Fortifying the Digital Age with AI-Powered Cybersecurity
From the desk of Muzaffar Sayyed
In a world where everything’s digital, the need for better cybersecurity is always increasing. Advancements in artificial intelligence have paved the way for its utilization in multiple applications in different industry verticals. The growing sophistication of cyberattacks and data breaches around the world is also estimated to bolster the demand for artificial intelligence (AI) in cybersecurity over the coming years. Automating several aspects of cybersecurity is possible with artificial intelligence and increasing demand for advanced cybersecurity solutions are also paving the way for a fruitful future of AI in cybersecurity market landscape.
From ransomware to phishing attacks, the frequency of cyberattacks and threats is increasing at an alarming pace thereby necessitating the use of artificial intelligence (AI) in cybersecurity. Cybersecurity solutions and operations are becoming more complex, prompting the adoption of artificial intelligence (AI) in cybersecurity. Implementation of stringent mandates for cybersecurity to ensure data privacy and security will also benefit market growth in the future. As per Skyquest, the artificial intelligence (AI) in cybersecurity market is forecasted to expand at a stellar 22.53% from 2024 to 2031 and reach a valuation of USD 114.3 billion by the end of the study period.
Integration of AI in Cybersecurity Is Gaining Traction Among Incoming as Well as Established Cybersecurity Companies
More and more companies are experimenting with use of AI to enhance multiple aspects of cybersecurity. The increasing risk of data breaches and emphasis on avoiding the associated monetary and reputation-related losses are pushing companies to opt for novel cybersecurity solutions.
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The Federal Bureau of Investigation (FBI) of the United States revealed in its Internet Crime Report that more than USD 10 billion were lost to cybercrimes in 2022. The bureau also revealed it had received over 800,000 cybercrime complaints for the same year.
This is why the need for advanced cybersecurity solutions enhanced by artificial intelligence and other technologies will be high over the coming years. Deployment of machine learning and deep learning will also help cybersecurity companies develop predictive and perceptive threat detection capabilities for their solutions. Zero trust security is also a major trend that artificial intelligence (AI) in cybersecurity companies can target to maximize business scope in the future.
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In May 2024, Averlon Inc., a cloud security start-up founded in 2022 was launched with USD 8 million funding. The company intended to use this freshly raised capital to further advance its AI-powered cloud security platform as the use of cloud technologies increases globally. The offering is also capable of fending off AI-driven cyberattack attempts.
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iON United Inc., a renowned Canadian cybersecurity organization announced the launch of a new AI-powered cybersecurity offering in June 2024. iON Guardian is specifically designed and tailored for small and medium businesses as an emphasis on cybersecurity rises in these organizations.
View more info and detailed Table of Contents here: https://skyquestt.com/report/global-ai-in-cybersecurity-market
Explainable AI to Redefine Trust in Cybersecurity
AI-driven decisions are often subject to complications regarding trust and the nature of the data that motivated the decision. The lack of transparency in the AI decision-making process is what has led to the inception of explainable AI (XAI). Explainable AI helps resolve the stigma associated with AI decisions by facilitating a better understanding of them and the reasons behind them. This is expected to resolve the trust issue in AI-powered cybersecurity systems and pave the way for complete autonomy in cybersecurity going forward. However, XAI is also vulnerable to threats, and defending it is another bridge to cross after researchers perfect their XAI models.
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Deep Instinct, a cybersecurity organization based in the United States, announced the launch of its new AI-powered cybersecurity assistant back in May 2024. Deep Instinct’s Artificial Neural Network Assistant (DIANNA) is designed to provide explainability and expert analysis for unknown threats. This is an industry-first offering to enhance cybersecurity and explainability as well.
Top Benefits of AI-powered Cybersecurity Solutions
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Better vulnerability assessment and management
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Identification of unknown threats
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Improved malware analysis
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Automated detection and response
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Behavioral analytics
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Enhanced adaptability to evolving cyber threats
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Predictive analytics and threat intelligence
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Reduced workload for cybersecurity teams
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Easy analysis of large volumes of data
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High potential for scaling
Why Isn’t Everyone Using AI-Powered Cybersecurity?
No matter how many pros the use of AI has in cybersecurity, there are also some cons that are hindering AI in cybersecurity market development. Ethical concerns regarding data privacy and security are the foremost reasons why extensive use of AI in cybersecurity is not possible yet. Compliance with various data regulations is still something that AI-based cybersecurity has to figure out and this is the major roadblock in artificial intelligence in cybersecurity market growth path. AI-generated viruses and malware, improper use of other AI technologies, and dearth of skilled cybersecurity professionals to deploy and manage AI-based cybersecurity solutions are other restraints that impede market growth.
Is AI the Revolution Cybersecurity Has Been Waiting For?
There will always be a need for more advanced and better cybersecurity solutions. Artificial intelligence might just be what the cybersecurity world needs right now with the increasing complexity and sophistication of cyberattacks. Not only AI improves the functionality of cybersecurity it also ensures proper usage of cybersecurity resources as well. The rapid digital transformation of multiple industry verticals will also widen the scope of application for AI in cybersecurity companies in the long run. So to conclude, yes AI is the revolution that cybersecurity needs and is projected to maintain a similar stance in the future as well.
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