Generative artificial intelligence (AI) has emerged as a new technology with the potential to completely reshape business practices and create new avenues for innovation. It will significantly impact virtually every industry sector. Organizations have rushed to embrace it, as evidenced by a recent Gallagher survey of 1,000 business owners. In that survey, a vast majority — 81% — indicated they planned to maintain or increase investments in AI in the near term.
However, along with new efficiencies, AI tools will bring new risks to the forefront for those that use them. AI’s risk will force enterprise risk management programs to incorporate strategies to effectively manage,