As the race to AI gains momentum, organizations must ensure they are protecting their businesses against cyberattacks powered by generative AI.
As Generative Artificial Intelligence (AI) tools, including ChatGPT, are increasingly integrated into business operations, the use of AI applications continues to increase, with a third of organizations using them on a daily basis in at least one area. This widespread adoption also leads to increased cybersecurity threats and risks. As these tools gain popularity, the likelihood of intrusion and data breaches increases, highlighting the importance of businesses taking a proactive approach to protecting sensitive data.
In fact, a recent Darktrace study revealed a 135% increase in social engineering attacks between January and February 2023. This spike corresponds to the widespread adoption of ChatGPT and the reality that cybercriminals are using its full technological capabilities to launch more convincing attacks.
The Rise of Cyberattacks Powered by Generative AI
Cyberattacks, whether through phishing, malware or brute force, are on the rise, and with no signs of slowing down in sight. The Anti-Phishing Work Group (APWG) reports that a total of 4.7 million phishing attacks took place in 2022 alone, representing an increase of more than 150% annually since the start of 2019. The volume, frequency and sophistication of attacks continues to grow. As OpenAI unveiled its latest iteration, GPT-4, IT professionals face important decisions on whether to adopt the technology, given the security risks it poses.
Beyond its innovative capabilities, a notable area of concern lies in the potential of generative AI to enhance the effectiveness and scale of cyberattacks, by providing automated generation of content that produces highly compelling text, and leads to the rise of spear phishing and social engineering hacking attacks. This has prompted experts to take a closer look at the implications for business cybersecurity strategies and strengthen IT defense mechanisms.
Specifically, the accessibility of ChatGPT could result in a lower entry fee for bad actors, allowing inexperienced or amateur criminals to launch increasingly sophisticated cyberattacks. Generative AI makes it easier for them to target organizations. The solutions to make this process easier for ChatGPT are straightforward. This means not only will there be more attacks, but also more experienced attackers who will also use phishing and other tactics in increasingly sophisticated campaigns.
In response, the Federal Trade Commission (FTC) launched an investigation into the potential overall harm that ChatGPT could cause to consumers. While its potential to amplify fraudulent strategies is recognized, the broader implications of generative AI, such as its potential to facilitate increasingly sophisticated attacks, should also be considered by companies looking to protect their most sensitive assets and intellectual property.
Increasing costs and complexity of cyberattacks
Given the increasing frequency and complexity of cyberattacks, it’s no surprise that the cost of a single security breach is exploding. For businesses, there is a range of potential threats that could pose a significant challenge for IT security teams.
According to McKinsey, the number of different malware variants has grown from fewer than 10 million in 2010 to more than 130 million a decade later, with new, more complex types of malware emerging, such as “fileless” malware embedded in a native scripting language or written directly into memory. These attacks allow malicious code to move laterally through the environment.
Social engineering attacks rely on human error and target unsuspecting users across the entire network. Organizations need to have complete visibility and be able to understand network patterns to identify social engineering attacks in real time, so they can eliminate both large volumetric attacks and low-resource attacks.
Make every second count in the age of AI
As cyberattack defense becomes increasingly complex, every second counts. Mitigation time is a critical factor in an organization’s decision-making process, and an always-on solution that can defend against even the most severe attacks provides businesses with the best possible defense.
Cyber attacks can be detrimental to businesses, causing financial setbacks, production disruptions and reputational damage. However, this can be avoided by implementing the right solutions, effectively preventing these attacks and protecting businesses from damage.
With ongoing cyber protection, organizations can rest assured that “bad” actors will be blocked, allowing businesses to remain operational.
Preventing cyberattacks will only be effective if businesses have full control over what happens on their network and understand the traffic/application linkages. Visibility into all network traffic and operations is essential to address the new challenges businesses face today in this world of generative AI tools and cyberattacks.
