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Geographic and industry highlights
Our anonymous director survey reached respondents in North America, Europe, Middle East, Asia, and Latin America. We surveyed a wide range of industry groups as well, with statistically significant samples from the financial services and telecommunications sectors.
North America
| Risk | Percentage of respondents who cited risk |
|---|---|
| Cyber risk | 47% |
| Regulatory risk | 42% |
| Supply chain risk | 40% |
| Operational risk | 36% |
| Digital transformation risk | 34% |
38% have adopted new risk management practices to manage risks from competition from new rivals outside their industry (vs. 29% total)
44% say AI and robotics will create more compliance headaches for their company (vs. 51% total)
67% recommend compliance with “highest–common–denominator” regulations (vs. 73% total)
Europe
| Risk | Percentage of respondents who cited risk |
|---|---|
| Operational risk | 43% |
| Cyber risk | 39% |
| Supply chain risk | 37% |
| Regulatory risk | 35% |
| Financial risk | 33% |
14% have hired one or more board directors younger than 40 (vs. 22% total)
94% say they have gender–diverse boards (vs. 88% total)
Middle East
| Risk | Percentage of respondents who cited risk |
|---|---|
| Cyber risk | 50% |
| Regulatory risk | 43% |
| Digital transformation | 43% |
| Operational risk | 40% |
| Supply chain/Geopolitical | 33% |
63% have hired one or more directors with technology expertise (vs. 79% total)
40% say they have a board member responsible for risk (vs. 21% total)
33% say their board's risk committee has a mandate to oversee machines as well as people (vs. 43% total)
Asia
| Risk | Percentage of respondents who cited risk |
|---|---|
| Financial risk | 53% |
| Legislative risk | 38% |
| Supply chain risk | 42% |
| Cyber risk | 38% |
| Macroeconomic risk | 33% |
40% have hired one or more board directors younger than 40 (vs. 22% total)
44% of boards have discussed the challenges and opportunities of using robotics and AI (vs. 63% total)
29% bring in outside, independent experts to brief them on corporate governance best practices (vs. 52% total)
Latin America (indicative results)*
| Risk | Percentage of respondents who cited risk |
|---|---|
| Operational risk | 53% |
| Supply chain risk | 47% |
| Bribery/corruption risk | 47% |
| Legislative risk | 40% |
| Financial risk | 33% |
87% say their boards recommend compliance with “highest–common–denominator” regulations (vs. 73% total)
40% have formed a dedicated committee that oversees digital strategy (vs. 63% total)
53% have hired one or more directors with technology expertise (vs. 79% total)
* Indicative due to relatively low sample size
Top—cited risk by region

Financial services
| Risk | Percentage of respondents who cited risk |
|---|---|
| Operational risk | 37% |
| Cyber risk | 80% |
| Regulatory risk | 43% |
| Macroeconomic risk | 47% |
| Financial risk | 57% |
73% of boards regularly discuss “unknown unknowns” (vs. 61% total)
13% have hired one or more directors younger than 40 (vs. 22% total)
27% say their board's risk committee has a mandate to oversee machines as well as people (vs. 43% total)
Telecommunications
| Risk | Percentage of respondents who cited risk |
|---|---|
| Legislative risk | 40% |
| Cyber risk | 97% |
| Digital transformation risk | 37% |
| Macroeconomic risk | 50% |
| Financial risk | 40% |
80% have adopted new risk management practices to deal with cyber risk (vs. 65% total)
97% have formed a dedicated board committee that oversees digital strategy (vs. 63% total)
93% have discussed the challenges and opportunities of using robotics and AI (vs. 63% total)
