Cyber security top of mind for WEF elite

Mr. Trump comes to Davos A chance to mix business with pressure on violent extremism

However, experts argued the relative strength of the global economy - economic risks featured less prominently in this year's survey compared to previous years - offers world leaders a "golden opportunity" to focus on tackling the systemic and environmental risks the world faces. The survey showed that 93% of respondents anticipate that frictions over politics or economics are expected to worsen among the major powers. The survey of 1,000 experts found nearly 59 percent think the world faces mounting risks, while only 7 percent believed risks were lessening. For example, civil unrest means there is a real possibility of new wars, and the loss of biodiversity in some regions is a serious problem.

The annual survey of some 1,000 experts and decision-makers from around the world showed that 93 percent expect a worsening of political or economic confrontations between major powers, while almost 80 percent believe that risks of state-on-state military conflict will be higher in 2018 than in 2017.

Alongside the pressing dangers of changes to the world's climate and natural systems, risk experts also reported a surge in geopolitical concerns, with 93 per cent saying they expect political or economic confrontations between major powers to worsen and nearly 80 per cent expecting an increase in risk associated with war between global powers.

Along with extreme weather and natural disasters, other environmental threats near the top of the ranking include a failure to manage climate change and biodiversity loss. Extreme weather and natural disasters score highly in both the categories.

"A widening economic recovery presents us with an opportunity that we can not afford to squander, to tackle the fractures that we have allowed to weaken the world's institutions, societies and environment", saya professor Klaus Schwab, founder and executive chairman of the WEF, in a statement.

WEF founder Klaus Schwab, in the report's preface, didn't address this criticism head-on, but said the forum aims to support change for the better of humanity by encouraging cooperation between governments and the private and charitable sectors.

The WEF also said geopolitical tensions are fanning an increase in the scale and sophistication of cyber attacks, and suggests greater investment in prevention and cyber security is needed. At the same time cyber exposure is growing in companies and governments. Almost 80 per cent think risks associated with "state-on-state military conflict or incursion" and "regional conflicts drawing in major powers" will be higher than in years past.

Aside from suffering disruptions, organisations have also suffered huge losses as a result of persistent cyber attacks. Sudden and dramatic breakdowns - future shocks - become more likely.

The Global Risks Report highlighted the top ten risks in terms of their potential impact, with weapons of mass destruction heading the list. "Environmental risks, together with a growing vulnerability to other risks, are now seriously threatening the foundation of most of our commons".

"Unfortunately we now observe a "too-little-too-late" response by governments and organisations to key trends such as climate change", said Ms Martin.

"It's not yet too late to shape a more resilient tomorrow, but we need to act with a stronger sense of urgency in order to avoid potential system collapse", Zurich Insurance Group's Martin urged.

The World Economic Forum (WEF) has confirmed "experts are preparing another year of heightened risk".

Much like Trump who, said White House press secretary Sarah Sanders in a statement on Tuesday, "looks forward to promoting his policies to strengthen American businesses, American industries, and American workers", Modi will invite global businesses to invest in India and offer it as a greenfield FDI destination.

"Ultimately, we are rapidly moving towards an age dominated by connectivity and smart devices - with the Internet of Things swiftly becoming as widespread as radio or TV - giving cyber criminals an". Cyber risks put the regulatory frameworks under pressure as they to adapt to these new high frequency and high risk economic threats, ' he adds.

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