Cyberattacks are becoming alarmingly frequent, with a new attack occurring approximately every 39 seconds. These attacks, ranging from phishing schemes to ransomware, have devastating impacts on businesses worldwide. The cost of cybercrime is projected to hit $9.5 trillion in 2024, and with AI being leveraged by cybercriminals, this figure is likely to rise.
According to a recent RiverSafe report surveying Chief Information Security Officers (CISOs) in the UK, one in five CISOs identifies AI as the biggest cyber threat. The increasing availability and sophistication of AI tools are empowering cybercriminals to launch more complex and large-scale attacks. The National Cyber Security Centre (NCSC) warns that AI will significantly increase the volume and impact of cyberattacks, including ransomware, in the near future.
AI is enhancing traditional cyberattacks, making them more difficult to detect. For example, AI can modify malware to evade antivirus software. Once detected, AI can generate new variants of the malware, allowing it to persist undetected, steal data, and spread within networks. Additionally, AI can bypass firewalls by creating legitimate-looking traffic and generating convincing phishing emails and deepfakes to deceive victims into revealing sensitive information.
Policies to Mitigate AI Misuse
AI misuse is not only a threat from external cybercriminals but also from employees unknowingly putting company data at risk. One in five security leaders reported experiencing data breaches due to e
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