<p>Bengaluru: Cybersecurity and regulatory challenges are major hurdles for companies globally when it comes to AI, said a report by Boston Consulting Group (BCG) that came out on Wednesday. </p>.<p>According to the report, 76 per cent of company executives believe that significant improvements are needed in AI cybersecurity measures. </p>.Voice cloning, fake couriers: How AI is supercharging Bengaluru's cybercrime.<p>Executives identified data privacy and security (66 per cent), lack of control or understanding of AI decisions (48 per cent), and regulatory challenges and compliance (44 per cent) as the top three AI risks to navigate.</p>.<p>Christoph Schweizer, CEO of BCG, said, “While 75 per cent of executives rank AI as a top three strategic priority, only a quarter report meaningful value from their AI initiatives.”</p>.<p>Despite these challenges, one in three companies across the world are allocating over $25 million for AI initiatives.</p>.<p>India seems relatively more bullish, with 80 per cent of Indian companies marking AI as a core priority, against a global average of 75 per cent. It is also among the top spenders in AI with 69 per cent of Indian companies planning to increase tech investments in 2025.</p>.<p>The report also observed that the fear of job loss due to AI is overstated, as only 7 per cent of executives surveyed globally anticipate that AI automation will lead to an overall decrease in headcount. The report was based on a survey of 1,803 executives.</p>
<p>Bengaluru: Cybersecurity and regulatory challenges are major hurdles for companies globally when it comes to AI, said a report by Boston Consulting Group (BCG) that came out on Wednesday. </p>.<p>According to the report, 76 per cent of company executives believe that significant improvements are needed in AI cybersecurity measures. </p>.Voice cloning, fake couriers: How AI is supercharging Bengaluru's cybercrime.<p>Executives identified data privacy and security (66 per cent), lack of control or understanding of AI decisions (48 per cent), and regulatory challenges and compliance (44 per cent) as the top three AI risks to navigate.</p>.<p>Christoph Schweizer, CEO of BCG, said, “While 75 per cent of executives rank AI as a top three strategic priority, only a quarter report meaningful value from their AI initiatives.”</p>.<p>Despite these challenges, one in three companies across the world are allocating over $25 million for AI initiatives.</p>.<p>India seems relatively more bullish, with 80 per cent of Indian companies marking AI as a core priority, against a global average of 75 per cent. It is also among the top spenders in AI with 69 per cent of Indian companies planning to increase tech investments in 2025.</p>.<p>The report also observed that the fear of job loss due to AI is overstated, as only 7 per cent of executives surveyed globally anticipate that AI automation will lead to an overall decrease in headcount. The report was based on a survey of 1,803 executives.</p>
