Flaster Greenberg Shareholder and AI, Privacy & Cybersecurity Practice Group Leader Peter Wakiyama was featured in a recent NJBIZ article examining the risks and opportunities businesses face as they adopt artificial intelligence technologies. The article highlighted insights from an NJBIZ panel discussion where Wakiyama joined other industry leaders to discuss AI strategy, governance, cybersecurity, and risk management.
During the 90-minute discussion, panelists explored AI strategy development, cybersecurity concerns, governance, return on investment, and practical business applications. A recurring theme was the importance of balancing innovation with risk management as businesses increasingly integrate AI into their operations.
Wakiyama emphasized that AI adoption should align with each organization's unique risk tolerance and business objectives. He noted that some companies are willing to be early adopters by developing or licensing advanced AI tools, while others, particularly those in highly regulated sectors such as legal services, finance, and banking, must take a more deliberate approach due to heightened legal and compliance considerations. [njbiz.com]
The panel also stressed the importance of establishing thoughtful AI governance frameworks and involving stakeholders across legal, IT, human resources, finance, marketing, and operations when developing AI policies. Participants agreed that while AI offers significant opportunities to improve efficiency and productivity, organizations must verify AI-generated content and implement safeguards to mitigate privacy, cybersecurity, and regulatory risks.
The discussion reinforced a key message for business leaders: successful AI adoption requires a strategic, measured approach that combines technological innovation with careful oversight and risk management. Peter Wakiyama's insights highlighted the critical role legal and cybersecurity considerations play in helping organizations harness AI's benefits while protecting against potential pitfalls.
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