Three-fifths of businesses view generative artificial intelligence as a good opportunity but research has revealed many fear they are exposed to cyberattacks.
Businesses will “not progress” if they do not take risks, as the race to adopt new and emerging technologies heats up, according to PwC.
Around 37% of firms believe they are highly or extremely exposed to cyber risks, PwC’s survey of more than 3,900 firms around the world found.
More leaders who are responsible for managing a firm’s risk said they thought cyber-related threats were a bigger concern than inflation.
Meanwhile Daily Mail owner Lord Rothermere has called AI a potential “’existential threat to democracy’.
As with any emerging technology there is potential for both good and bad in AI so what can businesses do to protect themselves?
Firstly, keep abreast of developments, if necessary designate someone tech literate to do this.
Secondly, make sure there are robust security measures in place to protect the business from cyber-attacks and improper use of technology.
This should include limiting access to sensitive information only to those who will need it. Regular password updates including two-factor authentication.
Cyber security training for all employees together with regular updates as new threats emerge.
While understandably businesses need to stay competitive to survive and that includes adopting new technology including AI they need to understand the technology they are using and perhaps limit it to those areas where automation and AI will improve productivity but not expose the business to the possible theft of sensitive information.