The Rising Threat of AI | #cybercrime | #infosec


Forecasting the Evolution of Cybercrime in 2024: AI Takes the Lead

As the world steps into 2024, a significant transformation is anticipated in the realm of cybercrime. Artificial Intelligence (AI) is expected to play a pivotal part by empowering cybercriminals to automate their social engineering attacks, making them increasingly sophisticated and challenging to detect. One of the major worries is the creation of deepfakes using AI – highly convincing forgeries of audio, video, or other data intended to deceive.

AI-Driven Cyberattacks: A Rising Threat

The threat posed by these AI-enhanced attacks is their capability of being launched on a vast scale, leading to substantial social engineering campaigns that can be more effective and yield higher returns for criminals. These attacks are not just increasing in number but are also becoming more sophisticated, targeting businesses, governments, and consumers. Phishing remains the most prevalent attack method due to its low cost and high success rate, with 91% of people still relying solely on a username and password for security.

AI: A Double-Edged Sword

While AI is being leveraged by cybercriminals to enhance their activities, organizations are also employing AI to strengthen their defenses. There is an upward trend in enterprises using generative AI APIs to improve various business functions. The overall AI market is forecasted to be worth $909 billion by 2030, with generative AI revenues expected to grow from $1.8 billion in 2022 to $33 billion in 2027 at a compound annual growth rate (CAGR) of 80%.

Adopting Zero Trust Architectures

In response to these emerging threats, a shift in cybersecurity strategies is forecasted, particularly within the Asia-Pacific and Japan regions. Stricter regulations are predicted to incentivize companies to adopt zero trust architectures, which include practices like micro-segmentation. This approach, based on the principle of ‘never trust, always verify,’ significantly reduces the attack surface, thus preventing unauthorized access within an organization’s network. The World Economic Forum (WEF) and Accenture, in a joint study, emphasized the need for zero trust in cybersecurity to close the trust deficit.

As we move further into 2024, organizations are anticipated to gravitate towards fully secretless authentication to secure sensitive access points. Cybersecurity teams are expected to shift their focus towards policy and ensuring that workflows and systems meet security requirements. Despite the rise in AI tools, human talent will still be key to making it a success.



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