Colin's notes: I have not hesitated to talk about the immense potential of artificial intelligence here. Bleeding Edge…
This will increase productivity and efficiency across all industries and transform technology in ways we haven't yet dreamed of.
We've made incredible progress over the past year and a half or so, but we've only really scratched the surface of what AI can do.
This technology has the potential to change lives for the better…but it can also be incredibly harmful in the wrong hands.
Ever since ChatGPT and other generative AIs became mainstream, AI-based phishing and hacking scams have been on the rise. As AI evolves, so too will cyber attacks.
But just as cybercriminals are getting more sophisticated in their fraud schemes, so are cybersecurity companies raising the bar. And today, income investment expert Brad He Thomas spotlights companies that are leading the way in using AI to defend against cybercrime…
Being a hacker meant knowing how to code.
No more.
With ChatGPT, anyone can now create malware by simply having an AI write the program. No coding experience required.
It also helps hackers create more convincing phishing emails to trick people into divulging sensitive information and passwords.
A recent report from cybersecurity firm Darktrace found that a whopping 90% of security leaders believe that AI-powered threats will be a major challenge in the near future.
But about 60% say they are unprepared to face these new threats.
Cyberattacks are a threat to all businesses. But for those who help solve this problem, there is a huge opportunity…an opportunity that we can use to our advantage in this new era of artificial intelligence (AI).
Today we'll explain why spending on cybersecurity will continue to increase in the coming years. And he shares one way to profit from this trend while collecting a reliable income.
The growing cost of cybercrime
Cybercrime is one of the fastest growing costs businesses face today.
When a hacker breaks into a computer system, the trade secrets and personal data of millions of customers can be stolen.
It's not just your data that's at risk. Cyberattacks can have real-world consequences…and they can be costly and jeopardize the trust that businesses have spent years building with their customers.
exactly 2 months ago, hackers broke into Change Healthcare's computer network. The attack paralyzed insurance payments to doctors and hospitals for several weeks. Additionally, pharmacies are no longer able to dispense prescriptions.
The company estimated that the impact of the hack would cost it $1.6 billion. At the moment, he can only provide 80% of his previous services. And it may not return to 100% until next year.
Other companies are facing similar issues. Cybercrime will cost U.S. businesses an estimated $320 billion in 2023. This is a 45% increase compared to him in 2022.
And it doesn't end there…
Cybercrime is predicted to drain more than $1.8 trillion from American pockets by 2028.
And AI could make things even worse.
Microsoft recently reported that it detected hackers in North Korea, Russia, China, and Iran using AI tools to research targets, improve software, and craft phishing emails. This increases the ability of these hackers to attack more targets and makes the hacks more difficult to stop.
This means companies will have to invest more in cybersecurity to protect their profits. That means the companies developing the best solutions in the world of AI-powered cybercrime will come out on top…
on the front lines of battle
One company on the front lines of the fight against cybercrime is Cisco (CSCO).
Cisco is one of the largest companies offering networking hardware. This means that the majority of Internet traffic passes through Cisco equipment.
This puts Cisco in a unique position to prevent cyberattacks before they occur.
Cisco has recently acquired several smaller cybersecurity companies. The leading cybersecurity company also just made its biggest acquisition in history by merging with Splunk.
This means the company is evolving from a hardware focus to a cybersecurity business that combines hardware and software to keep businesses safe.
And Cisco is already leveraging recent acquisitions to develop a new product called Hypershield.
Hypershield allows security professionals to see everything that goes in and out of the operating system. It also adds security controls to every part of your network so you can react quickly if something isn't working properly.
And most importantly, Hypershield uses AI to learn how programs work. You can then automatically test and apply fixes to any issues found.
According to Cisco, Hypershield's AI capabilities can reduce the time it takes to identify problems and implement solutions from days to just minutes.
Hackers are using AI in their attacks. Now, cyber defenders can also get help from his AI.
Despite Cisco's big announcement, the company's stock remains cheap. It currently trades at just 13x earnings. Historically, Cisco stock has traded at an average P/E of 15x.
Best of all, for income-oriented investors like us, Cisco is a reliable dividend growth company, increasing its dividend every year since 2011. The current yield is 3.3%.
This means you can take advantage of AI's growth potential and reap the rewards of waiting until the company taps into the growing cybersecurity market.
Happy SWAN (sleep well at night) investment,
brad thomas
Editor, daily intelligent income
