The COVID-19 crisis has highlighted the limitations of current risk and business continuity management approaches, including a lack of suitable data and intelligence, an inadequate appreciation of risk velocity, and insufficient agility to adapt to rapidly changing situations. Arthur D. Little (ADL) has developed a new business resilience management approach that addresses these shortcomings, with a predictive analytics tool powered by machine-learning technology at its core. This "next-generation" approach can help companies become truly resilient and "anti-fragile". Critical infrastructure industries such as utilities, transport, telecoms, healthcare, and chemicals will need to adopt this approach for the post-COVID world. The lessons learned from 25 CEO best practice-sharing meetings indicate common shortcomings in getting reliable intelligence and keeping up with the velocity of risks.
