More than half of Fortune 500 companies see artificial intelligence as a potential risk to their businesses, according to a new survey of corporate filings that highlights how the emerging technology could bring about sweeping industrial transformation.
Overall, 56 per cent of Fortune 500 companies cited AI as a “risk factor” in their most recent annual reports, according to research by Arize AI, a research platform that tracks public disclosures by large businesses. The figure is a striking jump from just 9 per cent in 2022.
By contrast, only 33 companies of the 108 that specifically discussed generative AI — technology capable of creating humanlike text and realistic imagery — saw it as an opportunity. Potential benefits include cost efficiencies, operational benefits and accelerating innovation, these groups said in their annual reports. More than two-thirds of that group specified generative AI as a risk.