The 11^th edition of the AXA’s Future Risks Report highlights the growing complexity of managing risks, making decisions and tackling challenges in a world marked by rapid technological advances and increasingly interconnected risks, from geopolitics to security to misinformation.

The Report is based on an annual survey asking 3,000 experts from 50 countries and a representative sample of 20,000 individuals from 15 countries to rank their top 10 emerging risks.

According to the survey, climate change remains the top concern of experts in every continent. 77% of the general public who selected this risk in their top five say they feel vulnerable to it in their everyday life, up from 73% in last year’s survey and tied for first place.

Another risk that is worrying more experts is geopolitical instability. It was ranked as the top risk by 16% of experts compared to 9% in 2023. The experts note that the increase is likely linked to the ongoing crisis in the Middle East, combined with the continuing conflict in Ukraine and a heightened global atmosphere of tensions, defiance and protectionism.

Cyber security falls to third place from second last year, but continues to be seen as a major threat. It featured in the top five risks of more individual experts. Concern about this risk is likely closely linked to geopolitical instability, alongside continued progress in the capabilities of artificial intelligence and increasing dependency on large providers, the report says.