In spite of the promises of emerging technologies and tools, finance leaders are struggling to manage risk effectively with data, and many rate their own ability to manage and monitor risk as particularly challenging. Overall, most finance leaders believe their own efforts to manage, monitor, and predict risk pose a moderate to high risk to their businesses. Nearly half are still collecting data in silos and not sharing it across the company, although most are using data to manage risk today. Many finance leaders see promise in automation, the use of credit reports, data, and analytics to manage risk, yet most respondents currently rate themselves as "low" in sophistication, or they do not use these tools at all. It's clear that finance teams are still in the beginning stages of implementing emerging technologies, tools, and data sources to manage risk.
Last year's gathering of the G-20 finance ministers in Chengdu, China, issued a statement opposing "all forms of protectionism." This time, early drafts of the finance ministers' statement have omitted such unequivocal language, which in the final version could be softened to refer to trade that is "open" and "fair," without the absolute opposition to import restrictions to benefit domestic workers.