Only 1% of APAC companies are prepared to deal with AI related risks: Accenture report

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A study released by IT services giant Accenture on February 26 showed that only 1 percent of enterprises in APAC region including India are prepared with responsible AI capabilities and dealing with risks related to compliance, privacy and data; even as companies are scaling AI adoption.

In fact, 9 out of 10 organisations plan to use agentic AI models over the next three years, the report said. Additionally, there will be a 5X increase in companies making significant investments in responsible AI, from 10% to 50% in the next two years.

“To effectively scale AI, particularly generative and agentic AI, businesses need to invest in building trust among their people and their customers, ensure they have the right data foundation, and operationalize responsible AI. That’s the only way of creating long term, sustainable value,” said Ryoji Sekido, Co-CEO of APAC and CEO of Asia Oceania, Accenture.

According to the report around 57% of APAC companies cite privacy and data governance as the top-rated risk, followed by security which is cited by 53%. Around 48% of APAC companies surveyed see responsible AI as a strategic tool for AI-related revenue growth.

Saurabh Kumar Sahu, MD and Lead for India Business, Accenture said, “As businesses in India increasingly embrace AI and generative AI, the importance of responsible AI adoption cannot be overstated. Ensuring human-centered, fair, safe, and sustainable AI is crucial for building trust and driving the right outcomes.”

To these findings, Accenture recommended CXOs to establish AI governance and principles, conduct AI risk assessments, enable systemic responsible AI testing, implement ongoing monitoring and compliance, and address workforce impact, sustainability, privacy, and security.

“The Government’s IndiaAI mission is a strategic step in this direction. For India to emerge as a global leader in AI, all stakeholders must collectively focus on three essential pillars – responsible AI development and deployment across the entire value chain, skilling at scale, and wide scale adoption,” Sahu added.