AI is everywhere these days—and that means so is AI risk.

Among S&P 500 companies, 72% mentioned AI as a material risk on their Form 10-Ks this year, the Conference Board found, up from 58% last year and 12% in 2023. The shift is reflective of how AI use within business has matured from the experimental to the widespread, the organization wrote in a report. (The Conference Board’s report defines “AI” broadly, including not only LLMs but also robotics, automation, machine learning, and other types of AI.)

The companies most likely to disclose AI risk were those in “frontline adopter” industries, such as the finance , healthcare , industrial, IT , and consumer discretionary sectors.

S&P companies were most concerned about the reputational risks of AI, the Conference Board rep

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