Concerns over data security and privacy have led more than one in four enterprises to outlaw generative AI. 69% of firms worry threats to their legal and intellectual property rights, and 68% fear the risk of information leakage, according to the Cisco 2024 Data Privacy Benchmark Study. Businesses need more data assurance; 91% of them agree.
According to a research, generative AI (GenAI) has been prohibited by more than one in four organizations due to privacy and data security concerns. Due to concerns about data security and privacy, the majority of businesses are restricting the use of GenAI, and about 27% have outright prohibited it (at least temporarily).
As to the findings of the “Cisco 2024 Data Privacy Benchmark Study,” businesses’ primary worries have been identified as the potential threats to their legal and intellectual property rights (69%) and the possibility of their information being disclosed to competitors or the public (68%).
Although 48% of companies acknowledge using GenAI technologies to access confidential company data, 91% of companies acknowledge that they need to do more to reassure customers that their data is being used in AI for intended and legal purposes.
The biggest percentage of respondents in years, over 98%, stated that external privacy certifications play a significant role in their purchasing decisions.
According to Cisco Chief Legal Officer Dev Stahlkopf, “organizations see GenAI as a fundamentally different technology with novel challenges to consider.”
“More than 90% of participants think that new approaches to data and risk management are necessary for GenAI. Here’s when careful governance becomes useful. It’s essential to maintaining consumer trust,” Stahlkopf continued.
The majority of organizations have procedures in place to reduce exposure since they are also aware of these hazards.
Roughly 63% of companies have set restrictions on the kind of data that can be entered, and 61% have limited which staff can utilize GenAI products.
Concerns regarding AI using their data are currently present among consumers. However, 91% of organizations acknowledge that more needs to be done to ensure clients that their data is only being used in AI for intended and legal purposes.
The report stated that as they are comparable to the levels from the previous year, not much improvement has been made.
Conclusion
For privacy and data security reasons, more than one in four enterprises have outlawed generative artificial intelligence (GenAI). 69% of firms worry threats to their legal and intellectual property rights, and 68% fear the possibility of information leakage, according to the “Cisco 2024 Data Privacy Benchmark Study.” Even though 48% of firms acknowledge using GenAI tools to access confidential company data, 91% of companies understand that they must ensure clients that their data is being used for appropriate purposes. The majority of companies have procedures in place to reduce exposure because they are aware of these hazards.
