Over half of boardroom leaders fear AI is the biggest direct threat to their organisation, amid ongoing discussions around AI regulation in the UK.
Additionally, nearly half (44 per cent) of boardroom leaders expressed serious concerns around a lack of tech innovation within their business, according to new research from The IN Group.
Generative AI stood out as the second biggest focus for the boardroom behind cyber, with overlap around the rise of AI-powered cyber-attacks.
54 per cent of CEOs argued they were falling behind in terms of innovation, and as a response to these looming concerns 62 per cent said they are prioritising hiring AI experts to capitalise on the advancements of AI technology.
Rachael Hays, Transformation Director for Definia, part of The IN Group: “Before clamouring for the latest AI for fear of falling behind their competitors, companies first need to ask themselves: what’s the business case for introducing this technology and is your data in the right state to build AI on? If that business case doesn’t yet exist or you don’t have solid data architecture in place, the best thing to do is ignore the media coverage and ensure your people are equipped with the latest data and AI skills, allowing you to properly utilise AI technology when the time is right for you to adopt it.
As the technology landscape continues to evolve, so do the risks of cyber-attacks. The rise of AI deepfakes leaves room for malicious uses of advanced technology, something which the boardroom needs to fully comprehend before utilising advancements to their own advantage.”
Prof Alexeis Garcia Perez, Professor of Digital Business and Society, Aston Business School, Aston University: “While AI is recognised for its potential to drive business innovation, there is also a palpable concern about its disruptive effects on traditional business models and employment. The strategic focus on recruiting AI experts, particularly in the US and Germany, illustrates the urgency to harness the capabilities of AI responsibly and effectively.”
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Over half of boardroom leaders fear AI is the biggest threat to their business