Four in 10 executives cite risk management as a factor behind responsible AI investment

Key stat: Some 44% of US executives have invested in responsible AI practices to holistically manage the risks involved with using the technology, according to an August 2024 report by PwC.

Beyond the chart:

• Other top factors include building trust with external stakeholders (39%) and meeting regulatory and compliance requirements (39%). However, just over half (58%) of respondents have completed a preliminary assessment of AI risks, the same PwC report found.
• To manage AI risks, business leaders worldwide have established a governance framework for its use (51%), monitor regulatory and compliance requirements (49%), and conduct internal audits and testing of its applications (43%), according to a August 2024 report by Deloitte.

Use this chart: Executives can use this chart to justify increased investment in responsible AI practices.

Related EMARKETER reports:

• Generative AI for Ad Creative (Subscription required)
• GenAI User Forecast 2024 (Subscription required)

Methodology: Data is from the August 2024 PwC report titled "2024 US Responsible AI Survey." 1,001 US executives at companies that use or plan to use AI were surveyed during April 2024. Respondents included those in business roles (n=500) and those in technology roles (n=501). The survey reached public and private companies in 6 industries: financial services (24%), health (21%), tech/media/telecom (17%), consumer markets (14%), industrial products (13%), and energy/utilities/mining (12%).