A Double-Edged Sword in Cybersecurity, Say 4 in 5 Providers

According to a new survey conducted by RiverSafe, a cybersecurity professional services provider, 80% of cybersecurity providers believe that AI is the biggest cyber threat to their business. The findings, revealed in the AI Unleashed: Navigating Cyber Risks Report, shed light on the rising concern surrounding the potential risks of AI in the cybersecurity landscape.The research highlights the preparedness of organizations and their plans to bolster their cyber posture to defend against AI-powered threats. Alarmingly, 81% of respondents consider the risks of artificial intelligence to be more of a threat than the benefits it brings, indicating that more must be done to instill confidence in the development and deployment of AI.The Implementation DilemmaWhile there are undeniable benefits to AI, organizations are grappling with the challenge of introducing it without compromising security.Matthew Scott, Police and Crime Commissioner for Kent, emphasized the need for proper checks and balances, along with a legal framework, to safeguard businesses and the economy. With nearly 40% of businesses reporting a cyber attack in 2022 and digitally-enabled crime accounting for over half of all offenses, the risks associated with AI must be addressed promptly through collective efforts among government, policing, security services, and businesses.Cyber Risk Halting AI ImplementationThe survey found that 76% of respondents have halted the implementation of AI in their businesses due to the cyber risks it presents. Additionally, 14% lack confidence in their organization’s ability to protect against AI-driven cyber-attacks, signaling the need for an evolution in cyber defenses to adapt to the emerging threat.Suid Adeyanju, CEO at RiverSafe, noted that AI-enabled attacks are continuously evolving, requiring organizations to regularly review and update their cybersecurity measures to stay protected. He stressed the importance of maintaining a delicate balance between the safe development of AI and the security posture to counter the threats it poses.Supply Chain Risks and AI ThreatsThe survey also unveiled a concerning aspect of supply chain cybersecurity. Only 45% of businesses reported having a system in place to review security risks posed by immediate suppliers, indicating heightened threats within the supply chain due to the emergence of AI-powered attacks.Oseloka Obiora, CTO at RiverSafe, underscored the significance of innovation and the UK’s role in becoming a provider of emerging technologies like AI. While embracing the benefits AI brings, it is essential to mitigate the associated risks. Obiora expressed concern over the lack of visibility many businesses have over their supply chain, presenting unmonitored entry points for threat actors. He called on security teams to address this issue to enhance protection for themselves and their customers, particularly given the growing fears surrounding AI-powered threats.Finding a Balance for AI’s PotentialThe survey’s findings highlight the delicate balance organizations must strike between embracing AI’s potential for positive business impact and safeguarding against the risks it poses. As AI-driven threats continue to evolve, businesses must constantly adapt their cybersecurity measures to stay ahead.In conclusion, AI remains a double-edged sword in the realm of cybersecurity, offering both promise and peril. Only by effectively managing and mitigating the risks can organizations fully unlock the potential of AI as a positive business tool.