Half of People Fear AI Will Empower Hackers to Launch More Attacks

A recent report has highlighted that one in two individuals (50%) harbor concerns that Artificial Intelligence (AI) will provide hackers with the means to execute more cyber attacks. This revelation comes from Barracuda Networks, a leading provider of cloud-enabled security solutions.

Half of People Fear AI Will Empower Hackers to Launch More Attacks

AI-enabled cyber attacks,
Ransomware prevalence,
Cybersecurity report, findings
Data breach impact,
GenAI-powered security attacks,
Cybersecurity infrastructure readiness

The report further unveils alarming statistics, indicating that approximately 71% of respondents encountered a ransomware attack within the past year, with a staggering 61% opting to pay the ransom. Fleming Shi, the Chief Technology Officer at Barracuda, emphasized the importance of proactive monitoring and attack detection to mitigate the risk of severe stages like data exfiltration or ransomware.

Conducted in September 2023, the survey polled a total of 1,917 IT security practitioners across the United States, the United Kingdom, France, Germany, and Australia. The respondents hailed from enterprises ranging from 100 to 5,000 employees.

Among the key findings, the report highlighted that the average annual cost to respond to compromises amounted to $5.34 million. Furthermore, 57% of respondents reported experiencing one or more cyber attacks in the past year, while 48% confirmed their organizations suffered data breaches, resulting in an average loss of 340,267 individual records.

Denial of service (52%), phishing/social engineering (48%), and credential theft (41%) emerged as the top three most common attack types faced by organizations.

The report also shed light on the evolving tactics of hackers, who leverage AI to identify vulnerabilities and execute attacks. Despite this, only 39% of respondents expressed confidence in their security infrastructure’s readiness to defend against GenAI-powered security threats.

In light of these findings, the report underscores the urgent need for organizations to adopt new approaches to cybersecurity to effectively combat the evolving threat landscape.

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