Biggest US companies warn of growing AI risk

More than half of the US’s biggest companies see artificial intelligence as a potential risk to their businesses, according to a new survey of corporate filings that highlights how the emerging technology could bring about sweeping industrial transformation. Overall, 56 per cent of Fortune 500 companies cited AI as a “risk factor” in their most recent annual reports, according to research by Arize AI, a research platform that tracks public disclosures by large businesses.

Over two-thirds of Fortune 500 telecommunications companies and more than half of healthcare, financial services, retail, consumer and aerospace companies gave the same warning to investors. For example, Netflix, the $290bn streaming service, warned that competitors could gain an advantage over it by deploying AI, which would affect “our ability to compete effectively and our results of operations could be adversely impacted”.

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