Artificial intelligence (AI) has become increasingly popular in recent years, offering functions that simulate human intelligence. While AI technology has many benign applications, it can also be weaponized by cybercriminals. In an experiment conducted by cybersecurity firm Home Security Heroes, an AI tool was able to crack 51% of common passwords in less than one minute, 65% in under one hour, 71% in one day and 81% in one month.
As this threat continues to grow, it is imperative for businesses to understand the risks of AI-enhanced cyberattacks and adopt strategies to mitigate these risks. Cybercriminals can use AI to seek targets and launch attacks in numerous ways. Examples include using AI to:
To protect against these vulnerabilities, businesses should implement cyber risk management measures. These measures can reduce the risk cyberattacks and mitigate related losses. Here are some strategies to consider:
Read our previous blog about the Value of Cyber Insurance.
Businesses should be aware of the risks associated with the weaponization of AI technology and implement effective strategies to mitigate these exposures. By staying informed about AI-related developments and following best practices, businesses can secure their operations’ data and minimize cyberthreats.
Contact RMC Group today for additional risk mitigation and insurance guidance with one of our Insurance Professionals. We can be reached at 239-298-8210 or [email protected].
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