Corporate Compliance Insights, October 19, 2023
While 93% of companies recognize the risks associated with using generative AI inside their enterprises, only 9% say they’re prepared to manage the threat, according to research by Riskonnect, a risk management software provider.
Riskonnect’s research, informed by a global survey of more than 300 risk and compliance professionals, reveals a profound AI risk management gap: To date, only 17% of risk and compliance leaders have formally trained or briefed their organizations on the risks of using generative AI.
“Generative AI is taking off at lightning speed and ushering in a new wave of business risks. Our research shows that most companies have been slow to respond, which creates vulnerabilities across the enterprise,” Jim Wetekamp, the CEO of Riskonnect, said in a news release. “The rise of generative AI is the latest example of how quickly today’s risk landscape evolves. We’ve officially entered a new generation of risk.”
Riskonnect’s findings largely track with other research, including a report from The Conference Board, which found that while a majority of U.S. workers are using generative AI, few of their employers had put policies in place.
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