Despite perceived AI as a major threat, many risks remain unprepared to manage AI risks, as 30% of UK organizations are named as the top three risks.
Nevertheless, new Cyxcel research highlights new research into gaps. Almost a third of the UK companies surveyed have just implemented their first AI risk strategy (29%), while 31% have not implemented AI governance policies.
This significant gap puts organizations at substantial risk, particularly as AI threats grow and continue to evolve rapidly, including data breaches, regulatory fines, reputational damage and serious operational disruptions.
A Cyxcel survey shows that 18% of UK and US companies surveyed are a type of cyberattack targeting AI data addiction, AI and machine learning models training datasets, and are not prepared for Deepfake or Cloning Security Incident (16%).
Manage AI risks in critical sectors
Definitively responding to these threats and geopolitical challenges, Cyxcel has launched its Digital Risk Management (DRM) platform. This provides businesses with insight into the evolving AI risk across all key sectors, regardless of business size or jurisdiction.
The DRM platform helps organizations identify risks and implement appropriate policies and governance to mitigate them. Unlike traditional products, it uniquely combines cyber, legal, technical and strategic expertise developed over decades with companies from many sectors and following best practices.
Megha Kumar, Chief Geopolitical Risk Officer and Head of Geopolitical Risk at Cyxcel, commented:
“The DRM platform provides clients with limited technical resources, especially those with robust tools to proactively manage digital risk and use AI confidently and safely.”
DRM monitors threats to digital operations and provides deep insights and actionable strategies across seven categories: AI, cyber, geopolitics, supply chain, technology (OT/IT), regulation, and corporate responsibility.
Fits digital resilience to business operations
Digital risk management platforms provide business insights from both legal and technical experts, enabling individual risk owners to gain targeted visibility into risk intensity, critical trends, and emerging threats.
Additionally, it provides guidance on how risk owners manage AI risks and align their digital operations investments with business goals.
For example, you can help organizations develop AI governance policies and assess AI systems for security, privacy, and technical vulnerabilities.
Cyxcel CEO Edward Lewis said:
“Governments around the world are increasing the protection of critical infrastructure and sensitive data through laws, including the EU’s Cyber Resilience Act, which requires security measures such as automatic updates and incident reporting.
“Similarly, new laws could be introduced in the UK next year, including strong authority to report and regulate mandatory ransomware. With new standards and controls continuing to emerge, it is essential to stay up to date.”
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