As technology advances, so do the tactics of cybercriminals. The rise of artificial intelligence has significantly transformed the landscape of cybersecurity, particularly in the realm of online scams and phishing attempts.
This transformation presents both challenges and opportunities for individuals and organisations aiming to safeguard their digital assets. Importantly, senior leaders can no longer simply rely on their IT teams to stay safe; they need to be active participants in the protection of new attack opportunities for cybercriminals in the age of AI.
The Evolution of Online Scams and Phishing
AI has empowered cybercriminals to create more sophisticated and convincing scams. Phishing, a common cyber threat, has evolved from simple email scams to highly targeted attacks using AI to personalise messages. Generative AI can analyse vast amounts of data to craft emails that mimic legitimate communications. This makes is difficult for individuals to discern between real and fake messages.
AI-driven tools can scrape social media profiles to gather personal information in seconds. This information is then used to tailor phishing emails that appear to come from trusted sources. These emails often contain malicious links or attachments that, when clicked, can compromise personal or organisational data.
Previous phishing attempts were more obvious when the instigators didn’t have English as their first language. Thanks to Generative AI, criminals are now fluent in any language.
AI as a Double-Edged Sword
While AI enhances the capabilities of cybercriminals, it also offers powerful tools for defence. AI-based security systems can analyse patterns and detect anomalies in real-time, providing a proactive approach to cybersecurity. Machine learning algorithms can identify suspicious activities by monitoring network traffic and user behaviour, enabling quicker responses to potential threats.
AI can automate routine security tasks like patch management and threat intelligence analysis, freeing human resources to focus on more complex security challenges. This automation is crucial in managing the vast amount of data generated in today’s digital landscape.
AI is already having a significant impact on cybersecurity. The World Economic Forum estimates that cybercrime will cost the world $10.5 trillion annually by 2025, partly due to the increased sophistication of AI-powered attacks.
A study by Capgemini found that 69% of organisations believe AI will be necessary to respond to cyberattacks, indicating the growing reliance on AI for cybersecurity measures, and an IBM report in 2023 revealed that the average cost of a data breach is $4.45 million, emphasising the financial impact of inadequate cybersecurity.
Strategies for Staying Safe
Individuals and organisations must adopt comprehensive cybersecurity strategies to combat the evolving threats posed by AI-enhanced cybercrime. Here are some that can be easily implemented.
- Educate and Train: Regular training sessions on recognising new AI phishing attempts and cyber threats are essential. Employees should be aware of the latest tactics used by cybercriminals and understand the importance of cybersecurity best practices.
- Implement Multi-Factor Authentication (MFA): MFA adds an extra layer of security by requiring users to provide two or more verification factors to gain access to a resource, making it more difficult for attackers to breach accounts. Every system in your organisation should be enabled with MFA.
- Ask employees to secure their personal accounts: MFA should already be in place for businesses of any size, but employees must engage MFA (also called 2-factor) security on their accounts to reduce the avenues in which criminals can attack an organisation. The website 2fa.directory provides instructions for all major platforms.
- Use AI-Powered Security Solutions: Deploy AI-driven security tools that detect and respond to threats in real-time. These tools can help identify unusual patterns that may indicate a cyberattack.
- Regularly Update Software: Ensure all software and systems are up-to-date with the latest security patches, including personal mobile devices. This reduces vulnerabilities that cybercriminals can exploit.
- Encourage Digital Curiosity: Promote a culture of digital curiosity that encourages individuals to stay informed about the latest technology trends and cybersecurity threats. This proactive approach can help identify and mitigate risks before they become significant.
The Role of a Family Password
In addition to organisational strategies, simple measures like having a “family password” can be effective in personal cybersecurity. With the rise of AI-generated voice clones, the likelihood of a senior executive being targeted with a phone call that appears to come from a distressed family member is becoming increasingly real.
A family password is a shared secret known only to trusted family members, used to verify identity during unexpected communications. This can prevent unauthorised access and ensure that sensitive information is only shared with verified individuals.
Criminals frustrated by sophisticated security measures in place protecting company data will move to the path of least resistance. Often, that means personal accounts. If you use Gmail for your personal email and haven’t enabled “2-Step Verification”, then can you be sure criminals aren’t already in your account, silently learning all about you and your family?
The digitally curious executive takes the time to deploy measures in their personal life. Simple measures include a password manager and enabling 2-factor authentication on all their accounts, starting with LinkedIn.
Conclusion
As AI continues to shape cybersecurity’s future, individuals and organisations must adapt and evolve their security practices. By leveraging AI for defence, educating users, implementing robust security measures at work and home, and passing some of the security responsibility onto employees, we can mitigate the risks posed by AI-driven cyber threats and create a safer digital environment.
Andrew Grill is an AI-Expert and Author of Digitally Curious: Your Guide to Navigating the Future of AI and All Things Tech.
- Cybersecurity
