AI risks are being tracked by 78% of organizations

In a recent report by AuditBoard, digital risk was analyzed. The report revealed that 78 percent of organizations are monitoring artificial intelligence (AI) as an emerging risk while also incorporating the technology into their operations. More than half of the enterprises surveyed stated that they utilize AI to increase efficiency and bolster their digital risk strategy.

The survey found that two-thirds of organizations prioritize AI risk assessment by utilizing internal processes (65%) and guidance from professional organizations (63%). Additionally, 55% of organizations prioritize risk based on current and forthcoming laws and regulations.

Furthermore, over half of the organizations surveyed use AI to enhance team productivity (57%) and improve threat detection (56%). Nearly half utilize AI for reporting (48%) and automating action and response plans (42%).

When it comes to risk tolerance towards AI, almost half of the respondents indicated a very high (17%) or high (29%) tolerance, while only 12 percent reported a low (9%) or very low (3%) tolerance.

The report also highlighted that 87 percent of companies employ reportable metrics to manage digital risk, with 97% considering their metrics effective and 59% stating that the metrics are very effective.

Read the report.