Due to the increasing incidence of cyber crimes across the globe, the adoption of artificial intelligence (AI) in cyber security is expected to rise in the coming years. Since the last few years, the occurrence of cyber crimes and frauds, including card payment and identity thefts, has increased significantly, which has, in turn, boosted the incorporation of AI in cyber security. This is primarily due to the ability of AI-based solutions to tackle cyber fraud by reducing the response time, identifying threats, and providing refining techniques that help in distinguishing attacks requiring quick response.
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Mid-tier companies, owing to their weaker security systems and lower investments in cyber security, as compared to the larger organizations, are facing frequent cyber attacks. These attacks are causing these companies to lose millions of dollars in revenue every year, which is further driving the adoption of AI in cyber security. As a result, the global AI in cyber security market is predicted to exhibit exponential growth in the coming years.
Modern cyber-security solutions employ the use of a wide array of AI-powered technologies, such as natural language processing (NLP), image processing, speech recognition, and machine learning. Amongst these, the machine learning technology is expected to play a major role in combating cyber attacks in future. This is mainly ascribed to the characteristic ability of the technology to enhance an organization’s system performance by understanding various patterns and getting acquainted with different situations. Moreover, this technology uses the organization’s existing data to mimic cognitive functions, which protects the systems against cyber-attacks.
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AI is widely used for data security, network security, cloud security, and identity and access security. Out of these, network security recorded the highest implementation of AI-based cyber security solutions in the past. The main factors fuelling the rapid adoption of AI-powered solutions in network security are the massive vulnerabilities and susceptibilities witnessed in the several wireless networks adopted by the major companies for their operations. It is all about network; once hackers get through to the network, they can access all the critical data of a company.
Therefore, due to the escalating incidence of cyber crimes and increasing need for data privacy and protection, the demand for AI-based cyber security solutions is forecast to witness a huge surge in the coming years.
