- November 15, 2021
- By Cyberarch Admin
As businesses evolve and grow in the digitally connected world, the threat of cyber-attack is increasing at an alarming rate as well. In 2020, there has been an exponential rise in cybersecurity breaches in the form of unauthorized access to data, networks, devices and applications. The trend continues in the year 2021.
Businesses cut across verticals need to ramp up and boost their cybersecurity capabilities. Another reason why it is essential is the growing use of devices and networks for commercial and business purpose. The advancement of technologies like IoT, 5G, and cloud-based storage has opened up opportunities for hackers to attempt intrusions in different ways.
But one of the major concerns that have emerged recently is the use of Artificial Intelligence by attackers. AI is now used for phishing activities which are faster and the chances of success have multiplied too. Thus, it suffices to say that AI has magnified the threat level and the potential scale for damage has reached unprecedented heights. This is precisely why using Artificial Intelligence in cybersecurity is important more than ever to thwart highly sophisticated cyber-attacks.
Organizations are losing hefty sums of money because of cybersecurity breaches. According to reports, many firms have reported financial loss of over 50 million dollars to cyber-attacks and breaches. There have been cases where entities have suffered cyber-attacks that crippled operations and cut productivity and operations drastically. Thus, understanding the new reality and cybersecurity scenario, businesses are investing in AI solutions and increasing budgets for the same.
One of the big positives is that business organizations across the spectrum have started to realize the need for AI in cybersecurity. According to a report from Capegemini Research Institute, 69% of organizations affirm the need for AI to counter and respond to cyber-attacks. All industries ranging from telecom, banking, retail to automotive, insurance and consumer products are counting on AI for better cybersecurity solutions for their organizations.
There are mainly three areas where organizations are using AI in cybersecurity:
- Network Security
- Data Security
- Endpoint Security
It is not surprising that AI is most deployed to secure these areas in an organization. Network is at the heart of every IT system of an organization. Data in vast quantity is highly valuable for businesses and requires protection from hackers who often leak the same and damage businesses irrevocably. Endpoint security has also gained significance because of the rising use of endpoint devices which is further expected to grow in the near future.
The evolving capabilities such as Artificial Intelligence combined with Machine Learning are paving the way to deter cyber-attacks in real-time successfully. The AI to counter a wide range of cyber threats is utilized in detection, prediction and response. Amongst the three, AI is extensively used for detection followed by prediction and response.
Benefits of using AI in Cyber Security
Organizations across the world have experienced significant benefits by using AI in cybersecurity. Umpteen critical threats in the cyberspace can be negated and integral systems can be protected without hindering processes and performance.
When an organization uses AI in cybersecurity, it helps in understanding the existing threat patterns. This, in turn, helps in the identification of new types of threats. The advantage of AI is that it reduces time to discover such threats, investigate and respond to them successfully.
Artificial Intelligence extensively minimizes cost for organizations because the human resource for manual detection and reaction can be completely avoided. With a minimum number of people and automated solutions, businesses can cut expenses easily.
One of the key factors that help in preventing organizations from irrevocable damage is the fast response mechanism. As per the experts, the time taken to detect cyber threats is significantly reduced by almost 12% by using AI. Furthermore, AI is capable of reducing the time to find apt remediation and implementing response mechanism by 12% as well. According to studies, some entities reduced it by more than 15% using AI. Thus, it proves that better and faster response to cyber threats can be made using AI.
Cybersecurity experts and professionals spend a considerable amount of time analysing incidents and data logs to find the problem. AI can boost the efficiency of the process which involves finding relevant information faster and better. Thereafter, cyber experts can spend valuable time deciphering the data presented by AI.
Businesses can take the help of consultants who provide special help with AI in cybersecurity. Their domain knowledge, the experience of handling such threats and the multifaceted team can make a big difference in the end.
Here are some considerations which businesses can note to ensure effective and efficient implementation of Artificial Intelligence in Cybersecurity.
Irrespective of whether you are a private organization or a public entity it is highly recommended that ethical guideline should be laid out to leverage AI. A robust framework that involves transparency and security should be developed. As you might know, AI can be used for malicious activities and for unethical results. Specialized attention must be given to removing any kind of bias. A team should be constituted to protect AI data and its use. People in leadership positions should appoint managers who can be accountable for all things done using Artificial Intelligence.
AI is evolving and thus every now and then, new finding and research material is regularly updated in conferences or academic journals. This helps in keeping tab of new kind of attacks or threats made anywhere in the world. At the same time, it enables in sharing of new defence mechanisms developed or implemented as well. However, many times, detailed explanation of the procedure or execution part is often missing in such journals. There has to be a mechanism where the beneficial results from AI can be shared with all the stakeholders who use it for the betterment of cybersecurity.
In the ever-evolving and ever-changing threat landscape of cyberspace, organizations should fast embrace AI to respond to sophisticated cyber threats made by cybercriminals. This will ensure better security for businesses leading to productivity, profit and growth.
Author : Jobin Chacko