Cyberattacks are one of the main factors that can cause business disruptions, with online extortion being a common cause. Hackers encrypt a company's computer systems, disable them, and demand large sums for decryption. Alexandra Brown, head of Allianz Commercial, explained that artificial intelligence operates with a degree of autonomy, meaning its outputs can be incorrect or fabricated. Errors or biased results can lead to lawsuits, negative media coverage, or reputational damage. Additionally, AI can infringe copyright by copying protected materials without permission. The risk of business interruption ranked third among the top threats facing companies this year. Michael Daum, head of Cyber Claims at Allianz Commercial, noted that most attacks still require human intervention, where an employee activates the attack. Meanwhile, other risks can arise from the legitimate use of AI within companies. German insurance giant Allianz stated that artificial intelligence has become one of the biggest threats companies face globally. According to the annual 'Risk Barometer' released on Wednesday, AI jumped from tenth to second place after cybercrime this year. The report states that the risks of AI and cybercrime are increasingly linked, with criminals using AI to enhance their attack capabilities. However, AI can pose a threat without malicious intent. Most companies see it as an opportunity, including the potential to develop automated defensive capabilities against malicious cyberattacks. Allianz reports an increase in cybercriminals' use of AI in social engineering, where they impersonate executives to trick employees through personalized emails, voice cloning, or even generating deepfake videos. For example, if managers or employees use it to make decisions based on inaccurate or misleading data. The study, conducted over October and November last year, included 3,338 people across 79 countries, including corporate leaders, risk consultants, insurance lawyers, brokers, industry specialists, and Allianz employees. The ranking of business risks varied by country. AI ranked fourth in Germany, second in Switzerland, and first in Austria. AI technology is a double-edged sword.
