Hyperproof Releases 2024 IT Risk and Compliance Benchmark Report

• AI in cybersecurity presents significant risks, such as enabling cyberattacks, and opportunities, such as enhancing defense mechanisms.
• Regulatory frameworks like NIST AI RMF are increasingly adopted to manage AI risks, with industry-specific concerns especially pronounced in sectors like banking, health tech, and aviation.
• Organizations use AI to optimize workflows, with 61% employing AI for control recommendations and 59% for reviewing documentation, signaling its growing role in streamlining governance, risk, and compliance (GRC).

Hyperproof’s 2024 Benchmark Report highlights AI’s dual role in cybersecurity, showing how AI can both enable sophisticated cyberattacks and improve security defenses. While 39% of respondents are concerned about AI risks, 61% see AI as a valuable tool for enhancing cybersecurity measures like control recommendations and documentation reviews. The report emphasizes the importance of vigilant AI management, noting the growing complexity and risks associated with AI-driven technologies such as generative AI, which has raised concern across various sectors like banking and health tech.

Global regulatory frameworks, like the NIST AI Risk Management Framework (RMF), are increasingly used to address these challenges, with 23% of organizations adopting NIST’s Cybersecurity Framework to manage AI risks. Many organizations are incorporating AI into their GRC strategies, with 80% viewing AI as crucial for enhancing security operations. This includes conducting regular audits, revising controls, and integrating AI monitoring tools to mitigate risks. However, strategic alignment between AI capabilities and business objectives remains critical to achieving operational efficiency while safeguarding against emerging threats.

The report encourages organizations to embrace AI cautiously, balancing its potential to streamline processes with the risks it introduces. By adopting robust frameworks and aligning AI strategies with regulatory requirements, organizations can leverage AI’s power to strengthen security while ensuring resilience in an increasingly AI-driven landscape.

Read the full report