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AI's double-edged sword in cybersecurity, says Techopedia report
Wed, 28th Feb 2024

The cybersecurity industry has irrevocably been transformed by Artificial Intelligence (AI), which has both benefits and disadvantages, according to a new report by Techopedia. The report highlights key insights and data surrounding the influence of AI on the cybersecurity landscape. Noteworthily, the AI cybersecurity industry is expected to soar, reaching a market valuation of more than USD $133 billion by 2030.

However, the application of AI hasn't been a wholly positive advancement. A worrying rise in cybercrime is attributed to hackers utilising AI, which is anticipated to cost web users a staggering USD $9.22 trillion in 2024. Techopedia's report reveals that 85% of cybersecurity professionals lay blame on AI because it can boost the speed and volume of attacks, adapt to specific defences, and generate sophisticated, personalised attacks.

On the brighter side, businesses have asserted that AI fortifies cybersecurity. It enhances threat and phishing detection, swiftly analyses incidents to unearth solutions, and simulates possible cyber-attacks for predictive purposes. According to the report, businesses with comprehensive security AI solutions in place witnessed a reduction in the cost of breaches by an average of USD $1.8 million compared to those without such solutions. As a testament to the value of AI in cybersecurity, 69% of businesses reported that it is an essential tool due to the sheer number of threats that humans alone cannot manage.

Nick Francis, Techopedia's editor, commented on the findings in the study, stating: "AI has exploded in popularity in the last year, with users employing them for everyday 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."

Francis went on to emphasise the need for organisations and users to be more conscious about problematically evolved versions of threats using sophisticated AI. His advice was that "user education, updated systems, and protective programs have to be used and maintained to stand a chance against these new threats."

While the rise of AI continues to change the face of cybersecurity, the indications are clear. As the power of this novel tool becomes increasingly exploited by hackers, businesses and individuals alike must adopt and maintain robust AI solutions to ward off cyber threats effectively.