The top Generative AI concern for the remainder of 2024 is data security risk, say decision makers—what companies can do to protect data

by | May 8, 2024 | Public Relations

Brands and businesses have had data-management problems since way back in primitive times (i.e., before AI), and the issue could potentially get much worse here in the modern age as the tech transforms business procedures—and new research from AI-augmented data security, compliance, and privacy firm BigID reveals that IT leaders fear the risks of data-security shortfalls more than anything in their Generative AI initiatives.

AI risks

The firm’s 2024 Global Report on Generative AI: Breakthroughs & Barriers, based on a survey of more than 300 IT decision makers conducted by YouGov, explores AI adoption trends, challenges, impact, and future plans of generative AI within organizations—affirming the unique set of challenges that adoption of generative AI poses: while its potential to revolutionize productivity and operations is undeniable, ensuring the security, privacy, and responsible use of the data it leverages is critical.

AI risks

As organizations embrace the transformative power of Generative AI, managing the data that fuels these models is paramount. Security concerns surrounding AI have spurred rapid legislative responses like the EU AI Act and US Executive Orders—highlighting the need to mitigate potential risks.

Key research findings:

  • 83 percent of organizations are actively embracing or preparing for generative AI
  • More than two-thirds of organizations rank data security risks as their top AI concern.
  • 50 percent of organizations consider data security to be the number one challenge when implementing AI.
  • Nearly 50 percent of organizations experience adverse business outcomes from AI usage, including data breaches.
  • 73 percent of those surveyed lack full confidence in meeting future AI regulations.

AI risks

“Generative AI offers tremendous opportunities for innovation and growth,” said Stephen Gatchell, BigID’s Sr. Data Advisory Director, in a news release. “However, as our research shows, organizations must prioritize the data that fuels GenAI—and apply strong security, privacy, risk management, and compliance controls to that data in order to unlock the full potential of generative AI while mitigating the associated risks.”

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Download the full report here.

BigID, an SAP Endorsed Apps partner, commissioned YouGov to conduct a comprehensive study on present and future trends in the adoption of generative AI. The survey, conducted in November 2023, carried out 327 interviews with IT decision-makers and influencers from organizations around the world of various sizes, industries, and locations.

Richard Carufel
Richard Carufel is editor of Bulldog Reporter and the Daily ’Dog, one of the web’s leading sources of PR and marketing communications news and opinions. He has been reporting on the PR and communications industry for over 17 years, and has interviewed hundreds of journalists and PR industry leaders. Reach him at richard.carufel@bulldogreporter.com; @BulldogReporter