AI has already permanently changed the Cyber Security Industry. At the speed that it’s being adopted, the market is expected to reach more than $133 billion by 2030, but its impact has been both positive and negative.
Hackers have been quick to use AI which has fuelled a huge rise in cybercrime, expected to reach $9.22 trillion cost to Internet users in 2024, with the vast majority (85%) of cyber security professionals blaming AI.
This rise is for these key reasons: AI increases the speed and volume of attacks, it adapts to specific defences, and it creates more sophisticated, personalised attacks.
But on the opposite side, businesses are stating that AI strengthens cybersecurity by enhancing threat and phishing detection, rapidly analysing incidents and finding solutions, and creating threat simulations to predict possible cyber-attacks.
Breaches that affected organisations with fully integrated security AI solutions cost them $1.8 million less on average than businesses without them. 69% of businesses stated that AI in cyber security is a necessity due to the threat amount that human analysts are unable to deal with.
According to Nick Francis, the editor of the authoritative industry guide Techopedia “AI has exploded in popularity in the last year, with users employing them for every day tasks from automating data gathering to detailed research. Although incredibly useful, it’s clear that it can also be directed to automate expansive and expensive cyber-attacks”
“Organisations and users have to be more aware than ever before to not only the same threats, but updated versions that may be using AI to creatively customise to targets more… User education, updated systems, and protective programs have to be used and maintained to stand a chance against these new threats.” Francis concludes.