CEOs: Act Now on AI Risks

If your company has a clean bill of health, will you go off the cyber hygiene diet and gain back the extra cyber risks from AI?

THE UNEXPECTED PATH

A brilliant friend of mine, the CEO of a nearly $1 billion company, invited me to his office in downtown Chicago last week.

On my way there, I reflected on the great exchange of ideas we shared in college and law school and how he had achieved everything he’d set out to do. I had taken the road less traveled and moved abroad to work overseas for nearly twelve years followed by a less traditional career path. I assumed he did not understand the forks in the road I had taken.

As soon as I saw him, it felt like time had never passed. Some bonds are never broken even after many years have passed. This was one of those bonds.

After sharing updates about family and friends, he cut to the chase. He was considering taking an unexpected path and wanted my input. He surprised me with his request.

A top university in Chicago invited him to join and head up an innovative new cross-functional department, AI Leaders of the Future. This would be a joint program from the College of Law, Business, and Computer Science. The latter had been lagging behind other top universities in the US.

His years of lecturing on the university circuit and his business, law, tech, and cybersecurity expertise would bring tremendous value to the role. Yet, this would be a life-changing decision.

Apart from the family considerations, and the legal fine points that would need to be addressed, he asked me to play devil’s advocate, something we did all the time studying together. For this, we headed to our favorite steak restaurant, Gibsons on Rush Street.

On the ride over, I quickly thought about his likely PLAN as CEO compared to the University Department Head:

Purpose: Deliberate intentions in addressing AI opportunities and risks. ?

Leadership: Leadership in navigating the complexities of AI and driving meaningful change.

Action: Actions aligned with their intention to balance the pros and cons of AI integration.

Now: Emphasis on the urgency and timeliness of addressing AI opportunities and risks.

For me, the crucial questions center around risks and benefits:

Losses or Risks:

The loss to his company and all the people involved.

The loss of his corporate identity and status.

Gains or Benefits:

Teaching and inspiring the next generation of leaders about the future of work in the AI era.

More time for family and friends?

Counter-Offer:

Could he propose to keep his role as CEO and teach courses? He was doing that already.

The Heart of the Matter:

Whatever was stirring inside him made him seriously contemplate accepting the offer.

After we ordered our steaks, we dove into the analysis. By the end of the meal, I was stunned to learn how much pressure is placed on CEOs’ shoulders, first due to cybersecurity concerns and now exacerbated by AI concerns.

Perhaps the timing was right, and he could not pass up the opportunity to teach future leaders to adapt to changes we cannot yet envision.

The offer is his until the end of the month. I think he will accept the offer.

Why It Matters:

To hear about this pressure-cooker from one of the smartest people I’ve known, put things in perspective. Talent retention and acquisition in cybersecurity and artificial intelligence could become much broader than I had contemplated, including at the CEO and C-suite levels.

We need to prepare leaders for what lies ahead in the AI era, and we need people to teach them. If not, we will fail to keep pace with inevitable changes in the future of work.

Talent Corner

Cybersecurity Talent Dilemma ?

LinkedIn News Europe reported that the appetite for cybersecurity specialists is falling in several major economies.

In Europe, France saw a 4.5% year-over-year decline between May 2023 and 2024, the third largest drop out of the 15 countries analyzed, with the US and Singapore seeing the largest decrease.

Is this the right time for a false sense of security or cost-cutting?

Not if you look at the burnout rate of cybersecurity teams and the cyberattack numbers this year.

If your security team is maxed out, how will you handle the increase in AI-based cyberattacks?

Security Magazine analyzed a report by SlashNet revealing an increase in malicious emails by 341% since December 2023, including an increase in business email compromise, phishing, and other message-based attacks driven by generative AI.

Furthermore, the AI Security & Governance Report released by Immuta reveals that 80% of data experts agree that AI is increasing data security challenges.

Companies feel the groundswell from the demand for generative AI as they try to maintain their balance to remain cyber-secure and resilient.

Call to Action

The AI groundswell is coming requiring you to ride the crest of the wave or be knocked over by it. DM me or contact me on my website. I am happy to help you.

Thank you for your time and attention,

Dawn