Artificial Intelligence Is The Best Defense Against Cyber Attack

Artificial Intelligence Is The Best Defense Against Cyber Attack

August 1, 2019 Business Insurance and Risk Management 0 Comments

As organizations face increasing threats to their cyber security, human intelligence alone is an inadequate response. In a study from the Capgemini Research Institute (reported in 69% of organizations acknowledged they will not be able to respond to critical threats without using artificial intelligence. The study surveyed 850 senior IT executives from ten countries and seven business sectors.

56% of executives said their cybersecurity analysts were overwhelmed by the number of data points they need to monitor to detect and prevent intrusion. 42% reported an increase in cyber attacks affecting time sensitive applications, and 43% reported an increase in automated, machine-speed attacks that mutate faster than traditional response systems can neutralize them.

While only 20% of executives experienced a cybersecurity breach in 2018, a clear majority believe they need artificial intelligence to identify and respond to cyber attacks. According to the survey

  • 64% of executives said AI lowers the cost of detecting and responding to breaches.
  • 74% said AI reduces response time.
  • 60% or more said AI improves accuracy and increases efficiency.

While only one in five organizations used AI before 2019, 63% plan to deploy it by 2020. 48% said budgets for AI will increase in fiscal 2020.

These survey results contrast with studies reporting small businesses are still unprepared to deal with cybersecurity threats. While large organizations have the expertise and the resources to address security issues, small companies are likely to be increasingly targeted as criminals recognize their vulnerability. It’s time for all companies to step up their defenses.

About the Author

Harry Cylinder

Harry Cylinder, CPCU, ARM has spent nearly fifty years in the insurance industry, the majority of the time as a consultant. He has been employed by The Beacon Group of Companies since 2008, specializing in the review and analysis of property and casualty coverage forms. Mr. Cylinder has been reviewing policy forms as they have evolved over the past decades. In 2008 he published an article in the CPCU Journal which was the first description of cyber insurance coverage for a general insurance audience. Since that time he has regularly written on cyber and other topics for The Beacon Companies’ blog.