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Exploring the Benefits of Artificial Intelligence and Race to Improve Cybersecurity

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Exploring the Benefits of Artificial Intelligence and Race to Improve Cybersecurity

February 22
11:50 2023
Exploring the Benefits of Artificial Intelligence and Race to Improve Cybersecurity
Artificial Intelligence in Cybersecurity Market
Cyber threats are not only hampering the productivity of businesses but also damaging the critical IT infrastructure and sensitive data of organizations.

According to Cisco Systems (US), the per capita connected device ownership will continue to rise, from 2.4 networked devices per person in 2018 to 3.6 devices by 2023, and with this, the scale and threat of data breaches and IoT malware are also likely to increase many folds in the coming years. The instances of cyberattacks are on the rise with the increasing pace of digitalization worldwide. Cyber threats are not only hampering the productivity of businesses but also damaging the critical IT infrastructure and sensitive data of organizations. The next generation of cybersecurity products is increasingly incorporating artificial intelligence (AI) and machine learning technologies. By training AI software on large data sets of cybersecurity, network, and physical information, cybersecurity solutions providers aim to detect and block abnormal behavior, even if it does not exhibit a known pattern.

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AI for endpoint security solutions includes integrating endpoint data and analytics to gain threat intelligence, which helps detect and expose an attack in a particular environment. Machine learning for network security focuses on detecting and mitigating attacks at early stages by analyzing network data at a scale and making billions of probability-based calculations based on the evidence it sees. The use of AI in cloud security is increasing, with several solutions being introduced in the market. The AI-based system is intended to help businesses predict, detect, reduce, and resolve cybersecurity breaches and assist in efforts to remediate application and infrastructure performance issues. Artificial intelligence has immense potential in cloud-based cybersecurity.

Unlike conventional cybersecurity products, cloud-based AI cybersecurity has a key characteristic: it can be deployed on the network router to protect all the connected devices within a network. This is important as many IoT devices cannot run antivirus software. The future of cybersecurity is unimaginable without AI, especially considering the enormous growth of connected devices worldwide. If utilized precisely, AI systems can be trained to identify various types of malware and protect sensitive data for organizations.

According to MarketsandMarkets, artificial intelligence in the cybersecurity market is projected to reach USD 60.6 billion by 2028 from USD 17.4 billion in 2022; it is expected to grow at a CAGR of 21.9% during 2023–2028.

Identity and access management, risk and compliance management, data loss prevention, unified threat management, antivirus/antimalware, intrusion detection/prevention system, security and vulnerability management, threat intelligence, and fraud detection are some of the significant applications of AI in the cybersecurity market. Darktrace; Cylance Inc.; Vectra AI, Inc.; Securonix Inc.; Sift Science; Acalvio Technologies; SparkCognition Inc.; ImmuniWeb; and Deep Instinct are some major players developing AI solutions in the cybersecurity market.

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