current
Global Polycrisis Deepens
The world is experiencing an interconnected set of crises with increasing impact on daily life, demanding coordinated responses.
Timeframe
immediate
Subcategories
Impact areas
Detailed Analysis
The 2024 AXA Future Risks Report highlights a deepening global polycrisis, characterized by interconnected risks that are increasingly impacting daily life. This sense of vulnerability is pervasive, with 87% of experts believing the world is more vulnerable than five years ago. The report emphasizes the growing complexity of managing these interconnected challenges, demanding a shift towards more comprehensive and collaborative approaches.
Context Signals
The report highlights the ongoing crisis in the Middle East, the continuing conflict in Ukraine, and trade tensions between the US and China as contributing factors.
The CrowdStrike outage is cited as an example of global vulnerability to cybersecurity risks.
The report notes a rise in social and geopolitical risks, particularly in a major election year.
Edge
The increasing interconnectedness of risks may lead to unexpected cascading effects, requiring organizations to develop more agile and adaptive risk management strategies.
The polycrisis may accelerate the shift towards more localized and regionalized approaches to problem-solving, challenging the effectiveness of global institutions.
The heightened sense of vulnerability could drive demand for new insurance products and services that address interconnected risks.
