Businesses Adopt AI Quickly but Lag on Risk Management
A new survey by Nationwide reveals that small and mid-market businesses are rapidly adopting artificial intelligence tools for work-related tasks, yet many lack formal policies or training to manage the associated risks. Six in ten business owners report employees use public AI chatbots or writing tools at work, but only about a third have written guidelines on responsible usage. The survey also highlights growing concerns over unauthorized tool use and data exposure. Nearly one-third of businesses say they've been targeted by generative-AI scams within the past year, with cybercriminals leveraging similar technology to launch more sophisticated attacks. Despite these threats, only 35% of business owners have updated incident response plans in place. Experts warn that as AI adoption increases, so does the need for clear policies and employee education. The survey underscores a critical gap between technological integration and risk preparedness among small businesses. With over 80% acknowledging they require more resources to defend against AI-enabled cyberattacks, there is an urgent call for improved cybersecurity strategies and regular reassessment of insurance coverage.
Topics: Artificial Intelligence Cybersecurity Regulation and Compliance Small Business Management