The majority of businesses acknowledge AI’s potential risks, yet only a small portion have established comprehensive controls surrounding its use.
This is according to new findings from Sapio Research examining both consumer and employer attitudes towards AI across Europe.
The report surveyed 800 consumers and 375 business decision-makers responsible for their finance department, with respondents from the UK, Germany, France and the Netherlands.
Sapio’s Finance Pulse 2024 Report revealed that 93% of organisations are aware that AI carries potential risks, with top perceived risks including data security (43%), lack of accountability and transparency (29%) and skills gaps for safe and effective use (29%).
However, despite high awareness of its potential pitfalls, only 46% of the businesses surveyed have formal guidance in place for the acceptable use of AI for employees at work.
In addition, less than half (48%) have restrictions on what data can be inputted into AI models and tools at work and less than two in four (38%) have any strict access limitations.
Andrew White, CEO and Co-founder of Sapio Research, said: “AI remains a top investment priority for businesses across Europe. However, its arrival and integration into the workplace has been fast, leaving some employers ‘in the dark’ about how their staff are using it, and many struggling to put the correct measures in place to govern it.”
The majority of businesses surveyed have plans to use AI within the next two years (75%). The use of Generative AI is particularly pronounced in finance (63%) roles.