Allianz sounds the alarm: Artificial intelligence suddenly the biggest risk for companies

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AI on the rise—but now it's becoming a risk!

Artificial intelligence has been seen as a beacon of hope for the economy. Faster, more efficient, cheaper—that's what it promised. But in 2026, the tone changed. According to a recent study by industrial insurer Allianz Commercial, AI is increasingly becoming a threat itself. In Allianz's new "Risk Barometer," it has made a huge leap: from 10th place last year to 2nd place among the world's biggest business risks.

Only cybercrime ranks higher—and this is precisely where the problem lies: AI and hacker attacks go hand in hand.

AI as a gateway for cyberattacks

What used to be done manually is now done by hackers with the help of AI. According to Allianz, criminals are using technology to strike in a more targeted, sophisticated, and faster manner. Whether it's phishing emails, deepfakes, or automated attacks on IT systems, artificial intelligence is increasingly providing the tools for this.

Michael Bruch from Allianz Commercial sums it up: "AI increases the attack surface and exacerbates existing vulnerabilities." This means that not only are attacks becoming more dangerous, but the effort required to protect against them is also increasing dramatically.

AI can also be dangerous without hackers

But it's not just criminal attacks that are causing concern for the economy. The legal use of AI in companies also carries enormous risks. This is because more and more decisions—whether in marketing, human resources, production, or legal affairs—are now based on AI-supported analyses.

The problem: What if the AI is wrong? Whether due to faulty data, poor training models, or simply inappropriate application, the consequences can be fatal:

• Management mistakes
• Legal disputes caused by discriminatory algorithms
• Copyright infringements through automated content
• Reputational damage due to questionable AI results

"AI operates with a certain degree of autonomy—and the results can simply be wrong or even fabricated," warns Allianz manager Alexandra Braun.

It becomes particularly tricky when no one can say for sure who is actually liable if something goes wrong.

Companies are playing catch-up with technology

The Allianz study also shows that technology is developing faster than the rules surrounding it. Companies are introducing AI systems before addressing data protection, ethical guidelines, or legal safeguards. The result: new liability risks, uncertainty—and, in the worst case, a complete loss of trust among customers and partners.

Despite all concerns, almost 50% of respondents see more opportunities than risks in AI. However, one-fifth see the opposite—and that is significantly more than a year ago.

How we assess this

AI is not a toy—and certainly not a miracle cure. Anyone who thinks you can just buy a few algorithms and then everything will run itself is underestimating the extent of the responsibility involved. Companies that rely on AI must not only understand data, but also consider legal, ethical, and liability issues. Otherwise, digital progress can quickly turn into a legal own goal. And that can be really expensive – not only financially, but also in terms of customer trust. AI is powerful. But those who use it must be powerful too.

Source: tagesschau.de