The Challenge of AI Governance: The Blessing and the Curse of Safeguarding Personal Data
"Organizations must strike a balance by harnessing the benefits of AI while remaining vigilant against employee complacency and the exploitation of automated systems," write Frances M. Green and Karen Mandelbaum.
October 02, 2024 at 02:00 PM
13 minute read
In the contemporary digital landscape, artificial intelligence (AI) can serve as both a guardian and a threat to personal data. AI technology holds the promise of enhanced security and efficiency. The proliferation of generative AI presents unique challenges that can compromise sensitive personal information. Not surprisingly, the McKinsey Technology Trends Outlook of July 2024 named generative AI at the top of 15 notable trends—with a spike of almost 700% in Google searches from 2022 to 2023, with applied AI and industrialized machine learning also named—but digital trust and cybersecurity is not far behind. This article explores the double-edged sword, the blessing and the curse, so common to the use of AI, in the context of personal data: 1) cybersecurity and the ransomware threat; 2) how AI can safeguard personal data, with innovative solutions that improve data protection; 3) AI and interoperability; 4) the risks, challenges, and positives associated with AI in protecting personal data; and finally, 5) the importance of creating a culture that understands these risks while exploring ways to mitigate them.
I: The Problem: From Cyberthreats to Ransomware
On Aug. 29, 2024, a number of government agencies issued a joint cybersecurity advisory to warn about known ransomware being used by RansomHub—which, since its inception in February 2024, has encrypted and exfiltrated data from more than 210 entities in various industries and sectors. The full extent of the damage is still ongoing. While many types of organizations have been impacted, the health care industry faces unique challenges driven by the need for digital connectivity, exposing the industry to be targeted by cybercriminals. High-profile incidents like the Change Healthcare attack underscore why the health care industry is one of the most lucrative targets for cybercriminals, stemming from the critical nature of health care operations and the value the data can fetch—either from the willingness of health care organizations to pay ransoms, or on the dark web.
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