The sanction for inadequate defense is increasingly severe, according to a Article from Infosecurity magazine written by Alex Leadbeater, Director of Technical Security at the GSMA, a global organization of 1,000 mobile operators and enterprises around the world.
Cybersecurity Ventures estimated the damage caused by global cybercrime last year at a staggering cost of 8 trillion dollars USD, which ranks it third among the world’s “economies”, just behind the United States and China.
According to IBM, the average cost of a data breach in 2023 was $4.45 million — an increase of 15 percent over the last three years.
What is remarkable about modern cybersecurity is how quickly the industry must respond to new technological changes, perhaps the most notable being the rise of AI.
Cybercriminals can now use AI-powered tools to create convincing phishing emails, orchestrate deepfake attacks, and develop malware with adaptive capabilities, rendering many traditional defense mechanisms obsolete.
But with the progress of attacks, new forms of defense appear. AI can play a central role in identifying anomalies and potential threats. For example, AI’s ability to automate incident response processes can transform cybersecurity: rapid detection, analysis and response to security incidents becomes achievable at a pace that manual processes cannot match, thereby minimizing the impact of cyber threats.