Gartner’s latest quarterly report “Emerging Risks Report” surveyed 110 senior executives about risk, audit, finance, and compliance at large global organizations. Not surprisingly, they identified cloud computing as the top concern for the second consecutive quarter.

Why? Moving to the cloud means changing major business processes, which adds risk, and the cost of risk. Risk took in the form of cybersecurity disclosure and legal compliance ranked among the top concerns of the executives surveyed.

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The Top 2 high-impact risks of moving to the cloud are related to information security threats. Social engineering and GDPR compliance were cited as the risks most likely to cause the greatest enterprise damage if there is no planning and preparation. But only 18 percent of the cross-functional executives surveyed considered social engineering to be an enterprise risk.

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