Industry executives and experts share their predictions for 2024. Read them in this 16th annual VMblog.com series exclusive.
AI and Data Security Predictions for 2024: Balancing Innovation with Governance
By Ani Chaudhuri, Co-Founder & CEO of Dasera
As we stand at the threshold of 2024, the business world is poised to witness a further intertwining of Artificial Intelligence (AI) and business operations. As a veteran in the tech industry, I’ve observed firsthand the transformative impact of AI across various sectors. This coming year, we are set to see not only technological advancements but also a profound shift in how we approach AI governance and data security.
1. The Rise of Generative AI in Business: Recently, we have seen a surge in generative AI (genAI). In 2024, as companies increasingly experiment with and deploy genAI tools, the need for robust governance structures to manage the accompanying risks becomes paramount. Enterprises, especially those in manufacturing, are leading this charge, embracing AI to drive innovation in Industry 4.0.
2. Data Breaches Linked to AI-Generated Code: A significant prediction for 2024 is the likelihood of at least three major data breaches being publicly attributed to AI-generated code. The use of TuringBots and similar AI development assistants is becoming commonplace, but without adequate security measures, these tools could introduce vulnerabilities, exposing businesses to considerable risks.
3. Regulatory Scrutiny and Fines: Regulatory bodies are intensifying their focus with the increasing use of AI applications like ChatGPT. In 2024, we may see applications fined for mishandling Personally Identifiable Information (PII), highlighting businesses’ need to strengthen their third-party risk management and data governance policies.
4. AI as a Key Component of Enterprise Data Protection: AI will increasingly be seen as an integral part of enterprise data protection strategies. AI and machine learning (ML) will aid in identifying and protecting sensitive data and understanding and mitigating risks at a granular level.
5. Data Regulations in a Global Context: As businesses expand internationally, they must navigate an increasingly complex web of global data regulations. Ensuring compliance while maintaining data security and privacy becomes more crucial than ever.
As 2024 approaches, the intersection of AI and business operations becomes increasingly crucial, demanding a balance between innovation and governance. Key trends include the rise of generative AI in businesses, particularly in manufacturing, and the associated need for robust governance. A notable concern is the potential for major data breaches linked to AI-generated code, necessitating stronger security measures. Additionally, increased regulatory scrutiny on AI applications, especially regarding data privacy, highlights the need for improved risk management and data governance. Finally, as businesses go global, navigating complex international data regulations while ensuring data security and privacy becomes imperative.
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ABOUT THE AUTHOR
Ani Chaudhuri is an award-winning executive and entrepreneur with a track record of building successful products, businesses, and teams. Ani is driven to bring meaningful solutions to market and has founded four technology companies: eCircle, acquired by Reliance in India; Opelin, acquired by Hewlett-Packard; Whodini, acquired by Declara; and Dasera. Before Dasera, Ani worked at McKinsey, HP, and Tata Steel.
