PNN – More than half of the largest American companies warned in their new annual report about the dangers of artificial intelligence in the future of their business activity.
According to the report of Pakistan News Network, the Financial Times newspaper wrote: A new report on the role of emerging technologies in sweeping industry changes shows that more than half of Fortune 500 companies, including America’s largest companies with the highest revenue, consider artificial intelligence a possible threat to their business activities.
According to research website Arize AI, a total of 56 percent of Fortune 500 companies cited AI as a “risk factor” in most of their annual reports. This figure shows a significant increase compared to the 9% opinion that these companies had in 2022 about the risks of artificial intelligence.
In contrast, only 33% of the 108 companies that specifically talked about “Generative AI” mentioned the advancement of technology as an “opportunity.” Generative artificial intelligence is a type of artificial intelligence that can produce real content similar to human-generated content in the field of text, music, etc.
The groups noted in their annual reports that the potential benefits of using generative artificial intelligence include cost efficiencies, operational benefits and accelerating innovation. However, more than two-thirds of this same group identified artificial intelligence as a risk factor.
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This shows that the impact of generative AI is already being felt across a range of industries and in the largest listed companies in America.
Among Fortune 500 companies, AI risks cited in this year’s annual financial reports include more competition, as boardrooms worry they may not be able to keep pace with rivals who are making better use of the new technology.
According to the report, some industries are more concerned about artificial intelligence than others.
More than 90 percent of the largest U.S. media and entertainment companies, as well as 86 percent of software and technology groups, said emerging AI systems are a business risk this year.
More than two-thirds of Fortune 500 telecommunications companies and more than half of healthcare, financial services, retail, consumer and aerospace companies also warned investors about the risk of artificial intelligence.
Some companies also pointed to financial risks associated with the increased use of AI systems, such as increased and unpredictable costs.
In addition to this, legal, regulatory and cyber security issues were among the issues that most Fortune 500 companies warned about in the use of artificial intelligence.