Economic Conditions, Adoption of Digital Technologies Are Top Concerns for Technology, Media and Telecommunications Organizations.
AI, robotics and other rapidly developing digital technologies. Changes in the geopolitical landscape. Shifting customer preferences and demographics. Record lows in unemployment, tightening labor markets and escalating competition for specialized talent. Cyber breaches on a massive scale. A strong U.S. dollar.
In this eighth annual survey, Protiviti and NC State University’s ERM Initiative report on the top risks on the minds of global boards of directors and executives. There are a number of notable changes for organizations in the Technology, Media and Telecommunications (TMT) industry group for 2020. Perhaps most noteworthy, economic conditions are the top global risk issue for the sector, after not ranking among the top five issues in 2019. For technology organizations especially, there is substantial uncertainty regarding the trajectory of market conditions in 2020, with the potential for economic downturn impacting markets and changing trade policies among numerous contributing factors creating a less than clear economic picture.