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The biggest US firms are worried about AI

Updated Aug 20, 2024, 6:26am EDT
techNorth America
FILE PHOTO: AI (Artificial Intelligence) letters and robot hand miniature in this illustration, taken June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
Dado Ruvic/Illustration/File Photo/Reuters
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More than half of Fortune 500 companies see artificial intelligence as a potential risk to their business, according to a review of their annual reports.

A new study found that 56% of the firms cited AI as a risk factor, a massive jump from 9% in 2022. The US’ biggest boardrooms aired their grievances about AI-driven competition, reputation harm, and ethical debates, with some industries — like entertainment — more worried than others, the Financial Times reported. But as large companies fret about AI, smaller startups are embracing it, The New York Times reported. One professor of entrepreneurship at Carnegie Mellon University told students: “Think of generative A.I. as your co-founder.”

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