Summary
The rapid growth of AI in the workplace is outpacing the level of control and oversight companies have over its use, as shown by a survey from Grant Thornton. Many organizations are adopting AI quickly, but few are confident in their ability to meet audit standards for AI governance, which could lead to problems in the future.
Key Facts
- A survey by Grant Thornton found that AI adoption is rising faster than oversight in workplaces.
- 8 out of 10 executives said their company could not pass an AI governance audit.
- Only 7% of companies piloting AI are confident they could pass an audit in 90 days.
- Companies with fully integrated AI report revenue growth at a higher rate (58%) than those just piloting AI (15%).
- 75% of company boards have approved major AI investments.
- Nearly half of the companies haven't set governance expectations or integrated AI risk oversight.
- Companies that don't manage AI controls and risks may face performance and risk issues.
- There is a growing concern about the need for effective AI governance as AI technology becomes more independent.
