Phone : +91 95 8290 7788 | Email : sales@itmonteur.net

Register & Request Quote | Submit Support Ticket

Home » Cyber Security News » PwC warns of AI risk management gap as industries rush to embrace tech – ET CISO

PwC warns of AI risk management gap as industries rush to embrace tech – ET CISO

PwC warns of AI risk management gap as industries rush to embrace tech – ET CISO

https://etimg.etb2bimg.com/thumb/msid-113144065,imgsize-8240,width-1200,height=765,overlay-etciso/next-gen-tech/pwc-warns-of-ai-risk-management-gap-as-industries-rush-to-embrace-tech.jpg

As industries rush to harness the power of generative artificial intelligence (AI), a significant gap in risk management has emerged. According to a report by PwC, only 58% of executives in sectors like healthcare, technology, and financial services have conducted a preliminary assessment of AI-related risks, despite the widespread adoption of the technology.

The report, based on an April survey of 1,001 executives from both private and public organizations, found that 73% of executives either use or plan to use AI, including generative AI. However, many of these leaders are only focusing AI applications on operational systems, potentially overlooking broader risks.

PwC warned that companies slow to integrate AI comprehensively may find themselves lagging behind competitors, making it difficult to catch up. The rapid pace of AI advancements, coupled with the challenges of managing associated risks, is becoming increasingly apparent to business leaders.

The World Economic Forum (WEF) echoed these concerns in a July 2023 report, highlighting that three out of four Chief Risk Officers (CROs) view AI as a reputational risk to their organizations. Additionally, 90% of CROs expressed support for stricter regulation of AI development and use, with nearly half advocating for a slowdown in AI advances until the risks are better understood.

Primary concerns

Among the primary concerns are the “opaque” nature of AI algorithms, which can lead to unintended data sharing and biased decision-making. Furthermore, AI is becoming a potent tool for generating false information, or “synthetic content,” which the WEF predicts will manipulate individuals, damage economies, and fracture societies in the coming years.

PwC underscored that managing AI risks is not a one-time effort but a continuous commitment that must be integrated into every stage of AI technology development, deployment, and monitoring. As AI continues to evolve, the pressure on businesses to balance innovation with risk management is likely to intensify.

  • Published On Sep 7, 2024 at 11:06 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETCISO App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App

Information Security - InfoSec - Cyber Security - Firewall Providers Company in India

 

 

 

 

 

 

 

 

 

 

 

 

What is Firewall? A Firewall is a network security device that monitors and filters incoming and outgoing network traffic based on an organization's previously established security policies. At its most basic, a firewall is essentially the barrier that sits between a private internal network and the public Internet.

 

Secure your network at the gateway against threats such as intrusions, Viruses, Spyware, Worms, Trojans, Adware, Keyloggers, Malicious Mobile Code (MMC), and other dangerous applications for total protection in a convenient, affordable subscription-based service. Modern threats like web-based malware attacks, targeted attacks, application-layer attacks, and more have had a significantly negative effect on the threat landscape. In fact, more than 80% of all new malware and intrusion attempts are exploiting weaknesses in applications, as opposed to weaknesses in networking components and services. Stateful firewalls with simple packet filtering capabilities were efficient blocking unwanted applications as most applications met the port-protocol expectations. Administrators could promptly prevent an unsafe application from being accessed by users by blocking the associated ports and protocols.

 

Firewall Firm is an IT Monteur Firewall Company provides Managed Firewall Support, Firewall providers , Firewall Security Service Provider, Network Security Services, Firewall Solutions India , New Delhi - India's capital territory , Mumbai - Bombay , Kolkata - Calcutta , Chennai - Madras , Bangaluru - Bangalore , Bhubaneswar, Ahmedabad, Hyderabad, Pune, Surat, Jaipur, Firewall Service Providers in India

Sales Number : +91 95 8290 7788 | Support Number : +91 94 8585 7788
Sales Email : sales@itmonteur.net | Support Email : support@itmonteur.net

Register & Request Quote | Submit Support Ticket