Introduction to AI Risk
Research by cybersecurity consultancy CyXcel has revealed a significant lack of preparedness among UK businesses when it comes to AI risk strategies. Despite a third of businesses recognizing AI as a potential cybersecurity threat, 29% of UK businesses surveyed have only recently implemented their first AI risk strategy, with 31% not having any AI governance policies set up. This blind spot in AI risk preparedness leaves businesses vulnerable to data leaks and breaches, operational disruptions, and regulatory fines.
The Risks of AI
Of those surveyed, 18% of UK and US organisations are unprepared for AI data poisoning, a form of cyberattack that targets the training data of AI and machine learning models. Moreover, 16% have no policies in place to fight cloning and deepfake incidents. This lack of preparedness is concerning, given the potential consequences of such attacks.
The Catch 22 of AI Adoption
Megha Kumar, Chief Product Officer and Head of Geopolitical Risk at CyXcel, stated that there is a catch 22 situation, where companies want to adopt AI solutions but simultaneously worry about its risks. “Organisations want to use AI but are worried about risks – especially as many do not have a policy and governance process in place.” This fear of risks is hindering the adoption of AI, despite its potential benefits.
CyXcel’s Digital Risk Management Platform
CyXcel’s Digital Risk Management (DRM) platform can help respond to mounting threats. “The CyXcel DRM provides clients in all sectors, especially those that have limited technological resources in house, with a robust tool to proactively manage digital risk and harness AI confidently and safely.” The platform combines cyber, legal, technical, and strategic expertise to help manage threats and improve digital resilience.
Features of the DRM Platform
The DRM platform provides strategies for – AI, Cyber, Supply Chain, Geopolitics, Regulation, Technology (OT/IT), and Corporate Responsibility, available through a dashboard where users can manage digitals risks using solutions proffered by the platform. Legal and technical insights come from expertise coded into the platform, so users can see trends, the potential impact of risks, and emerging threats. It advises on possible strategies for combatting danger and vulnerabilities.
Regulatory Compliance
The DRM also offers a “full-spectrum dispute resolution and litigation service” aimed at reducing the time needed for organisations to follow regulations and laws related to various digital threats. For businesses with strict regulations in place, CyXcel’s DRM covers 26 sectors legally required to follow regulations like the EU’s NIS2 and DORA (Digital Operational Resilience Act). These sectors are considered essential infrastructure, with each classified as Critical National Infrastructure (CNI) in regions like the US, UK, and EU.
The Evolving Landscape of Cybersecurity Regulation
CyXcel CEO, Edward Lewis, spoke on the evolving and complex landscape of cybersecurity regulation. “Governments worldwide are enhancing protections for critical infrastructure and sensitive data through legislation like the EU’s Cyber Resilience Act, which mandates security measures like automatic updates and incident reporting. Similarly, new laws are likely to arrive in the UK next year which introduce mandatory ransomware reporting and stronger regulatory powers.”
Conclusion
In conclusion, the lack of preparedness among UK businesses when it comes to AI risk strategies is a concern. The CyXcel DRM platform can help respond to mounting threats and provide strategies for managing digital risks. With the evolving landscape of cybersecurity regulation, it is essential for businesses to have a robust tool to proactively manage digital risk and harness AI confidently and safely.
FAQs
Q: What is AI data poisoning?
A: AI data poisoning is a form of cyberattack that targets the training data of AI and machine learning models.
Q: What is the CyXcel DRM platform?
A: The CyXcel DRM platform is a robust tool that provides strategies for managing digital risks, including AI, cyber, supply chain, geopolitics, regulation, technology, and corporate responsibility.
Q: What are the benefits of using the CyXcel DRM platform?
A: The benefits of using the CyXcel DRM platform include improved digital resilience, reduced time needed to follow regulations and laws, and access to legal and technical expertise.
Q: What sectors does the CyXcel DRM platform cover?
A: The CyXcel DRM platform covers 26 sectors legally required to follow regulations like the EU’s NIS2 and DORA (Digital Operational Resilience Act).
