Report by The Conference Board
New Study: 7 in 10 Big US Companies Report AI Risks in Public Disclosures
Key Findings
38% of S&P 500 companies disclosed reputational risk as the most frequently cited AI concern in 2025.
12% of S&P 500 companies flagged AI as a material risk in their public disclosures in 2023.
42 S&P 500 companies identified consumer-facing AI issues as a source of reputational risk.
The number of health care S&P 500 companies disclosing AI-related risks jumped from 5 in 2023 to 47 in 2025.
38% of S&P 500 companies cited reputational risk as a top AI-related concern.
20% of S&P 500 companies disclosed cybersecurity risks related to AI.
The number of industrial S&P 500 companies disclosing AI-related risks jumped from 8 in 2023 to 48 in 2025.
72% of S&P 500 companies now flag AI as a material risk in their public disclosures.
24 S&P 500 companies identified AI privacy and data protection issues as a source of reputational risk.
18 S&P 500 companies cited third-party and vendor exposure as a cybersecurity risk tied to AI.
17 S&P 500 companies cited data breaches and unauthorized access as a cybersecurity risk tied to AI.
12 S&P 500 companies warn that new AI-specific rules will bring heightened compliance obligations and potential enforcement actions related to compliance and enforcement.
13 S&P 500 companies warn of sensitive exposure under the General Data Protection Regulation, Health Insurance Portability and Accountability Act, and California privacy laws (CCPA/CPRA) related to privacy.
6 S&P 500 companies highlight uncertainty over how courts will treat IP claims tied to AI training data or who bears liability when autonomous AI systems cause harm due to cross-cutting legal risks.
24 S&P 500 companies highlight risks spanning copyright disputes, trade-secret theft, and contested use of third-party data for AI model training related to intellectual property.
The number of financial S&P 500 companies disclosing AI-related risks jumped from 14 in 2023 to 63 in 2025.
45 S&P 500 companies identified AI implementation and adoption issues as a source of reputational risk.