AI is an asset to cybersecurity, there’s no doubt about that. With the rate of cyberattacks increasing by nearly 40% just two years ago, there has been a huge growth in the market for AI-based cybersecurity tools, with the global market estimated to reach nearly $135 billion by 2030.
But while AI can help to boost cybersecurity, it is undoubtedly a double-edged sword. At the end of 2023, for instance, around 85% of leaders in the cybersecurity scene said that recent attacks had been powered by AI, and as AI and machine learning technologies get better, these attacks are only set to get more precise and sophisticated.
The Dangers We Face
The danger here revolves around both businesses and their consumers. In 2024, more people are choosing to remove personal information from the internet due to the possibility of data breaches – of which, there have already been 5,360 this year. With user data becoming more valuable for businesses, more and more personal data is being stored on their systems, which then become vulnerable during a cyber attack.
For businesses, too, the survival rate after a data breach is not strong. Over half of all businesses affected by a cyber breach go out of business within six months, and – because cyber criminals typically attack SMBs – many of them don’t have the finances to dig themselves out of the hole – not to mention the lack of consumer trust that results from personal data being harvested and lost.
The Danger of AI
One of the ways AI is already being used by cyber attackers is through AI phishing attacks. Using AI to generate fake emails, text messages, links, and websites that look legitimate, cybercriminals can vastly increase their speed and likelihood of fooling their targets – with ‘clone websites’ able to be created and customised in just seconds.
AI ransomware is also a popular avenue for hackers, as they can combine machine learning and AI tech to identify businesses, track their email addresses, and find dynamic methods to bypass countermeasures. This allows them to gain access to different systems and then, once again, utilise AI to diagnose the system’s weaknesses and increase the probability of a successful attack.
‘Deepfakes’ should also be noted as a powerful tool in a cyber criminal’s arsenal. With human shortcomings being the main reason behind successful cyber attacks, deepfake technology is a troubling tool that can be used to gather information and trick victims by impersonating people of authority.
Conclusion
There are many positive use cases for machine learning and AI tech, but that’s not to say it can’t fall into the wrong hands. In November 2023, the UK held the first AI Safety Summit, but as ever in the world of technology, governments are slow to catch up.
Right now, AI tech is proving to be very dangerous for cybersecurity, and according to key figures in the cybersecurity space, it will only increase in volume and impact over the next two years. For this reason, it’s up to consumers to take control of their data and businesses to do everything they can to fight against AI-based cyber crime – and every other form of cybercrime, for that matter – at every opportunity.
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