AI-driven attacks mean the cybersecurity field faces a “tough road ahead over the next two to three years,” according to a new cybersecurity report from GlobalData.
The report states that the cybersecurity market is expected to reach a value of $290 billion by 2027, but concerns about the potential of AI in both cybersecurity and cybercrime are having a major impact on the market. is emphasized. Companies seeking to adapt to new threats face the additional challenge of talent shortages.
The report also notes that by 2024, cyber investments will account for 14% of total IT, operational technology, and automation budgets, up from 11% in 2023.
AI in particular is increasing cybersecurity concerns, giving cybercriminals the tools to improve their phishing emails and quickly send thousands of carefully targeted messages to more potential victims. doing.
“Organizations are now having to learn how to deal with cyberattacks that intentionally target enterprise technologies such as networks, cloud storage, and endpoint devices,” the report said.
“We now need to respond to AI attacks that can adapt to a particular environment, seek out its weaknesses, and exploit them. One possibility is that cybercriminals can use large-scale languages trained on existing malware code. model (LLM) and seek to implement it,” the report notes.
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However, AI can also have a positive impact on your business by identifying the signs of a cyberattack. The report highlights the example of IBM, which reported that organizations that use AI and automation as cybersecurity weapons can stop breaches in 214 days, 108 days less than organizations that don't. Masu.
There is another challenge in the cybersecurity sector that is causing a shortage of talent. The International Information Systems Security Certification Consortium (ISC2) reported in October 2023 that the employee gap reached 4 million people, an increase of 9% from 2022. The Information Systems Audit and Control Association (ISACA) shared a study in October 2023 that found 59% of cybersecurity teams were understaffed.
GlobalData's report predicts a consistent increase in demand for cybersecurity talent, and with nearly every business relying on technology, protecting systems from potential threats is now a ” “This is a relentless challenge,” he said.
As companies across all sectors look to adapt to an AI-driven security environment, the role of cybersecurity professionals will also change. The February 2024 ISC2 report found that 88% of cybersecurity professionals expect AI to impact their work, while 82% believe AI will make their work more efficient; revealed that they believe they can save time by doing simple tasks for them.