Top 14 Business Risk Predictions of 2023

Predictions, at best, are intelligent assumptions about the future. They provide guidance on how to prepare for risks and maximize opportunities.

There is no doubt that 2022 has been a year of disruption on many fronts. Cyberattacks, geopolitical crises, and the emergence of daring ransomware groups all contributed to the redefinition of business risks. Threat actors caused businesses to shut down and disrupted public infrastructure, making some national governments declare states of emergency. The Russia-Ukraine war also marked a new era of cyber warfare with far-reaching consequences.

For the first time, ransomware gangs publicly made their allegiances to nation-states, aligning themselves with the warring countries. This confirms the belief that many top threat groups, which frequently target businesses around the world with reckless abandon, are supported by nation-states. I wrote last year that “new ransomware gangs will spring up as proxy operatives for nation-state actors whose primary goal will be to wage economic cyber warfare”.

I made eight significant predictions for 2022. Throughout the year, to varying degrees, all eight predictions were fulfilled. To assess the accuracy of my predictions, I provided a prediction scorecard for the first quarter of the year. While global events shaped the threat landscape, the…