In 2024, effective business continuity is crucial for survival, with over 70% of unprepared companies failing after significant disruptions. Key trends include AI for risk monitoring, cultivating a resilient culture, enhancing supply chain visibility, improving cyber resilience, adapting to remote work, integrating ESG, refining crisis communication, and implementing scenario-based training.
AI promises transformative changes for businesses, but most are unprepared for associated risks. Parallels are drawn to past issues with MS Access databases—critical yet poorly managed systems. To avoid similar problems with AI, companies must integrate AI under IT governance, document thoroughly, train staff broadly, develop AI-specific business continuity plans, and test recovery protocols.
Business disruptions are inevitable, but a solid business continuity plan (BCP) can ensure your company isn’t part of the 25% that never recover post-disaster. This blog highlights how ChatGPT can assist in creating and enhancing a BCP by providing strategy frameworks, risk assessments, impact analyses, crisis communication drafts, and testing scenarios, making the planning process faster and more comprehensive.
