Risks and rewards of bring your own AI

9 Oct 2024

The transformative impact of AI on productivity is indisputable. Recent research indicates that the use of AI can boost productivity by 20% to 70%, with up to 75% of global knowledge workers incorporating these tools. Despite recognising AI's significance, global business leaders are anxious about their organisation’s preparedness to implement AI effectively. While IT departments hurry to create best practices and ethical usage guidelines, many employees are already integrating AI tools into their workflows.

This trend, dubbed BYOAI (Bring Your Own AI), illustrates the growing use of free AI tools like ChatGPT at work.

In SMEs, up to 80% of employees from various generations are using AI in some capacity, even though more than half are reluctant to admit to using these tools.

This reservation, fuelled by fears concerning job security and perceptions of replaceability, results in largely unregulated AI usage.

The benefits of BYOAI are hard to ignore.

Balancing innovation with risk

AI can significantly reduce time spent on repetitive tasks, allowing for greater creativity and innovation.

But this usage also comes with substantial risks and companies are struggling to implement the necessary guardrails, they face growing vulnerabilities.

As many as 85% of generative AI (GenAI) users, for instance, admit to unintentionally exposing company data in recent months, raising serious concerns.

The issues go beyond security concerns such as data breaches, intellectual property theft and information leakage.

BYOAI tools may also fail to comply with industry regulations or data privacy laws, exposing organisations to legal risks.

Additionally, the potential for bias in AI algorithms, coupled with inconsistent training on AI tools, can lead to ethical dilemmas, reputational damage, and an overall compromised quality of work.

A clear path

Addressing these challenges requires a comprehensive and clearly communicated BYOAI policy that defines the acceptable use of personal AI tools, sets data security requirements, and ensures compliance with industry standards.

A robust security policy must outline strict protocols regarding data access, encryption standards, and vulnerability management.

Continuous monitoring and threat detection frameworks should be implemented to safeguard against potential breaches.

Regular audits are also essential to verify compliance with industry regulations, and oversight measures should be in place to mitigate the risks of bias in AI applications.

Consistent quality

Ensuring consistent quality and output demands that employees receive proper training and education on using AI technologies.

Alongside this, the policy should include integration strategies that facilitate seamless compatibility of AI tools with existing systems.

Above all, this policy must be clearly communicated to all employees and consistently enforced across the organisation.

As industries increasingly adopt AI, platforms that bring advanced capabilities directly to the network's edge offer faster processing and reduced energy consumption.

Global market

The global market for these edge tools is projected to reach $200bn, and IoT industry leaders are well-positioned to seize a significant share of that.

In South Africa, the GenAI market is expected to grow at an annual rate of 46.78%, reaching a market volume of $3bn by 2030.

The trajectory is clear: AI is here to stay, and employees will continue to integrate these tools into their work, whether organisations are ready or not. Instead of imposing unrealistic barriers, businesses should establish clear policies that harness the benefits of AI while safeguarding against potential risks.

As we move toward smarter, more connected operations, AI will continue to reshape the business landscape, driving the next wave of innovation in IT/OT convergence.

The future belongs to those who can balance the power of AI with the wisdom to manage its risks.