The Cisco 2024 Data Privacy Benchmark Study found that more than one in four (27%) organizations prohibit the use of GenAI due to privacy and data security risks. 2023 was a breakout year for his GenAI, but Cisco research shows that a significant percentage of organizations have reliability issues with his GenAI.
The seventh edition of the Cisco Benchmark Study was compiled using data from more than 2,600 privacy and security professionals around the world. More than 90% of respondents believe that GenAI requires more advanced technology to manage data and risk.
Respondents’ top concerns included threats to their company’s legal and intellectual property rights (69%) and the risk of disclosing confidential information to competitors or the public (68%).
Organizations that have not completely banned GenAI are aware of its risks. 63% have set limits on the data that can be entered, and 61% have rules regarding the GenAI tools that employees can use.
Customers are also concerned about the use of AI involving their data. Cisco research also shows that 91% of organizations acknowledge customer concerns and admit they need to do more to reassure customers. However, customer confidence is similar to the level in Cisco’s last year’s report, meaning that no significant progress has been made.
“LLM (GenAI) is evolving companies’ digital transformation efforts and introducing new data privacy precautions that need to be addressed early. We are already receiving complaints about unintentional data privacy exposure, including sensitive personal information. Companies are looking to streamline knowledge management, gain desired efficiencies, and securely benefit from GenAI innovations. , data privacy must be implemented by design,” said Ravi Srinivasan, CEO of Votiro.
The importance of data security and privacy is evident in organizations’ increasing spending on privacy. Over the past five years, spending on privacy has more than doubled. A high percentage of respondents (95%) said the average organization is reaping benefits for 1.6 times more than their spend and that privacy benefits are starting to pay off.
“94% of respondents said their customers would not make a purchase if their data was not properly protected,” explains Harvey Jiang, vice president and chief privacy officer at Cisco. External certifications and laws play an important role in reassuring customers that their data is safe because they provide hard evidence that your organization can be trusted.
a Recently published reports A study by LinearB, a leader in software delivery management solutions, into the impact of GenAI on the software delivery lifecycle also shows that security is the top concern, followed by compliance and quality.
Concerns decrease sharply across the board as GenAI adoption increases. This means that organizations that are statistically hesitant to adopt GenAI are less likely to trust the technology. However, once you reach a more advanced stage of implementation, some of your concerns will be alleviated.
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last year, gartner survey GenAI’s risk showed a similar trend. Fifty-seven percent of respondents said they were concerned about their AI-generated code being compromised, and 58 said they were concerned about inaccurate or biased output.
93% of IT and security leaders say they are involved in the security of their organization’s GenAI, but only 24% say they have this responsibility.
The report also highlights some of the tools organizations use to address the risks associated with GenAI. The most popular tools included AI application security, ModelOps, and privacy-enhancing technology (PET).
Additionally, several studies show that organizations remain cautious about adopting GenAI, even though the demand for it has skyrocketed. The immediate threat of stricter compliance doesn’t help either. However, as your organization moves into the implementation phase, your organization’s confidence should increase.
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