AI is increasingly being used in businesses, with recent estimates suggesting that about 42% of companies are using AI in some way. While this can bring considerable benefits to both organisations and consumers by automating tasks, streamlining processes, and allowing greater personalization, the widespread use of AI comes with risks, especially if used without the appropriate safeguards or risk management in place.

Many AI systems also fall under the scope of existing laws in various jurisdictions, and several high-profile lawsuits have already been brought against companies using AI in ways that do not prioritise compliance.