Democracy has increasingly come under pressure as democratic norms are being eroded. This article explores why democratic processes are at risk in Europe and the United States and what might replace them. It reflects the thinking of the Study Group on Democracy convened under the auspices of the International Association for Intelligence Education in 2022. Its deliberations identified a set of underlying key drivers, documented how they manifested, and speculated on what new forms of governance might replace democratic rule. Recent trends cited include the corruption of norms, the disruptive influence of social media, the growing diversity of society, the shift from community-based problem-solving to reliance on identity politics, the emergence of existential threats, and the need for strong leadership. The group concludes that prospects for sustaining democratic institutions can best be understood by viewing future trends along two perspectives: the complexity of society and modes of decision-making.