The AI concern KPMG's US CEO keeps hearing from executives
Cyber risks are rising
Corporate leaders see promise in AI, but cybersecurity is becoming a growing concern. Walsh told Business Insider that cyber risks have risen to unprecedented levels.
Survey highlights executive concerns
A recent KPMG US survey questioned 400 CEOs at major US companies. Although respondents expressed confidence in AI's potential, cybersecurity was the risk they mentioned most often. Eighty-five percent said cybercrime and cyber insecurity could affect company prosperity within three years. That exceeded the shares who cited inflation, geopolitical tensions, the pace of technological change, or other risks.
KPMG plans a new offering
They cited threats such as AI-powered social engineering, AI-assisted phishing or malware, and risks to data and privacy involving AI agents. Walsh said KPMG is building an AI-centered managed cyber-defense business for clients, describing it as a “shield and defense mechanism.” KPMG already has a cybersecurity business, Walsh said, but the planned service would be a different offering built around AI. He said the opportunity could be worth more than $1 billion.
Key points
- Cybersecurity was the most frequently named concern in a survey of 400 CEOs.
- Eighty-five percent said cybercrime and cyber insecurity could affect prosperity within three years.
- Nearly half planned to raise cybersecurity investment over the next three years.
- KPMG is developing a distinct AI-centered cyber-defense service for clients.