In cybersecurity, artificial intelligence is becoming more and more significant, both for good and harm. The most recent AI-based techniques can help organisations better identify risks and safeguard their systems and data resources. However, cybercriminals can also employ the technology to carry out more complex attacks.
The market for AI-based security products is expanding thanks in part to the increase in cyberattacks. According to a report published in July 2022 by Acumen Research and Consulting, the global market had a value of $14.9 billion in 2021 and was expected to grow to $133.8 billion by 2030.
More complex solutions are required as a result of an increase in attacks such distributed denial-of-service (DDoS) attacks and data breaches, many of which are very expensive for the affected enterprises.
The Covid-19 epidemic and the transition to remote employment, said the research, were other market growth drivers. Many businesses were pushed to expand their focus on cybersecurity and the deployment of AI-powered solutions to more quickly identify and halt threats as a result.
According to the Acumen analysis, market growth is anticipated to be fueled by trends including the growing usage of the Internet of Things (IoT) and the increase in linked devices. New applications of AI for cybersecurity may be made possible by the expanding use of cloud-based security services.
AI’s improved security
Antivirus/antimalware, data loss prevention, fraud detection/anti-fraud, identity and access management, intrusion detection/prevention system, and risk and compliance management are a few examples of the solutions that use AI.
The application of AI in cybersecurity has been rather underutilised thus far. According to Brian Finch, co-leader of Pillsbury Law’s cybersecurity, data protection & privacy practise, “companies aren’t going out and giving over their cybersecurity programmes to AI at this time.” That doesn’t imply that AI isn’t in use. We are seeing businesses use AI, albeit in a limited way. This is usually the case with products like email filters and virus detection software that use AI in some capacity.