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Cybercrime is on the rise in the United States and around the world. Over the past decade, online crimes have caused more than $12 billion in damagesa twelve-fold increase since 2015. While businesses once feared physical threats such as bank robberies, they now protect themselves against much less visible attacks.
As the world’s reliance on digital technologies increases, artificial intelligence (AI) has the potential to improve cybersecurity measures for businesses of all sizes.
Related: 10 Benefits of Using AI in Cybersecurity Practices
The role of AI in cybersecurity
Cybersecurity has evolved significantly over the past decade. A decade ago, more than one in five cybercriminals cybersecurity incidents Cyber attacks involving paper documents have been replaced by phishing attacks, which have almost doubled during this period.
The growth of ransomware attacks is even more evident. Virtually unheard of in 2015, they now account for nearly one in three cyberattacks in the United States. AI plays a dual role in cybersecurity, as it is used both by perpetrators of online crimes and by those looking to secure their data. The World Economic Forum has spoken of a AI Arms Race.
Chief information security officers (CISOs) around the world are relying on technologies like machine learning and deep learning to stay ahead of their adversaries. With its fundamental ability to analyze massive amounts of data, AI allows CISOs and their teams to monitor network activity and detect anomalies at an early stage. Early identification of suspicious behavior or fraudulent activity not only becomes easier, but can also be the key to effectively preventing financial and other damages.
At the same time, using AI frees up time for analysts, allowing them to focus on more strategic activities.
Key AI Technologies in Cybersecurity
Threat detection and data protection are two cornerstones of effective cybersecurity, and AI can improve both.
Amazon GuardDuty is an AI-powered threat detector that uses machine learning (ML) and built-in threat intelligence from Amazon Web Services (AWS) to protect AWS accounts and associated data. The software detects suspicious activity such as AI security guard removal and investigates it faster than human analysts. Users can also automate threat remediation.
Additionally, Amazon GuardDuty protects against ransomware downloads and scans for malware, including cryptocurrency-related threats.
IBM Watson for Cybersecurity is another heavyweight in AI-powered threat detection. Watson analyzes security data from a variety of sources, including alerts and security logs. By combining information gathered from multiple locations, Watson can detect threats that non-AI security software might have missed. The company’s product line IBM Security® Solutions offers more personalized tools to meet the cybersecurity needs of today’s businesses.
Related: How businesses can use AI and quantum technologies to improve cybersecurity
Challenges and limitations
One of the challenges of using AI in cybersecurity is the speed at which the field is growing. Research firm Gartner predicts that by 2026, four out of five companies will have used AI Generative AI-compatible applications. In comparison, just a year ago, only 5% of companies were using these emerging technologies.
Given the pace of acceleration, one of the challenges for cybersecurity professionals is to secure these projects. According to IBMLess than a quarter of generative AI projects are currently properly secured, leaving three-quarters exposed to malicious attacks.
Cybersecurity teams face both internal and external challenges. Externally, cyber attacks Security technologies are becoming more sophisticated as the volume and value of data increases. Potential attackers no longer need excessive computing power to develop malicious products.
At the same time, teams tasked with protecting an organization’s data must address internal challenges such as sheer volume of data and increasingly complex data infrastructures. They must also balance user access needs with security concerns.
Case studies
Cyberattacks are not limited to specific industries. As companies’ reliance on data increases, so does the potential for cybercrime. Industrial Solutions Provider Andritz SA saw an increase in security breaches in 2020. With nearly 50% of its 27,000 employees relying on remote network access, the company needed to find a solution that protected proprietary information and allowed its teams to continue working.
With customers operating power plants and chemical plants, among other applications, cybersecurity breaches can quickly become catastrophic. The team implemented an AI-powered solution to visualize threats and quickly neutralize them, protecting its employees and customers.
Based in China United Family Health Care (UFH) turned to AI-powered cybersecurity solutions when a combination of compliance regulations, external threats, and employee behaviors like password sharing put data at risk.
The company needed a solution that streamlined security operations in a central location, allowing a relatively small cybersecurity team to monitor and detect suspicious activity across multiple sites. Once live, their AI-powered system provided a snapshot of the company’s security posture within minutes. The application has also had a positive impact on internal operations, with risks and alarms decreasing since its implementation four years ago.
Related: How AI is Shaping the Cybersecurity Landscape – Exploring the Benefits and Limitations
Future trends
As the use of generative AI continues to expand across verticals and society at large, the need for equally effective AI powerful cybersecurity will increase.
While it’s still easy to dismiss cybersecurity as a topic that doesn’t apply to small businesses, few companies will be able to ignore cyber threats for long. Losing access to an e-commerce site or compromising customer data on social media platforms can threaten the future of a business.
As cyber threats evolve and expand their reach, AI-powered cybersecurity must evolve to detect and neutralize them before damage can occur. In the future, we will likely see AI-powered security elements integrated into widely used applications such as social media content generation, scheduling tools and much more.
When it comes to cybersecurity, AI plays a dual role: adversary and protector. In the coming years, governments and businesses must ensure that AI-powered protection, detection, and remediation stay ahead of the growth of cyber threats and cybercrime.
