The integration of AI and ML in both climate change and cyber risk management has significantly bolstered their effectiveness. These advanced technologies enable organizations to handle extensive datasets, whether related to climate patterns or cyber activities, with greater efficiency and making more informed decisions. AI and machine learning are utilized in cyber security to predict potential threats, automate tasks, and manage cyber security risks. Ensuring the accuracy of information, comprehending the functionality of the model, and safeguarding individuals' data pose challenges. It is very important to use personal information ethically and protect it. Researchers should prioritize accuracy in the information utilized, clarity in AI models, and fairness in AI decision-making in the future. New technologies like edge computing, federated learning, explainable AI, and quantum computing are changing the way we manage risk and keep our digital information safe. These new advancements provide opportunities to gain a better understanding of risks, identify threats more rapidly, and improve decision-making. Still, there are challenges concerning data accuracy, understanding model operations, and privacy issues that must be resolved before these technologies can effectively address cyber risks.