In response to a UK government consultation led by the Department for Science, Innovation and Technology setting out an AI cybersecurity code of practice, ACCA He said government is best placed to put in place a general regulatory structure and principles, while those at the forefront of AI developments should be given the space to work on tackling emerging cyber risks.
However, the proposed code’s pro-innovation approach – as set out in the government’s white paper – needs to be subject to safeguards and its requirements may need to be revisited. The AI cyber challenge is dynamic, and a ‘one-off’ vision can quickly become outdated.
ACCA also highlighted the risks and impacts for small and medium-sized enterprise (SME) end users, with a significant number of its members operating in this segment. The biggest challenges facing this stakeholder group in terms of cyber preparedness – both in terms of skills and budgets – are well documented. ACCA wants SME end users to be safe and protected from cyber risks, while enabling them to choose AI given its potential to increase business productivity.
Speaking on the matter, ACCA UK’s Head of Technical and Strategic Engagement, Glenn Collinssaid: “ACCA is pleased to see the consultation take a principles-based approach, as our current view of AI offers too many unseen scenarios. ACCA, its members and partners will be profoundly impacted by its intended use of AI, including providing finance professionals with the best experience and skills for the modern workplace.”
The ACCA warned that there is a cost to adhering to any code, including the indirect costs of adhering to the code and the impact on the supply chain. Effort and costs will be required to raise awareness of the code, as well as to monitor and enforce it.
ACCA Policy Development Officer, Narayanan Vaidyanathanadded: “We anticipate the utility of such a code for those who provide third-party assurance or verification of AI systems. This is an important category of stakeholders who will have a key role to play in creating a trusted AI ecosystem to complement the regulatory and legal guidance of policymakers.
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“We do not anticipate that this group will be subject to the requirements of the code itself, but assurance requires verification against a well-defined and ideally publicly available standard – which this code could provide. Cyber risks are among the elements that assurance of an AI system may need to verify. Therefore, those providing assurance would find such a cyber code and associated standards useful.”
