Metaverse: The treasure trove every big tech is after

Highlights

Malicious bots account for two-thirds of the total internet traffic, which explains the 41% rise in bot attacks.
Malicious programs account for 57% of all e-commerce attacks, and a similar pattern has been observed in the financial services, media, and other cash-rich sectors.
Hunter bots are AI tools that track down anomalous behavior and glean valuable insights to counter threats.

Artificial Intelligence has transformed cybersecurity solutions by optimizing threat detection and response times considerably. These tools can evaluate millions of events, analyze their nature, segregate them, and deliver valuable insights based on the event pattern. These ready insights reduce the time taken to detect and resolve security issues, which can otherwise result in data breaches and cause losses worth millions of dollars.

According to a report by IBM, the average cost of a data breach is $4.24 million because the onus of keeping user data secure now rests upon the business that collects it. If adequate measures are not implemented, the organization could be held liable for the breach under the GDPR, HIPAA, PCI DSS, or other applicable laws. So, the increase in malicious bot traffic demands the implementation of hunter bots and other AI tools. These are crucial in minimizing losses when the inevitable happens.

Threat Detection and Response Mechanism

Why Count on AI-based Cybersecurity Tools?

AI-based cybersecurity tools automate mundane cybersecurity tasks, allowing organizations to focus on what matters — threat response strategy, remediation, and containment measures.

Below are some core benefits of using AI tools to secure IT environments.

Manually distinguishing between human and bot traffic is nearly impossible because herders now program their bots to perform random clicks and non-linear mouse patterns. Even if this feat is achieved manually, it would be too late to remediate and contain the breach. Businesses that manage to speed up the remediation and containment process tend to cut their costs considerably.

These can be predefined by the cybersecurity teams based on the type of anomalies detected. According to IBM, using such advanced AI cybersecurity tools can lower an organization’s breach losses by up to $3.5 million US Dollars.

Advanced AI-based threat detection tools not only distinguish the traffic type but also understand the pattern and trigger preventive actions.

To manage and remedy

Advanced Threat Management and Effective Remediation

Every day, around 450,000 new malware programs are detected, and AI does a fantastic job of blocking out newly introduced malware by understanding patterns and triggering actions. So, the response time is considerably reduced compared to other traditional methods. This is because AI learns from how the network behaves and identifies anomalous behavior based on previous deviations.

AI tools scan and monitor the network, enabling the organization to evaluate and quantify the potential impact of an attack. Also, the network traffic behavior aids in the identification of threat vectors, which is crucial for remediation. It enables cybersecurity professionals to understand how they can isolate critical resources and prevent disruption of business operations.

Lowers costs

Lowering cost without compromising on security

Traditional cybersecurity measures involve setting up an in-house Security Operations Center (SOC), which can cost between $200,000 and $400,000, with annual operating overheads equivalent to 50% of the set-up costs. The only other option is to hire Managed SOC service providers, and although there is a cost-benefit, it lacks personal involvement by an expert. A more viable solution would be to deploy innovative AI tools and a smaller in-house cybersecurity team. This lowers the overall costs without compromising on security.

In 2021, there was a 40% increase in GDPR fines, and such stringent measures by authorities put businesses under constant pressure to protect customer data. They are compelled to implement cybersecurity measures to fortify the organization’s overall security, failing which they could incur the wrath of authorities and be fined for non-compliance.

While this might seem doable for businesses that generate billions of dollars in annual revenues, the smaller ones often struggle. But there is no escape — businesses of all sizes must protect customer data. With the rising cybersecurity costs, AI will indeed be the catalyst in determining whether the industry can keep up with the threat actor community or succumb to breaches and the dire consequences.