A ranking of business risks compiled by Allianz Commercial, the corporate insurer of the Allianz Group, shows that artificial intelligence is the main concern for Brazil’s business sector. This is the first time AI has emerged as the top business risk identified by Brazilian executives.

According to the survey, artificial intelligence continues to be viewed as a powerful strategic lever for businesses, but also as a growing source of operational, legal, and reputational risks that exceed companies’ capacity to establish governance, monitor regulation, and adequately prepare their teams.

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“Considering the growing importance of AI in society and industry, it is not surprising that it is the main driver of change in the Allianz Risk Barometer. Beyond offering enormous opportunities, its transformative potential - combined with rapid evolution and adoption - is reshaping the risk landscape and has become a central concern for companies,” said Thomas Lillelund, CEO of Allianz Commercial.

The main concerns cited by business leaders in the ranking are:

• Artificial intelligence (32% of mentions);
• Cyber incidents (31%);
• Changes in legislation and regulation (28%);
• Climate change (27%); and
• Natural disasters (21%).