Understanding the technology risks landscape

The emerging technologies of the Fourth Industrial Revolution (4IR) will inevitably transform the world in many ways – some that are desirable and others that are not. The extent to which the benefits are maximized and the risks mitigated will depend on the quality of governance – the rules, norms, standards, incentives, institutions, and other mechanisms that shape the development and deployment of each particular technology.

Too often the debate about emerging technologies takes place at the extremes of possible responses: among those who focus intently on the potential gains and others who dwell on the potential dangers. The real challenge lies in navigating between these two poles: building understanding and awareness of the trade-offs and tensions we face, and making informed decisions about how to proceed. This task is becoming more pressing as technological change deepens and accelerates, and as we become more aware of the lagged societal, political and even geopolitical impact of earlier waves of innovation.

This chapter highlights the particular challenges involved in creating governance regimes for fast-moving technologies, and then summarizes the key results of this year’s Global Risks Perception Survey (GRPS) special module on emerging technology. The chapter concludes with a discussion of the profound changes that new technologies will entail for businesses and of the cascading effects these changes may have on