Generative AI (genAI) adoption is outpacing corporate governance of the technology, with 75% of companies using genAI but only a third having responsible controls in place, according to consulting firm Ernst & Young (EY).
Though executives see the technology’s potential, about half admit their governance frameworks lag behind current and future AI needs. However, 50% are making major investments to address those gaps, EY’s “pulse survey” showed.
The survey of 975 C-level executives across 21 countries included CEOs, CIOs, CTOs, CFOs, chief human resource officers, chief marketing officers and chief risk officers. Most C-suite leaders plan to use emerging genAI within a year, but risk awareness lags, EY said. For example, 76% plan to use agentic AI, yet only 56% understand the risks; 88% use synthetic data, but just 55% know the risks, the consultancy found.
