Cybersecurity remained the top concern for business leaders for the fifth year in a row, but AI moved to second place, according to a report released Wednesday of Allianz Commercial.
AI rose sharply from 10th place to the second biggest concern, indicating growing interest in how technology could improve productivity, while creating new security challenges, according to the report. Allianz annual risk barometer.
“Businesses are increasingly viewing AI not only as a powerful strategic opportunity, but also as a complex source of operational, legal and reputational risks,” Ludovic Subran, chief economist at Allianz, told Cybersecurity Dive. “In many cases, adoption is moving faster than governance, regulation and workforce readiness can keep up. »
As more companies strive to adopt AI, they will encounter system reliability issues, constraints on data quality, integration barriers and a shortage of qualified talent, Subran added.
The report is based on a survey of more than 3,300 risk management experts in 97 countries.
In the United States, in particular, cybersecurity remained the top risk concern, followed by business interruptions and changes in legislation and regulations. AI risk came in as the fourth highest concern nationally, up from sixth the previous year.
The report highlights the impact of rapid advancements in connected technologies and digital transformation on the business landscape.
A report from Moody’s earlier this month revealed growing fears about AI-based cyberattacks, as well as concerns about the expanded use of agentic AI.