Addressing AI Risks: Best Practices for Proactive Crisis Management

An essential element of effective crisis management is preparing for both visible and hidden risks. A recent report by Riskonnect, a risk management software provider, warns that companies often overlook the potential threats associated with AI. Although AI offers tremendous benefits, it also carries significant risks, especially in cybersecurity, which many organizations are not yet prepared to address. The survey conducted by Riskonnect shows that nearly 80% of companies lack specific plans to mitigate AI risks, despite a high awareness of threats like fraud and data misuse. 

Out of 218 surveyed compliance professionals, 24% identified AI-driven cybersecurity threats—like ransomware, phishing, and deepfakes — as significant risks. An alarming 72% of respondents noted that cybersecurity threats now severely impact their companies, up from 47% the previous year. Despite this, 65% of organizations have no guidelines on AI use for third-party partners, often an entry point for hackers, which increases vulnerability to data breaches.

Riskonnect’s report highlights growing concerns about AI ethics, privacy, and security. Hackers are exploiting AI’s rapid evolution, posing ever-greater challenges to companies that are unprepared. 

Although awareness has improved, many companies still lag in adapting their risk management strategies, leaving critical gaps that could lead to unmitigated crises.

Internal risks can also impact companies, especially when they use generative AI for content creation. Anthony Miyazaki, a marketin

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