Most Canadian Businesses Need an Action Biased Strategy to Maximize AI Benefits and Manage Risks: New Bell Study

• About 60 per cent of Canadian organizations that have adopted AI, have limited to no AI strategy in place to guide deployment, risks and expected value.
• Reducing and automating tasks is the top GenAI use case amongst Canadian businesses, followed by drafting and editing documents.
• Improved quality of product (54 per cent) and a decreased time to market (52 per cent) have been cited as key return on investment areas for early GenAI adopters.

MONTRÉAL, Nov. 14, 2024/CNW/ - According to a new Bell study released today, about 60 per cent of Canadian businesses that have adopted AI have limited to no AI governance strategy in place to guide deployment, risks and expected value. While more professionals are leveraging AI at work, there is a growing need for Canadian businesses to have strategic support to maximize the benefits and manage risks.

Bell's study, "Navigating the Generative AI and Cybersecurity Journey" brings together survey findings from 600 business leaders, information technology and security professionals of medium to large-scale enterprises from diverse industries. The findings illustrate how organizations have adopted GenAI in the workplace, and where they have found the technology most beneficial. The report also offers a clear view of the apparent threats AI may bring to businesses, and how organizations can implement early safeguards to avoid pitfalls.

The 2024 study found:

• Canadian professionals have warmed up to using GenAI. Tools like ChatGPT, have made the use of AI a habit. Bell found 71 per cent of professionals at medium to large enterprises are using GenAI to some degree, and 41 per cent use it on a regular basis.
• The retail industry leads in GenAI adoption. While some industries are still in the exploratory phase of determining the best use cases for GenAI, retail has leaned in, adopting the technology for production use, including customer-facing applications and inventory management. Retail is followed by manufacturing and infrastructure/media, together making up the top three industries of early GenAI adopters.
• Early GenAI adopters are concerned about cybersecurity threats. One third of Canadian organizations are concerned that bad actors may access and tamper with their AI systems. Early adopters also expressed concerns that bad actors may steal sensitive data (25 per cent) or leverage their AI systems to inject or manipulate input to bypass filters (10 per cent).
• Professionals are focused on proactively mitigating the security, legal and reputational risks that GenAI may present before fully adopting. About three in four professionals say potential risks have slowed the adoption of GenAI in the workplace fairly significantly, while other organizations have moved ahead by implementing safeguards like classifying data; but 60 per cent of the surveyed organizations report they have classified less than 50 per cent of their sensitive data, which will pose a challenge as AI adoption flourishes and risks grow.

It's clear that GenAI is set to revolutionize the workplace, optimizing nearly all business processes and functions. Adopting AI does bring clear benefits but should be implemented using a methodical approach to avoid risks. Organizations that prioritize governance, a multi-dimensional approach to security risk, and improving threat detection using AI to manage risks will see the best outcomes. This is something that Bell's professional governance, risk and compliance cybersecurity services have been successful at supporting enterprise customers in achieving.

"Bell's study confirms that as adoption of generative AI continues to increase, it is more important than ever for organizations to have strong governance, safeguards and data security. With this in place, the benefits of AI are unlimited."

- John Watson, Group President, Business Markets, AI & FX Innovation, Bell

The full report can be found at Bell.ca/Cybersecurity.

About the survey
Bell conducted the AI security survey with the help of Maru Research, collecting 600 responses from business leaders, IT and security professionals working at a company of at least 100 employees in size. The survey was fielded between Sept. 3, 2024, to Sept. 13, 2024, in both English and French. The survey is a diverse representation of Canada's organizations across the country in various industries. Respondents were evenly split between IT/Security professionals and business leaders.

About Bell
Bell is Canada's largest communications company,¹ providing advanced broadband Internet, wireless, TV, media and business communication services. Founded in Montréal in 1880, Bell is wholly owned by BCE Inc. To learn more, please visit Bell.ca or BCE.ca.

Through Bell for Better, we are investing to create a better today and a better tomorrow by supporting the social and economic prosperity of our communities. This includes the Bell Let's Talk initiative, which promotes Canadian mental health with national awareness and anti-stigma campaigns like Bell Let's Talk Day and significant Bell funding of community care and access, research and workplace leadership initiatives throughout the country. To learn more, please visit Bell.ca/LetsTalk.

Media inquiries:
Tianna Goguen
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Investor inquiries:
Richard Bengian
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SOURCE Bell Canada

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