A recent survey by corporate insurer Axis Capital highlights a growing split among top executives regarding the cyber risks and benefits brought by advanced AI technology. While artificial intelligence is accelerating the development of stronger cybersecurity defenses, it simultaneously empowers cybercriminals with sophisticated tools, introducing new and complex risks.
“AI is not just a cyber challenge; it brings unique burdens, liabilities, and opportunities that CEOs and boards must navigate,” Axis CEO Vincent Tizzio told CNBC in an exclusive interview.
Axis surveyed 250 CEOs and chief information security officers (CISOs) from the U.S. and U.K. to understand how AI is reshaping the cyber risk landscape. The results showed a clear divide: CEOs tend to see AI as a productivity booster and competitive advantage, whereas CISOs often view it as a source of increased vulnerabilities, including data breaches.
When asked about their confidence in AI strengthening their company’s cybersecurity, only 19.5% of CEOs admitted lacking confidence, compared to a higher 30% of CISOs expressing doubts.
“The pace of AI’s evolution mean
s companies need to continuously reevaluate the security tools they adopt,” Tizzio explained.
The survey also revealed regional differences in attitudes toward AI. While the majority of executives in both countries view AI positively, U.K. leaders are notably more cautious. About 85% of U.S. executives feel prepared to handle AI-related threats, but only 44% of their U.K. counterparts share that confidence.
As ransomware attacks have nearly doubled in the last two years, cybersecurity remains a top priority. The survey found that 82% of respondents plan to increase their cybersecurity budgets within the next year.
“I’ve yet to meet a CEO or board member who doesn’t emphasize the critical importance of managing cyber risk to protect their company’s health,” Tizzio said.
A survey reveals that CEOs and security leaders are split on the cyber risks posed by AI, underscoring the complex challenge organizations face in balancing innovation and protection in an AI-driven world.
