Risk managers warned on rising AI-driven cyber threats

Risk managers have been urged to remain vigilant as emerging technologies, particularly Artificial Intelligence (AI), heighten cyber threats confronting businesses.

Speaking at the annual Risk Conference 2025 in Livingstone on Thursday, Sanlam Insurance Chief Risk Officer, Oliver Gondwe, warned that AI-powered malware was rapidly evolving, exploiting system weaknesses and creating new layers of risk.

The conference, themed “Navigating Uncertainty: Building Resilient Strategies for a Dynamic Future”, was organised by the Institute of Risk Management Zambia (IRMZA) in collaboration with the Ministry of Finance and National Planning.

Delivering his presentation under the topic “The CRO and the Board: Building a Strategic, Trusted Advisor Relationship”, Gondwe stressed that while digital transformation had simplified operations, it had also introduced significant risks that required proactive management.

“We now have malware using AI. These machines are learning at a very fast rate. They study the weaknesses in your systems and take advantage. Businesses must ask: what are the embedded risks in digital adoption, and how do we address them?” he said.

Beyond cyber threats, Gondwe underscored the need for stronger alignment and trust between boards, chief risk officers (CROs), and executive teams, noting that risk management should be embedded in corporate culture rather than treated as a one-off exercise.

“All key stakeholders—the board, executive teams, and staff—must be well aligned so that risk management becomes part of the culture. If the board, the CRO, and management operate in silos, conflicts and gaps emerge. Strategic trust and effective communication are the foundation of resilience,” he said.

The conference has brought together industry experts and practitioners to explore emerging threats and the evolving role of risk managers in safeguarding businesses against uncertainty.

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