According to Babywearing International, carrying a baby in a soft baby carrier can be safer than carrying a baby in your arms when done properly, because you don't have to worry about your muscles getting tired or dropping your infant if you reflexively reach out to balance yourself or catch yourself in a fall.
 
Still, wearable infant products can hold risks if not properly used. Here are some quick tips to keep in mind:

The most common risk is suffocation. Never carry, hold or place your baby in a position where his chin is curled against his chest.
Your baby’s face should not be pressed tight against the wearer.
Make sure your baby’s entire face is visible at all times. Don't allow your baby’s head and face to be covered with fabric, which can cause him to rebreathe stale air or make it difficult for you to check on him.
Don't do any activity that shakes or bounces your baby, like jogging, running or jumping on a trampoline, since this can do damage to the neck, spine and brain according to the American Chiropractic Association.
Never use your baby carrier in place of a car seat