In this episode of Risk Is Our Business, Captain Michael Rasmussen connects over a slightly long-distance subspace channel (also known as a video call) with Alex Dali, President of the G31000 Risk Institute, to explore the evolution of one of the most widely recognized frameworks in modern risk management.

Alex walks through the story of ISO 31000, where the standard came from, how it has evolved since its original release, and what the next phase of its development may look like as organizations confront an increasingly complex risk landscape.

Along the way, they unpack the difference between bad risk management (overly procedural, disconnected from decisions, and driven by checklists and heat maps) and good risk management, which aligns with organizational objectives and supports leadership in navigating uncertainty.

The conversation also turns to the current state of risk technology, including the ongoing search for tools that genuinely support the principles of ISO 31000 rather than forcing risk management into rigid compliance workflows. From there, they explore how AI may reshape the discipline, the role technology should play in enabling better decision-making, and how the Chief Risk Officer role itself may evolve as risk becomes more integrated with strategy and business operations.

The discussion offers a thoughtful look at how risk management standards, technology, and leadership must evolve together if organizations are to navigate uncertainty with clarity rather than simply documenting it.