Cyberattacks are one of the biggest threats businesses face today. And small businesses are at a much greater risk than larger businesses.
In recent years, you’ve probably heard a lot about artificial intelligence (AI), and how it’s going to revolutionise every aspect of our lives. But how will AI affect cyber security?
In this post we’ll explore how AI might bring new cyber security risks, but also how it could help you keep your business safe from cyberattacks.
Got any questions about cybersecurity? Want to discuss your cybersecurity risks? We have a team of experts on hand to help. Call us on 0208 290 9080 or email us at cyber@anthonyjones.com.
New AI Cyber Security Risks
Cybercriminals are always looking for new ways to target their victims. So of course, they’re using AI tools to exploit weaknesses in businesses of all sizes.
AI has lowered the barrier of entry to the world of cybercrime, which may lead to more hackers and, as a result, much greater risks for businesses.
For example, ChatGPT is a popular AI tool which can automatically generate text based on your specifications. Cybercriminals may be using ChatGPT to automatically write malicious code. This means that would-be cybercriminals no longer need to be skilled coders. They can just use AI to do their coding for them.
Also, some businesses use AI bots to manages to online customer queries. These bots are getting smarter all the time, and they’re now capable of responding to situations in real time. It’s easy to imagine how a cybercriminal might leverage this to target their victims on social media or via email. Phishing attacks may soon become so sophisticated that they’ll be extremely difficult to resist.
How AI is Being Used to Defend Against Cybercriminals
But as well as creating new risks for businesses, AI can also help us respond to these new risks.For example, antivirus platforms currently rely on malware databases that must be regularly updated so as to include the latest risks. The platforms will then monitor your data and your systems for any signs of suspicious activity.
AI can streamline these platforms, making them far more effective at understanding, identifying, and responding to cybersecurity risks. Machine learning tools can update malware databases in real-time, so your antivirus systems will be better placed to keep up with cybercriminals. Plus, AI can analyse huge amounts of data much, much quicker than standard tools, which means that they’ll be able to pinpoint any risks long before they pose a threat.
AI can also help businesses respond to respond to more specific threats, such as credit card fraud. Businesses can use AI services to verify credit-card holders, while customers can use the same tools to choose safer passwords and to immediately identify any suspicious activity on their account.
Are You Ready For The AI Future?
According to one study, more than 75% of enterprises have started to prioritise AI and machine learning in their IT budgets. And as we’ve seen, investing in AI can help your business stay resilient in a fast-moving digital world.
But as well as investing in AI, your IT budget should still prioritise both IT security and cyber security.
The Importance of Cyber Insurance
As cybercriminals get increasingly sophisticated, a dedicated cybersecurity team is fast becoming a business essential. Yet so too is specialist cyber insurance.
In the event of a cyber-attack, cyber insurance will cover your business’s liability as well as your ability to manage the impact on both your systems and finances.
If you have any questions about business insurance, or if you want to discuss whether cyber insurance is right for you, we have a team of experts ready to help. Call us on 0208 290 9080 or email us at cyber@anthonyjones.com.
