78 percent of organizations view AI as an emerging tech risk

A new study from cloud-based risk management platform AuditBoard finds 78 percent of organizations are tracking AI as an emerging risk while simultaneously adopting the technology themselves.

The report, based on a survey of over 400 security professionals in the US, finds more than half of enterprises surveyed report using AI to improve efficiency and enhance their digital risk posture.

Two-thirds of organizations say they prioritize AI risk assessment using existing internal processes (65 percent) and/or guidance and best practices from professional organizations (63 percent). Another 55 percent say they use current and pending laws and regulations to prioritize risk.

In addition 57 percent use AI to improve team productivityand enhance threat detection (56 percent). While 48 percent say they use it in reporting and 42 percent in automating action and response plans.

Nearly half of respondents describe their risk tolerance towards AI as very high (17 percent) or high (29 percent), while only 12 percent report a low (nine percent) or very low (three percent) AI risk tolerance. This suggests the growing acceptance of AI as an emerging technology that presents both benefits and risks.

When it comes to managing digital risk, 87 percent of companies use reportable metrics. Of this group, nearly all (97 percent) consider their metrics to be effective, with 59 percent saying the metrics they use are very effective -- underscoring the importance of data-driven decision-making.

"The findings from this survey underscore the importance of evolving digital risk management practices," says Richard Marcus, CISO at AuditBoard. "As organizations mature in their approaches, integrating advanced technologies and fostering strong collaboration will be key to staying ahead of emerging threats and protecting digital assets."

The report’s findings are being announced in conjunction with IT Risk Now 2024, AuditBoard's virtual event that brings together cybersecurity and IT risk management leaders to discuss how to handle today's most urgent challenges. You can also get the full report from the AuditBoard site.

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