Gen AI ranks second in top emerging risks for Q2 2023, Gartner finds


Generative AI has made its mark as a principal concern among enterprise risk executives in Q2 2023, based on Gartner’s latest report.

Gartner conducted a survey of 249 senior enterprise risk executives in May 2023 to provide an in-depth insight into 20 emerging risks.

Generative AI has been identified as the second most frequently named risk in the Q2 2023 survey, with third-party viability taking the lead. Financial planning uncertainty was third on the list, while cloud concentration risk followed, and China trade tensions wrapped up the top five.

The Quarterly Emerging Risk Reports offer data on the possible repercussions, duration, attention level, and perceived prospects tied to the mentioned risks.

The top five risks were a mix of macroeconomic and geopolitical volatility, and technology-driven concerns.

Ran Xu, research director in Gartner Risk & Audit Practice, highlighted the first-time appearance of generative AI in the top 10 of their quarterly survey, indicative of its growing public usage and potential risks.

Gartner has outlined six risks related to generative AI and four AI regulation sectors significant to assurance operations.

Gartner Risk & Audit Practice director Ran Xu said, “Generative AI was the second most-frequently named risk in our second quarter survey, appearing in the top 10 for the first time.” Ran Xu added, “This reflects both the rapid growth of public awareness and usage of generative AI tools, as well as the breadth of potential use cases, and therefore potential risks, that these tools engender.”

On the topic of intellectual property, Xu elaborated, “Information entered into a generative AI tool can become part of its training set, meaning that sensitive or confidential information could end up in outputs for other users.” Ran Xu cautioned on cybersecurity, “Hackers are always testing new technologies for ways to subvert it for their own ends, and generative AI is no different.”

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