A recent survey by insurance brokerage Gallagher highlights significant business concerns about artificial intelligence (AI) and the upcoming US presidential election. An overwhelming 80% of business owners are worried that their insurance may not cover specific losses related to these risks. Companies are rapidly integrating AI into their products, with generative AI expected to transform various industries, including technology and financial services. The US presidential election, featuring a contest between former President Donald Trump and incumbent President Joe Biden, adds another layer of uncertainty, with potential policy changes and cyber interference looming. Among the 1,000 respondents, 81% plan to maintain or increase their AI investments in 2024, despite concerns about sensitive information exposure, regulatory challenges, and workplace redundancies. The survey also reveals strong insurance demand, driven by fears of natural disasters and cyber attacks, with 91% and 69% of respondents worried about these issues, respectively. Gallagher’s CEO emphasizes the need for businesses to conduct thorough risk assessments focused on compliance, privacy, and cybersecurity as they adopt generative AI technologies.
AI and US Election Top Business Concerns in 2023, Survey Reveals
Businesses are increasingly concerned about AI and election-related risks, survey finds.
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