This is perhaps not surprising, but more so – and more concerning – is a shift in the tone from companies, which had been mostly positive about AI usage but are now also highlighting negatives. This includes a more balanced view of the risks and opportunities.
The finance and information sectors are more bullish on the benefits of AI than other industries which are typically increasingly cautious.
“This research underscores the evolving landscape of AI in corporate disclosures. As issuers become more attuned to the potential benefits and risks of AI, we see a more nuanced discussion emerging,” said Leslie Byberg, Executive Vice President, Strategic Regulation at the OSC.
The OSC’s staff research comes as a report by IBM reveals that Canadian CEOs (71%) are ahead of global peers (62%) in adopting AI agents and preparing to implement them at scale.
But just 14% of AI initiatives have been successfully adopted at scale in their organizations and just 27% have delivered on expected return on investment. This reflects the speculative sentiment among Canadian business leaders in this regard, with 76% willing to invest in AI before fully understanding their ROI (vs. 64% globally).
