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Survey: More than half of large US companies believe AI poses risks to their business

2024-08-20

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Cailianshe News, August 20 (Editor: Xia Junxiong)More than half of large US companies view artificial intelligence (AI) as a potential risk to their business, a new survey shows.

The survey was conducted by research platform Arize AIArize AI analyzed public disclosures from large companies. Overall, 56% of Fortune 500 companies in the United States listed AI as a risk factor in their latest annual reports, a significant increase from 9% in 2022. Chatbots leading the AI ​​industry revolutionChatGPTReleased in November 2022.

In contrast, among the 108Generative AIOf the companies that see generative AI, only 33 see it as an opportunity. In their annual reports, these companies noted that potential benefits include cost efficiencies, operational benefits, and accelerated innovation. However, the remaining companies see generative AI as a risk.

Many companies see increased competition as a risk from AI, as executives worry they may not be able to keep up with rivals that are better at exploiting the technology.

Streaming giant Netflix has warned that competitors could gain an advantage by deploying AI, which would affect their ability to compete effectively and could adversely affect the company's operating performance.

In addition, other potential harms that companies are concerned about include reputational or operational issues, such as the ethical risks that AI may raise in areas such as human rights, employment and privacy.

Telecommunications group Motorola said AI may not always operate as expected and data sets may be inadequate or contain illegal, biased, harmful or objectionable information, which could negatively impact its earnings and reputation.

Some industries are more worried about AI than others. More than 90% of large US media and entertainment companies said that rapidly growing AI systems posed a business risk this year, with 86% of software and technology groups holding a similar view.

More than two-thirds of telecom companies, and more than half of healthcare, financial services, retail, consumer and aerospace companies, issued the same warning to investors.

Some companies also mentioned that AI could pose financial risks, such as increasing and unpredictable costs.

Software giant Salesforce says it is usingAI TechnologyThe company said its profit margins could be hurt by uncertainty over emerging AI applications, meaning it may have to invest more to develop and test new models.

Legal, Regulatory andCybersecurityThe risks of AI in the field are also a topic of concern for businesses. Entertainment giant Disney warned that the rules governing the development of new technologies, such as generative AI, are still undecided, which could hit its existing business models, such as revenue streams from using its intellectual property and how it creates entertainment products.

Pharmaceutical group Viatris has warned that the use of AI solutions by employees or suppliers could lead to the public disclosure of confidential information and unauthorized access to personal data relating to employees, clinical trial participants or others.

Among the few companies that see AI as an opportunity are healthcare groups Quest Diagnostics and Cigna, which say generative AI is improving parts of their operations such as customer service, specimen processing and claims analysis, while advertising firm IPG says AI is adding intelligence to content creation across marketing.

(Xia Junxiong of Cailianshe)