Companies are increasingly worried about the risks posed by artificial intelligence and other forms of digital disruption, according to a new survey of finance professionals from the Chartered Institute of Internal Auditors.

AI and digital disruption together made up the fastest-rising risk category in the institute’s annual survey of internal auditors across Europe, climbing from the sixth biggest risk a year ago to the fourth biggest risk this year. Companies are under pressure to keep up with competitors and harness fast-evolving technology to meet consumer demands, the institute said.

“AI’s rapid rise as a business-critical risk underscores the unprecedented pace …