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Is generative AI a blessing or a curse?
The short answer is that

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it is both. For example,
think about the potential for training

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and skills development.
From a reporting perspective,

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we are seeing the output
of greater insights and speed of real-time

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reporting, which empowers decision-making.

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An increasingly common experience is

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with chatbots that are designed to engage
and answer questions

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and even provide guidance and insights.
From a risk management perspective,

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generative AI is very helpful
in the drafting and updating

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of policy documents, improving compliance,
and providing guidelines.

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Business can also benefit
from the use of generative

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AI in control testing.
Let's talk about the risks.

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The speed of adoption of generative
AI is accelerating the potential

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for bad actors and criminals
to learn about and exploit business risks.

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For example, we are already seeing more
advanced phishing and scam attacks

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that are using highly authentic
human content.

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And the threat that is making
a lot of news headlines recently

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is how generative AI has the potential

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to accelerate the violation of copyright
and intellectual property

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ownership, as well as disclosure
of confidential information.

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Generative AI has the potential to disrupt
nearly every industry.

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It promises both competitive advantage
and exposes companies

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to a whole series of new risks
that previously were not considered.

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Without a doubt, generative AI will
change the way we do business forever.

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We at BCG are uniquely positioned

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to support our clients in this journey

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to implement
and scale the usage of GenAI.