Closing the Year in the Gray Zone: What to Watch Heading into 2027
As 2026 draws to a close, join ERI’s analysts and leadership team for the final quarterly update of our Strategic Intelligence Estimate 2026: Business in the Gray Zone – and a first look at the risks shaping 2027.
In January, we forecast a year in which states and non-state actors would increasingly operate in the space between peace and war, using proxies, sabotage, economic coercion, regulation and technology to pursue their aims. Much of that held: trade and export controls were wielded as instruments of state power, AI-enabled threats accelerated faster than expected, and companies...




