Security News > 2024 > February > Businesses banning or limiting use of GenAI over privacy risks

Findings from a new Cisco study highlight the growing Privacy concerns with GenAI, trust challenges facing organizations over their use of AI, and the attractive returns from privacy investment.

Most organizations are aware of these risks and are putting in place controls to limit exposure: 63% have established limitations on what data can be entered, 61% have limits on which employees can use GenAI tools, and 27% said their organization had banned GenAI applications altogether for the time being.

"They are looking for hard evidence the organization can be trusted as 98% said that external privacy certifications are an important factor in their buying decisions. These stats are the highest we've seen in Cisco's privacy research over the years, proving once more that privacy has become inextricably tied to customer trust and loyalty. This is even more true in the era of AI, where investing in privacy better positions organizations to leverage AI ethically and responsibly."

Despite the costs and requirements privacy laws may impose on organizations, 80% of respondents said privacy laws have positively impacted them, and only 6% said the impact has been negative.

Over the past five years, privacy spending has more than doubled, benefits have trended up, and returns have remained strong.

Smaller organizations saw lower investment, for example, businesses with 50-249 employees, decreased their privacy investment by a fourth on average.

News URL

https://www.helpnetsecurity.com/2024/02/05/businesses-banning-limiting-genai-privacy-risks/