A new report highlights the shocking impact of AI on the cybersecurity industry, with the AI cybersecurity market expected to reach $133 billion by 2030. I was detailing how the use of AI is viewed as both a positive and a negative by businesses and organizations. Professionals alike give a glimpse into the future of cybersecurity.
On the plus side, AI-powered security systems can quickly analyze large amounts of data to detect threats at speeds that human analysts cannot manage. Last year, more than 530 signals of potential cyberattacks were recorded every second.
This scale, now made possible with AI, can only be handled by professionals using AI systems and processes that can keep up. 69% of companies surveyed echoed this sentiment, stating that AI will be a need for cybersecurity in 2024 and beyond.
This is clear when looking at the number of companies that have AI-powered security systems compared to those that do not use them. Companies that use AI in cybersecurity saw data breaches within 100 days less than those that did not, and at an average cost of $1.8 million.
big difference! AI systems are also great for future-proofing organizations. By creating threat simulations using available data, they can assess vulnerabilities and predict the types of attacks that could occur.
However, hackers are also using AI to find more innovative ways around this problem, mainly through more advanced phishing to trick people. AI-driven deep phishing, which is growing by 3,000% in 2023, is becoming more personalized to its targets, making it more difficult to detect. More than a third of cybersecurity professionals (37%) said these attacks were a major concern.
This has already become a reality. One recent high-profile case saw a financial professional hand over $25 million to fraudsters who set up and pretended to be the company's CFO and team via video call.
Cybersecurity professionals are clear in pointing to AI as the problem; 75% of them blame technology for the spike in cybercrime, which is estimated to reach $10.5 trillion by 2025. And they're not alone in thinking so. In another report, four out of five AI language model systems cited AI-powered attacks as a major cybersecurity threat to internet users in 2024. A strange moment of self-reflection?
In a constant race of rapid innovation, it is clear that AI has and will continue to change cybersecurity as we know it – for both good and bad.
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