Subj : Fortune 500 companies are getting increasingly worried about AI
To   : All
From : TechnologyDaily
Date : Mon Aug 19 2024 16:45:06

Fortune 500 companies are getting increasingly worried about AI

Date:
Mon, 19 Aug 2024 15:32:29 +0000

Description:
More and more firms perceive AI as a risk, with more companies acknowledging 
usage of the tech each year.

FULL STORY
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A growing number of US corporations are recognising artificial intelligence 
as a potential risk in their annual reports, new research has claimed. 

A report from Arize AI claims, 281 of the Fortune 500 companies noted AI as a 
risk factor in their latest filings  a staggering 473.5% increase compared 
with last year. 

Recognition of the risks surrounding AI tools comes after many months of 
development and hundreds of new tools, both within enterprise and consumer 
realms. Businesses are worried about AI 

Moreover, the technology is on the tips of many business leaders tongues 152% 
more companies mentioned AI this year than last, indicating widespread 
adoption and awareness. 

The study concludes: impact of generative AI is being felt across a wide 
array of industries  even those not yet embracing the technology. 

However, most mentions highlight AIs risks, leading Arize AI to believe that 
companies can differentiate themselves by demonstrating innovations 
attributed to the technology. 

Media and entertainment companies are among those most likely to perceive AI 
as a threat 91.7% agreed, as the sector continues to battle with AIs 
disruption to content creation and intellectual property. For example, 
Netflix warned that competitors leveraging AI could affect its ability to 
compete. 

Other industries, including software and tech firms (86.4%), telecomms (70%), 
and healthcare (65.1%) also expressed concerns about artificial intelligence 
affecting their sector, with automotive, energy and manufacturing companies 
less likely to see AI as a risk. 

The report also mentions AIs role in cybersecurity, where it can fuel attacks 
by processing huge amounts of data in leaks and writing malicious code. 

However, despite legitimate risks, the technologys rapid adoption continues, 
and the need for companies to balance innovation with a cautious approach is 
becoming ever clearer. More from TechRadar Pro Check out the best AI writers 
around right now Weve rounded up a list of the best productivity tools Gen AI 
interest is helping push cloud investment to a new high



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Link to news story:
https://www.techradar.com/pro/fortune-500-companies-are-getting-increasingly-w
orried-about-ai


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