AI in Cybersecurity: How Artificial Intelligence is Modifying the Battle Against Cybercrimes

Introduction: The Role AI plays to combat Cybercrimes

Cybercrime involves specific criminal activities reinforced by the use of digital devices such as computers, networks, and other devices to damage and destroy data, steal information, and/or disrupt services of targeted individuals, organizations, or governments. In recent years, there has been an increase in cybercrime threats. The most common cybercrimes reported include ransomware, malware, data breaches, social engineering, supply chain attacks, identity fraud, dark web exploitation, and healthcare cyberattacks.

Based on the cybercrime cases reported in previous years by Statista, many organizations, governments, companies, and individuals are at a greater risk of data or information infringement. By 2023, 46 percent of companies were reported to have paid for ransomware attacks to get their data/information back instead of reporting the crime. The industries that are the main culprits of ransomware attacks are the manufacturing industry and food and beverages industry. As of 2022, companies in the manufacturing industry reported 437 ransomware attacks while companies in food and beverage industry reported 50 ransomware attacks, globally. Additionally, the healthcare and public health field reported a higher figure of complaints in regards to ransomware attacks in the same year.

AI robot with hands embedded on security tools illustration

According to Statista's Market Insights, it is estimated that the cybercrime cost will drastically increase within a period of four years, between 2024 and 2028. The cost increase will total $9.22 trillion in 2024 and $13.82 trillion by 2028. More individuals and organizations are at a high risk of having their sensitive data being tampered with or stolen online by cybercriminals.

The introduction of artificial intelligence in the quest to fight cybercrimes has been very promising. AI in cybersecurity has allowed faster detection of vulnerabilities while helping companies or businesses make informed decisions that will help prevent a surge of cybercrimes. With the help of machine learning algorithms, AI is better able to analyze wide range of data to identify anomalies or patterns that may indicate potential data breaches. This allows businesses to stay ahead of cybercriminals.

The traditional cybersecurity methods have been helpful in the past years in trying to fight against cybercrimes. However, in the current digital age they are not enough. Hamilton Business Technologies stated that cybercriminals are getting better and better at their hacking techniques. They not only target large corporations, but also smaller-owned businesses. This prompts for better and improved cybersecurity agents with improved security measures that will help build a strong wall that will prevent infiltration of hackers to the sensitive information of an organization. Additionally, given that new patterns and anomalies keep popping up daily indicates that the cybercriminals are becoming "more creative with their tactics and malware deployment." This calls for additional boost, like an AI-powered solution, that will offer a comprehensive data/information protection.

With the adoption of AI-powered solutions, companies, governments, and organizations will be better able to analyze a wide range of data in real-time. This will enable them to detect and respond to threats before they can cause data or information damage. Businesses that adopts AI-powered solutions can achieve a proactive approach to cybersecurity that will help them beat cybercriminals "burning arrows."

What are the most common cybercrime threats today?

Types of Cybercrime Treats

Ransomware

Ransomware attack is an art mastered by hackers to deny a user or an organization access to their files in their computer. For the victims to gain access to their files, a decryption needs to be performed on the encrypted files. Many cybercriminals leverage the desperate need of the victims to demand for a ransom price in order that they can decrypt the encrypted files and have the targeted organization or individual gain access. There has been numerous reports of companies or users who find paying a ransom price to be the easiest and the cheapest way to gain access to their files. And as mentioned earlier in this article, 46 percent of ransomware were reported globally by 2023. Find out more about How Ransomware Works.

Phishing

Phishing happens when an imposter impersonates a legitimate entity or organization with the aim of trying to acquire sensitive information from a user or an organization. In this case, the impersonator sends phishing messages that will seem manipulative, impelling the user to carryout some actions that will lead them to give off unauthorized access to sensitive information. The user may be made to install a malicious file on their device, clock a malicious link sent to them via email or massaging platforms, or "divulging sensitive information such as access credentials." Need to know more about how Phishing works and the different types of phishing? Read - Phishing Attacks

Malware

Malware is a short form of "malicious software." It is defined as any file or software designed to damage, exploit, or compromise data, network, server, or computer systems. The main aim of malware attacks is for the cybercriminals to damage or corrupt a computer network in order that they may steal data "or resources for monetary gain or sheer sabotage intent." Find out more about "What is malware?"

Data Breaches

Data breach is an incident where an unauthorized parties gain access to sensitive or confidential information. The information could include personal or corporate data. Find out more details about "What is Data Breach?"

Social Engineering

Social engineering is not literally a cyber attack, however, it is a mechanism whereby cybercriminals tactfully fool the victim, causing them to provide enough information that would trigger an attack, affecting the entire organization. What cybercriminals do, they work on gaining trust from the victim by pretending to be someone known by the victim. It could be via social gathering. The impersonator will play around with the mind of the victim, persuading them to perform some actions, which are unsafe. For instance, the victim may be encouraged to divulge personal information (date of birth, bank account details, or passwords) or click on web links, or open attachments that are malicious. Find out more about "How social engineering works."

Supply Chain Attacks

In supply chain attacks, cybercriminals exploit a company's trust in order that they may gain access to client network. Read more about "Supply chain security attacks."

Identity Fraud

Identity frauds involves the use of someone else's personal details to gain an unfair access to sensitive data or commit criminal activities. In this case, the cybercriminal takes over the victim's personal identity to engage in fraud activities. This makes the victim vulnerable to criminal charges, if the main perpetrator is not identified. Read more on "What is Identity Theft?"

Dark Web Exploitation

Data web exploitation is the means through which cyber attackers exploit vulnerabilities within a web application so that they can have unauthorized access to sensitive information or control the entire web application as they please. Find more details about "Data Web Exploitation."

Healthcare Cyber Attacks

Healthcare cyberattacks are crimes primarily directed to health facilities. Sensitive information about the facility or patients are prone to cybercriminal infiltration with the aim to steal the information for malicious use or gain money. According to a report by WHO (World Health Organization), there has been numerous reports about ransomware and other cyberattack cases on hospitals. Read the article on "Cyber attacks on healthcare" for more details about the report.

Insider Threats

Insider threats occur when an insider intentionally or unintentionally uses their "authorized access" to cause havoc to an organization's resources, mission, personell, information, networks, or systems. Find out more about "Insider Threats."

Denial-of-Service Attacks

Denial of service attack occurs when a malicious act by a cybercriminal prevents users from gaining access to information systems, devices, or other network resources. DoS involves jamming the "targeted host or network with traffic" with the aim of stopping the target from responding to messages or crashing the targeted systems within a network, "preventing access for legitimate users. Read "Understanding Denial-of-Service Attacks."

What is the Cost of Cybercrimes?

Financial losses to businesses every year is estimated at about $10B. A report by Statista pointed out that the FBI report on complaints logged via its Internet Crime Complaint Center (IC3) showed a significant figure between 2019 and 2023. It stated that year-over-year businesses lose approximately $2 billion in relation to cybercrimes. In addition to the solid cash lost, companies and businesses are also exposed to reputational damage and loss of customer trust, which can easily lead to further losses like losing loyal clients who contribute to the financial stability of a business. The following report gives an in-depth analysis of the actual number of complaints related to cybercrimes and the financial losses companies in various countries globally face year-after-year. "How much money is lost to cybercrime?"

Why Does Traditional Cybersecurity Fall Short?

One of the main reasons is that the modern threats are more advanced than the thought-to-be excellent cybersecurity approaches, traditional cybersecurity. These advanced cyber attacks are creatively formulated to compromise even powerful networks. For instance, advanced phishing attacks are made to evade traditional email filters. This puts even strong email networks at risk of being breached. Read more about "Why traditional cybersecurity fall short."

What is the Role of AI in Cybersecurity?

How Does AI Detect Cybercrimes?

AI is a part of machine learning, which makes it better able to identify anomalies and irregular patterns in code. What happens is that Machine Learning has the ability to scan through code and detect vulnerabilities that may not be noticed by manual assessment. In addition, AI can create "custom exploits using Machine Learning models." The art of Machine Learning allows it to create personalized attacks that are based on network traffic or application behavior analysis. These personalized attacks are meant to take part in larger attack frameworks when developing new attacks against a business entity's infrastructure. With the help of Deep reinforcement learning algorithms (DARLA), machines are able to learn how to work on intricate tasks to completion by mastering the patterns done by humans first. The reason why DARLA is more suitable for this kind of task is because it trains itself on human input rather than only depending on pre-programmed instructions from programmers.

How Does AI Work to Prevent Potential Cybercrimes?

AI uses algorithms to recognize patterns and anomalies that seem to indicate potential security breach by analyzing a wide range of data. Based on the model in action, AI can minimize the reaction time for breaches and mitigate the effects of cybercrime. This is because the models adopted possess capabilities like "automated threat response and real-time monitoring." It also utilizes ethics and human oversight to ensure the AI-based solution works in an ethical and traceable manner. Therefore, AI can be confirmed to offer business organizations a more proactive and efficient cybersecurity mechanism.

How Does AI and Big Data Boost Cybersecurity?

AI and Big Data allows automated response to incidents, spots potential threats sooner and more accurately, and invokes a proactive risk management. The collaboration between AI and Big Data allow businesses to comprehend and respond to the changing cyber threats better.

What are the Benefits of AI in Cybersecurity?

• Improved speed in potential threat detection that is done in a more effective and efficient manner.

• It reduces the reliance on human analysts on repetitive tasks.

• It enhances the accuracy of identifying and preventing threats in the system or network.

• It is scalable allowing for the protection of both small businesses and large enterprises from potential cybercrimes.

Conclusion

Organizations and businesses can significantly benefit from adopting AI-powered cybersecurity software to enhance their capacity for detecting and acting on threats. The article has been effective in highlighting the less complicated and faster way in which the AI program works to detect and counter potential threats that have the potential to undermine a firm's data security. The AI liberates human analysts from focusing on repetitive jobs that can be done through the use of AI. This allows them to focus on other creative and relevant habits that will help improve overall cybersecurity processes. As a business person, why not let AI-powered solutions handle your cybersecurity needs to ensure maximum security for your systems and data?