Singapore organisations are at the forefront of using artificial intelligence (AI) to monitor emerging risks, according to a global survey by FTI Consulting. The study, which included 100 Singapore respondents among 1,100 legal decision-makers worldwide, found that 62% of Singapore organisations employ AI-enabled monitoring of external signals, compared to 46% globally. Additionally, 64% use automated alerts, surpassing the global average of 53%.
Despite these advancements, 46% of Singapore respondents reported that slow information flow hampers their ability to prioritise when multiple serious issues arise, a concern shared by only 33% globally. This highlights a significant challenge in crisis management, where timely information is crucial.
The survey, titled “Steady Advisers for an Unsteady Age,” underscores the evolving role of general counsel in crisis management. In Singapore, 75% of respondents prefer early escalation of issues, even if they later prove manageable. This proactive approach contrasts with the global trend, where over 80% of organisations delay seeking external crisis support until risks have escalated.
Steven H. Gunby, CEO of FTI Consulting, emphasised the importance of early detection and expert collaboration in crisis management. “A written plan matters, but real preparedness means recognising the signals early,” he stated.
The report suggests that whilst Singapore is ahead in adopting technology for risk detection, the speed of information delivery remains a critical area for improvement. As organisations navigate an increasingly complex risk landscape, balancing early action with the risk of false alarms remains a delicate task.
