A recent FTI Consulting-sponsored survey by Economist Impact reveals significant crisis preparedness gaps among organizations, with 30% of general counsels (GCs) identifying reputational and operational crises as major risks. 600 legal decision-makers from North America, Europe, and Asia Pacific participated in the survey, which revealed that over two-thirds of businesses do not apply lessons learned from previous crises to their training and crisis drills, making them susceptible to disruptive events like cyberattacks, economic shocks, and geopolitical conflicts. Additionally, about 60% of GCs reported increased involvement in crisis management over the past five years, though this involvement varies significantly by region.

Despite the rising complexity of crisis events, over half of organizations are not leveraging AI or machine learning for impact assessments, largely due to skill gaps. Around 70% lack an established crisis response team or a list of external advisors to mobilize during crises. Nearly 40% lack contingency plans for critical risks like cyberattacks or supply-chain failures. FTI Consulting’s leaders emphasize the need for timely, decisive action and robust tools for risk management, with general counsels playing a key role in closing these preparedness gaps to enhance organizational agility and crisis response capabilities.

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