Digitalizing business models, decision-making, and stakeholder expectations has fundamentally transformed the Enterprise Risk Management (ERM) landscape. This chapter examines how Enterprise Risk Management (ERM) must evolve in a digitally connected world, transitioning into an intelligent, data-driven, and forward-looking decision-support function. Technologies such as artificial intelligence, predictive analytics, and cloud computing introduce new risks while also offering unprecedented capabilities for risk identification, quantification, and communication. Simultaneously, global developments, including cybersecurity threats, regulatory shifts, ESG obligations, and geopolitical uncertainty, require ERM to be deeply embedded in strategy, operations, and culture.