Strategic Focus: 10 Essential Technologies For Risk Management In 2024

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Executive Summary

This report examines 10 essential risk management technologies for 2024, providing a thorough analysis of their maturity, innovation and business impact. Key trends of advanced analytics, AI and machine learning are transforming risk management practices through accelerated innovation. Aimed at equipping organizations with strategic insights, this report guides risk managers and executives in identifying and allocating resources towards technologies that not only promise significant business impact but also align with broader growth strategies and risk management objectives. Technology decision-makers can use this report to identify new technologies for pilot projects and to develop technology strategy plans. Risk-averse firms should focus on technologies with proven business value that are in the established phase of the technology life cycle. Innovators and early adopters should take note of the pioneering technologies.

Table of contents

Technology transformation and innovation in the risk function
Current trends in supply-side innovation of risk management technologies
10 most impactful technologies for risk management in 2024
Launched technologies with high business impact potential
Pioneering technologies with fast-growing business impact
Mature technologies with contending business impact
Established software solutions with sustainable business impact

Table of figures

Figure 1. Risk management digital solutions definitions
Figure 2. Essential risk management technologies matrix 2024

About the authors

Christine O'Donnell

Industry Analyst
Christine is an Industry Analyst in the Verdantix Risk Management practice. Her current research agenda focuses on reputational risk, third-party risk, ESG risk, GRC solutions and regulatory change. Prior to joining Verdantix, Christine worked at Gartner, where she specialized in organizational design and change management. Christine holds a first-class BSc in Geography from the University of Birmingham.

Bill Pennington

VP Research, EHS & Risk Management
Bill is the VP Research for the Verdantix EHS & Risk Management practices. His current agenda focuses on understanding the evolution of EHS and enterprise risk management, evaluating emerging strategic risks and benchmarking technology buyers’ budgets, priorities and preferences globally.

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