Leaders are urgently advocating for AI cyber regulations

Suid Adeyanju, CEO at RiverSafe
Suid Adeyanju, CEO at RiverSafe
Conversation surrounding the risks of AI and how they can be mitigated was kickstarted at the recent AI Safety Summit, hosted in the UK

The vast majority of cyber leaders are calling for the introduction of regulations to protect their businesses from the risks associated with artificial intelligence.

That’s according to fresh research from RiverSafe, which discovered 95% of cyber chiefs are urgently advocating for enhanced rules. 

Conversation surrounding the risks of AI and how they can be mitigated was kickstarted at the first-ever AI Safety Summit, hosted in the UK at the beginning of November. 

“While AI has many benefits for businesses, it is clear that cybersecurity leaders are facing the brunt of the risks,” comments Suid Adeyanju, CEO at RiverSafe.

“AI-enabled attacks can increase the complexity of security breaches, exposing organisations to data incidents, and we still haven’t explored the full extent of the risks that AI can pose. 

“Rushing into AI adoption without first prioritising security is a perilous path, so striking a delicate balance between technological advancement and robust cybersecurity is paramount.”

The majority of businesses are increasing their spending on cybersecurity, according to research from RiverSafe

Business halting AI implementation over cyber risks

In producing its latest report, RiverSafe commissioned Censuswide to survey 250 cyber leaders to gauge their thoughts on the impact of AI on cybersecurity. 

Interestingly, three-quarters (76%) of respondents revealed the implementation of AI within their operations has been halted due to the substantial cyber risks associated with the rapidly-emerging technology. 

Security concerns have prompted more than a fifth (22%) of organisations to prohibit their staff from using AI chatbots, such as OpenAI’s ChatGPT, highlighting the deep-rooted apprehension regarding AI's potential vulnerabilities.

To manage risks, almost two-thirds (64%) of surveyed leaders have increased their cybersecurity budgets this year, demonstrating a commitment to bolstering their defences.

However, the clear and present danger of cyber attacks – and urgency of robust cybersecurity measures – is demonstrated by the fact 18% of businesses have suffered a serious cyber breach this year. Meanwhile, 63% are expecting rise in data loss incidents

Read the full report: AI Unleashed: Navigating Cyber Risks

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