AI Emerges as Top Security Concern for Brazilian Businesses Amid Talent Shortage

Artificial intelligence (AI) has become the leading security concern for Brazilian enterprises, marking a shift in the business risk landscape. According to a recent risk ranking by Allianz Commercial, 32% of Brazilian executives now identify AI as their primary business risk, surpassing cyber incidents (31%) and regulatory changes (28%). While AI is recognized as a strategic lever with transformative potential, it also introduces significant operational, legal, and reputational risks that many companies struggle to govern effectively. Thomas Lillelund, CEO of Allianz Commercial, emphasized the critical role of AI in society and industry, noting its growth is reshaping risk dynamics.

Simultaneously, Brazil's financial sector is witnessing robust investment in technology, with Brazilian banks projected to invest R$ 47.8 billion by 2025 largely directed toward AI, big data, and analytics. This investment reflects the digital maturity of Brazil’s financial system, noted for its advanced instant payment infrastructure and regulatory framework led by the Central Bank. Globally, AI applications in fintech are expected to reach a valuation of US$ 97.7 billion by 2033.

Despite these advantages, the country faces a significant shortage of skilled professionals to support AI adoption. Experts acknowledge that while Brazil's digital systems and regulatory mechanisms provide a strong foundation, they do not guarantee immunity from risks such as digital crimes and AI-related fraud. Ivo Mósca from Febraban highlighted the financial system's resilience but underlined the workforce's insufficient technical capacity as a major challenge.

Efforts like the Brazil Digital+ Plan aim to position Brazil as a leader in global digital value chains by 2030 through innovation, social inclusion, and economic growth. However, clear regulation and responsible corporate governance remain essential to manage AI’s risks without stifling progress. Ticiana Amorim noted that even with internal policies for responsible AI use, the risks of misuse and misinformation persist, requiring ongoing vigilance.

In summary, while AI offers transformative opportunities for Brazilian businesses, particularly in the finance sector, managing its associated risks and addressing the talent shortage are critical for sustainable growth and security in the evolving digital economy.