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Survey shows more American businesses view AI as risky
(MENAFN) The perception of artificial intelligence (AI) as a potential threat among United States businesses has surged dramatically in recent years, with a new survey indicating a more than fivefold increase in such concerns. According to the financial Times, an analysis of corporate filings reveals that over half of America's largest companies now categorize AI as a "risk factor" in their latest annual reports.
This shift marks a significant rise from just 9% in 2022, highlighting a growing apprehension about the implications of AI technologies. The survey, conducted by Arize AI— a platform that monitors public disclosures by major businesses—focuses on the Fortune 500 list, which ranks the 500 largest United States corporations by revenue.
Among the key risks identified are heightened competition, as some companies fear that rivals may gain an edge through faster adoption of AI. Additionally, ethical concerns loom large, with companies expressing unease about AI’s impact on human rights, employment, and privacy. Reputational and operational risks are also cited, with companies worried that AI systems may not always perform as expected and could be compromised by insufficient or biased data.
Telecommunications giant Motorola, for example, has highlighted the potential for AI to adversely affect earnings and brand reputation due to issues such as biased or harmful data sets. The media and entertainment sectors are particularly apprehensive, with over 90 percent of companies— including major players like Netflix and Disney—viewing rapidly evolving AI technologies as a significant business risk this year.
The impact of generative AI, which can create text, images, and videos, is notably significant. More than two-thirds of the companies that addressed this specific type of AI have identified it as a risk, underscoring the widespread concern across various industries about the implications of these advanced technologies.
This shift marks a significant rise from just 9% in 2022, highlighting a growing apprehension about the implications of AI technologies. The survey, conducted by Arize AI— a platform that monitors public disclosures by major businesses—focuses on the Fortune 500 list, which ranks the 500 largest United States corporations by revenue.
Among the key risks identified are heightened competition, as some companies fear that rivals may gain an edge through faster adoption of AI. Additionally, ethical concerns loom large, with companies expressing unease about AI’s impact on human rights, employment, and privacy. Reputational and operational risks are also cited, with companies worried that AI systems may not always perform as expected and could be compromised by insufficient or biased data.
Telecommunications giant Motorola, for example, has highlighted the potential for AI to adversely affect earnings and brand reputation due to issues such as biased or harmful data sets. The media and entertainment sectors are particularly apprehensive, with over 90 percent of companies— including major players like Netflix and Disney—viewing rapidly evolving AI technologies as a significant business risk this year.
The impact of generative AI, which can create text, images, and videos, is notably significant. More than two-thirds of the companies that addressed this specific type of AI have identified it as a risk, underscoring the widespread concern across various industries about the implications of these advanced technologies.
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