Dataminr, has released ‘Building Business Value: Resilience in a Rapidly Evolving Global Environment’, a new survey-based report commissioned through Economist Impact that explores companies' value creation and resilience priorities.
The report finds that in an environment of unpredictable large-scale disruptions, resilience - defined by the report as the proactive capacity to absorb stress, protect assets, manage risks and seize opportunities - is the lynchpin for creating business value.
Three types of resilience emerged as essential for success: organizational, technological and operational, with more than 40 percent of global executives saying they are prioritizing these areas. The research revealed that when businesses proactively look for emerging risks, prepare for disruption, and implement operational flexibility, they outperform others.
The survey found that two of the most significant opportunities to create business value are the increased adoption of new technologies and environmental, social and governance (ESG) policies. 41 percent of respondents said that increased access to new and rapidly developing technologies like artificial intelligence (AI) provides the most significant opportunities to create value over the next three years. AI can add transformative capabilities to resilience strategies by processing data in real time across a vast and changing landscape - increasing the relevance and actionability of data used for critical business decisions.
Just over 41 percent of respondents prioritized the increased adoption of ESG policies within their corporate strategies. Leaders within the retail, financial services, and energy and utilities industries indicated that ESG policies are their main priority. ESG policies can bolster reputational resilience - aligning an organization's values to its actions, and helping it prepare for future operational and financial shocks. Reflecting this urgency, these respondents also said that effectively managing an ESG communications strategy was a top priority for building and protecting their brands.
600 business executives across Asia, Europe, and North America were surveyed for the report.