More Than Two-thirds of Organizations Rank Data Security Risks as Their Top AI Concern

A new research study from BigID explores generative AI adoption, challenges, and outlook for organizations in 2024

NEW YORK, April 24, 2024 /PRNewswire/ -- BigID, the pioneer in AI-augmented data security, compliance, and privacy for modern cloud-first enterprises, today published "The 2024 Global Report on Generative AI: Breakthroughs & Barriers." This exclusive research, commissioned by BigID as an SAP Endorsed App partner, explores AI adoption trends, challenges, impact, and future plans of generative AI within organizations.

As organizations embrace the transformative power of Generative AI, managing the data that fuels these models is paramount. Security concerns surrounding AI have spurred rapid legislative responses like the EU AI Act and US Executive Orders, highlighting the need to mitigate potential risks.

BigID streamlines security and risk management for organizations embarking on AI initiatives, enabling companies to govern and secure data that feeds GenAI, including Microsoft Copilot, ChatGPT, and other large language models (LLMs).  By granting comprehensive data visibility and control, BigID empowers organizations to ensure responsible and compliant AI adoption from the outset, streamlining discovery, risk management, and compliance processes for AI.

Key Findings:

• 83% of organizations are actively embracing or preparing for generative AI
• More than two-thirds of organizations rank data security risks as their top AI concern.
• 50% of organizations consider data security to be the number one challenge when implementing AI.
• Nearly 50% of organizations experience adverse business outcomes from AI usage, including data breaches.
• 73% of those surveyed lack full confidence in meeting future AI regulations.

The adoption of generative AI within the workplace presents a unique set of challenges for organizations. While its potential to revolutionize productivity and operations is undeniable, ensuring the security, privacy, and responsible use of the data it leverages is critical.

"Generative AI offers tremendous opportunities for innovation and growth," says Stephen Gatchell, BigID's Sr. Data Advisory Director. "However, as our research shows, organizations must prioritize the data that fuels GenAI - and apply strong security, privacy, risk management, and compliance controls to that data in order to unlock the full potential of generative AI while mitigating the associated risks."

This study explores the biggest challenges, the root cause of these issues, and actionable solutions to strengthen data security, privacy, management, and compliance in the age of AI.

Get an exclusive copy of the study here:

• Read more about the survey here
• Visit BigID at RSAC on May 6 - 9 to learn more about how organizations are safely accelerating their AI Adoption
• Get a 1:1 Demo with AI Security Experts

Methodology
BigID, an SAP Endorsed Apps partner, commissioned YouGov to conduct a comprehensive study on present and future trends in the adoption of generative AI. The survey, conducted in November 2023, carried out 327 interviews with IT decision-makers and influencers from organizations around the world of various sizes, industries, and locations.

To learn more about the "2024 Global Report on Generative AI: Breakthroughs & Barriers," visit https://home.bigid.com/generative-ai-breakthroughs-barriers.

About BigID
BigID is a pioneer in data security and compliance for the public and private cloud, helping to define new data security product categories like DSPM (Data Security Posture Management) and redefine categories like Data Discovery, Data Classification, Data Loss Prevention, and Data Access Management.

BigID empowers organizations to know their enterprise data and take action for data-centric security, privacy, compliance, AI innovation, and governance. Customers deploy BigID to proactively discover, manage, protect, and get more value from their regulated, sensitive, and personal data across their data landscape. BigID has received multiple awards for its data intelligence solutions. These include CNBC's 2022 Top 25 Startups for the Enterprise and Forbes Cloud 100 in 2021. Additionally, BigID has been recognized in the 2023 Inc. 5000 and Deloitte 500 for three consecutive years. The company was also named a "Market Leader Data Security Posture Management (DSPM)" in the 2023 Global InfoSec Awards and has won both the World Economic Forum Technology Pioneer and RSA Innovation Sandbox awards. Find out more at https://bigid.com.

SOURCE BigID