EPRS analysts focused on 15 highly probable and high impact risks in the Future Shocks 2023 report – selected from an initial set of around 40 major risks and well-known potential threats – ranging from geopolitics (Russia, China), to climate change (loss of biodiversity, water), energy, health, the economy, cybersecurity, and threats to the democratic information sphere. Less probable risks – but with a potentially very high impact – complete the picture, such as the collapse of the internet, and shocks to financial technology, as this industry may be among the worst-hit sectors amidst the recent market downturn.