Forbes, October 26, 2023

A best practice for managing a crisis is to prepare for known threats.

New research about the readiness of companies to respond to the dangers posed by AI should be a wake-up call for all companies. Only 9% of surveyed companies said they are prepared to deal with the risks associated with the rapidly evolving technology.

Although 93% of queried organizations said they know about the dangers, only 17% have provided training or briefed their teams about the threats.

That’s according to research conducted by Riskonnect, a risk management software company, which polled 300 risk and compliance professionals around the world this past June and July.

Generative AI – which can create text, images, and other media – is expected to reach 77.8 million users within a couple of years. That’s more than double the adoption rate of tablets and smartphones, Insider Intelligence reported.

The top concerns of surveyed companies about AI include data and cyber issues (65%); decisions by employees that are based on erroneous information (60%); employee misuse and ethical risks (55%); copyright and intellectual property risks (34%); and discrimination risks (17%), according to the executive summary of Riskonnnect’s The New Generation of Risk Report: Addressing the New Realities and Risks in 2023 and Beyond.

“The fact that most companies haven’t simulated their worst-case scenario is surprising given the substantial investments organizations are making in their strategies elsewhere,” Jim Wetekamp, CEO of Riskonnect, said via email.

Read the full article in Forbes.>>