The risk of cybersecurity attacks increases year on year, particularly as cyber criminals are now leveraging more sophisticated technologies and techniques to be able to carry out their activities at scale. For example, a small study recently showed that phishing emails can be created 40% faster with the help of ChatGPT.
That means that IT security teams have their work cut out, trying to stay on top of the quickly evolving cybercrime landscape. And whilst organisations also have access to new technologies, to help fight back against these new threats, not all are using them.
Are companies prepared for future cyber attacks?
Currently, around 90% of organisations are planning to maintain or increase their awareness measures over the next 12 months. As attacks continue to increase (there was a 38% increase in global attacks in 2022, compared to 2021) it’s crucial that companies continue to invest in maintaining and improving their cybersecurity systems and processes. Because you never know when an attack on your business is going to happen. Already, 50% of organisations experienced a successful cyber attack in the last three years, and 82% don’t expect the situation to ease.
What are the top cybersecurity priorities?
The top priorities for organisations globally include improving employees’ security awareness, identity access management and securing hybrid work. Social engineering continues to be one of the most common – and successful – methods used by hackers. And, according to IBM, the average cost of a data breach with social engineering as the initial attack vector exceeded $4.5m.
How to improve security within organisations?
Given how frequently social engineering is used in cybercrime, awareness among employees of these types of methods is crucial in helping to mitigate the risk of an attack. According to security professionals, the most effective methods to improve cybersecurity awareness are measures via communication apps, personalised learning and offering customised programmes. And this is where AI can be leveraged by organisations.