As the holiday season approaches, it not only brings joy and celebration, but also a surge in cyber threats. Alarmingly, 84% of companies have suffered a phishing attack, making cybercrime the third largest economy in the world after the United States and China. This is not expected to slow down anytime soon, with the estimated cost of Global cybercrime is expected to reach $13.82 billion (£10.85 billion) by 2028.
The proliferation of artificial intelligence (AI) is particularly important, as it equips cybercriminals with sophisticated tools to carry out more complex attacks. But cybersecurity experts are also leveraging AI tools in the “battle of the robots,” using advanced technologies to defend against AI-powered cyberthreats.
The Grinch’s Toolkit – AI in Cyberattacks
AI has revolutionized cyberattacks, making them more sophisticated and difficult to detect. The speed and stealth of AI-powered attacks give cybercriminals a significant advantage, often leaving organizations unaware of the scale of these threats. This underreporting further complicates efforts to defend against these advanced attacks. Increased online activity during the holiday season provides ample opportunities for cyber grinches to exploit vulnerabilities, making it essential for businesses to strengthen their defenses.
During the holiday season, the influx of online activities and transactions makes it a prime time for cyberattacks. Cybercriminals leverage AI in several ways to exploit vulnerabilities:
- Social engineering and phishing attacks: AI uses data from social media platforms like LinkedIn and Facebook to identify potential victims. It can create personalized phishing emails and even generate convincing voice clones and deepfake videos, increasing the chances of successful attacks.
- Malware and ransomware: AI enhances traditional malware, allowing it to adapt to changing security measures and evade detection. It also automates ransomware attacks, strengthening the economics of ransomware-as-a-service (RaaS), making these attacks smarter, more adaptive, and harder to detect.
- Fake AI chatbots: Cybercriminals are deploying AI to create fraudulent chatbots that trick users into divulging sensitive information. These “bad” chatbots are often indistinguishable from legitimate chatbots, posing a significant challenge to users and businesses.
AI for cybersecurity – Santa’s ally
Fortunately, AI is not only a tool for attackers but also a formidable ally in defending against cyber threats. AI can be used in different ways to strengthen cybersecurity:
- Automated threat detection and predictive analytics: AI-powered systems can quickly identify and report suspicious activities, providing real-time alerts to security teams. Additionally, by analyzing patterns and predicting potential attacks, AI helps organizations address vulnerabilities before they can be exploited. In fact, AI-powered cybersecurity can speed up incident response times by 55% on average.
- Phishing and scam detection: AI can detect phishing attempts before they reach users, reducing the risk of successful attacks. For example, Virgin Media O2 has created an “AI grandmother” to fool scammers. Trained using real content from scammers, Daisy combines various AI models to listen and respond to scam callers. On the phone with fraudsters, Daisy tells meandering stories about her family, talks about knitting and provides false banking details to waste their time.
- Malware and ransomware detection: AI tools can identify and neutralize malware, preventing it from causing damage. Tools like GitHub’s CodeQL and AWS’s CodeGuru Reviewer help organizations identify and mitigate security vulnerabilities, build more secure systems, and protect against cyberattacks.
The human touch
While AI is a powerful tool, it does not replace human expertise. Qualified cybersecurity professionals are essential to validate AI-reported threats and perform high-level tasks that require human judgment and experience. AI augments human capabilities, enabling security teams to work more efficiently.
Keeping the Cyber Grinches at Bay
Understanding how attackers exploit AI and how AI can be used defensively is crucial for organizations wanting to protect themselves against cyber threats. As cybercrime technology advances, it is more important than ever to stay ahead of cybercriminals by integrating AI into cybersecurity strategies. As we enter the holiday season, it’s crucial to ensure our businesses are prepared to fend off the cyber grinches. By leveraging AI for cybersecurity, we can protect our digital assets and keep the Christmas cheer alive.
By taking these steps, businesses can not only protect themselves, but also ensure that the holidays remain a time of joy and celebration, without fear of cyber threats. Stay alert, stay safe and keep the cyber grinches away this Christmas.
Justin Young is Director of Managed Services Security Operations at YEARa digital transformation provider and Microsoft Services Partner of the Year 2024 in the UK. Headquartered in Manchester, it provides public and private cloud, security, business applications, low code and data services to thousands of customers, from enterprises to SMEs and public sector organisations. .
