With rapidly increasing adoption of and investment into generative AI technologies, it is imperative for enterprise and business users to identify, examine, and prepare mitigation plans for risks arising out of this emerging technology to safeguard against reputational, legal, and financial consequences. In this context, this report presents a timely and comprehensive analysis of the cybersecurity and privacy risks emerging from enterprise use of generative AI systems and tools.

The report is framed in two parts, Part I-STRENGTHENING CYBERSECURITY FOR GENERATIVE AI and Part II- DATA PROTECTION STRATEGIES FOR GENERATIVE AI. The report first sets the context by breaking down the fundamentals behind the functioning of generative AI and examines the current landscape of use of generative AI systems and tools in an enterprise context. Building on this foundation, the latter sections of the report highlight identified privacy and cybersecurity risks that may arise for an enterprise user of this technology in the absence of established governance frameworks. Finally, based on thorough examination of existing governance and regulatory frameworks, both part I and part II of the report conclude with suggestions for enterprises on possible interventions in organizational policies, governance imperatives, and business processes that could help mitigate the highlighted risks.