The Strategic Role of AI in Governance, Risk and Compliance (GRC)
Security Boulevard, Monday, April 1st, 2024
In a 2023 survey of over 1,300 risk and compliance professionals across the globe, three out of ten respondents reported that their organizations have experienced a data privacy or cybersecurity breach in the past three years, a notable increase from 22% in 2022.
With cyberthreats evolving at an unprecedented pace, organizations are increasingly turning to artificial intelligence (AI) to bolster their GRC efforts - and rightly so. Organizations that used security AI and automation extensively reported $1.76 million lower data breach costs compared to ones that didn't use AI.
What's more, organizations using AI also experienced, on average, a 108-day shorter time to identify and contain data breaches, as per IBM's 2023 Cost of a Data Breach Report.