Global business challenged by rapid emergence of a new age of competition

Global business leaders are facing mounting risks, as deepening geopolitical divides, along with growing technological and societal challenges, are expected to continue to shape the business landscape over the next 12 months. This is according to senior leaders at Zurich Insurance Group (Zurich) and Marsh, commenting on findings of the World Economic Forum’s Global Risks Report 2026, released today. Zurich and Marsh are strategic partners of the World Economic Forum and members of its Global Risks Advisory Board.

“Deepening divisions are at the center of the societal risks we all now face, from social fragmentation and inequality, to declining health and wellbeing. Despite the growing severity of these global risks, major governments are moving away from many established frameworks designed to tackle our shared challenges. As a result, divided societies are being driven closer to the brink of social instability and increased conflict.”

Andrew George, President, Specialty, Marsh Risk

In the longer term, the report’s findings underline the emergence of a new age of global competition, with all 33 risks – except geoeconomic confrontation – predicted to increase in severity by business leaders over the next 10 years. According to the report, 57% of respondents predict a turbulent or stormy outlook in the next decade. The 10-year outlook is strongly dominated by environmental and technological risks.

“Business leaders in major economies are deeply worried about pensions and public health. These gaps threaten both workforce wellbeing and social stability. Yet, it’s striking that societal risks – like declining health, lack of public infrastructure and social protections – barely register in the 10-year risk outlook, even though their effects are already reshaping our world. If we don’t act with urgency and collaboration, we risk ignoring the very threats that could define our future.”

Alison Martin, CEO Life, Health and Bank Distribution, Zurich

According to the Report, advancements in artificial intelligence (AI) and quantum computing will greatly impact labor markets, societal structures, infrastructure and geopolitics, and may contribute to widening global economic gaps. Critical infrastructure – exposed to various threats, from severe weather to the cutting of undersea cables or the disruption of satellites – will also require substantial investment for modernization and building resilience.

“Despite extreme weather, cyberattacks and geopolitical conflicts posing escalating threats, disruptions to critical infrastructure ranked just 23rd among global risks for the next decade. This is a dangerous oversight. From power grids strained by record heat to coastal cities at risk from rising seas, we rely on systems that are underprepared and underfunded. When infrastructure fails, everything else is at risk. We must recognize how interconnected these threats are and invest now to strengthen resilience before the next crisis hits.

Peter Giger, Group Chief Risk Officer, Zurich

“Advancements in AI and quantum computing are rapidly reshaping labor markets and geopolitics, with profound implications that will revolutionize individuals’ lives, enhance our health and prosperity and shape the future of nations. As automation and quantum breakthroughs accelerate, government and business must work together to address the challenges created by role redundancy, economic concentration, and the potential for systemic disruptions in critical infrastructure and digital trust.”

Andrew George, President, Specialty, Marsh Risk

Assessoria de Imprensa Zurich