India, Oct. 19 -- KPMG US chair and CEO Tim Walsh believes artificial intelligence (AI) presents a challenge unlike the Y2K (Year 2000) bug, which sparked fears of widespread computer failures as the world approached 2000. Walsh recalls spending New Year's Eve 1999 near Times Square as businesses and the public waited to see whether the feared disruption would unfold.

"I don't think AI is Y2K," Walsh told Fortune. He was discussing the risks businesses face as AI advances, including cybersecurity threats and the pressure to prepare employees for changing roles.

KPMG's 2026 US CEO Outlook, based on a survey of 400 CEOs, found that 85% expect cybercrime and cybersecurity threats to affect their organisations' prosperity over the next thre...