision models.

Executives have highlighted the challenge of balancing innovation with control, stressing that AI governance must evolve alongside deployment. Analysts observe that boards are increasingly demanding clearer accountability for digital risks, including defined ownership, testing regimes, and escalation pathways.

There is also growing consensus that cyber and AI risks cannot be fully mitigated through technology alone. Experts emphasise the role of organisational culture, employee awareness, and cross-functional coordination in reducing exposure and improving response readiness.

For businesses, the elevation of cyber and AI risks underscores the need to embed digital risk management into core strategy rather than treating it as a compliance function. Companies may need to increase investment in resilience, incident response, and governance frameworks.

Investors are likely to scrutinise how organisations manage technology risk, particularly in regulated sectors and critical infrastructure. For policymakers, the findings reinforce calls for clearer AI regulation, cybersecurity standards, and cross-border cooperation. Consumers, meanwhile, face growing exposure as digital services underpin daily life, making trust, data protection, and system reliability central to economic stability.

Looking ahead, decision-makers will closely watch how regulatory frameworks evolve and whether organisations can keep pace with the speed of technological change. The ability to integrate AI safely while strengthening cyber resilience will be a defining test for corporate leadership. Those that fail to adapt risk operational disruption, regulatory backlash, and loss of stakeholder trust.

Source & Date

Source: Allianz Risk Barometer
Date: February 2026