95% of businesses advocate for AI cyber regulations

07 November 2023

95% per cent of businesses are urgently advocating for AI cyber regulations ahead of November’s AI Safety Summit, according to research from RiverSafe.

The report - AI Unleashed: Navigating Cyber Risks Report - conducted by independent polling agency, Censuswide, revealed the attitudes of 250 cybersecurity leaders towards the impact of AI on cybersecurity.

Three in four businesses revealed that the implementation of AI within their operations has been halted due to the substantial cyber risks associated with this technology.

Security concerns have also prompted 22% of organisations to prohibit their staff from using AI chatbots, such as ChatGPT, highlighting the deep-rooted apprehension regarding AI's potential vulnerabilities.

64% of respondents have increased their cyber budgets this year, demonstrating a commitment to bolstering their cybersecurity defences.

"While AI has many benefits for businesses, it is clear that cybersecurity leaders are facing the brunt of the risks,” said Suid Adeyanju, CEO at RiverSafe. “AI-enabled attacks can increase the complexity of security breaches, exposing organisations to data incidents, and we still have not 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.”

Two thirds of businesses expect a rise in data loss incidents, while one in five respondents admitted that their businesses had suffered a serious cyber breach this year, emphasising the urgency of robust cybersecurity measures.