AI to play ‘pivotal role’ in combatting cyber risk – GlobalData

Artificial intelligence (AI) is expected to play a “pivotal role” in the way firms combat cyber risks.

That was according to data and analytics company GlobalData, which said that AI can improve threat identification and streamline the management of vulnerabilities.

Within the insurance space, firms have started using advanced technology to help policyholders better tackle cyber risk.

For example, managing general agent (MGA) Coalition touts what it calls “active insurance” to help businesses mitigate risk – this combines cyber security tools, incident response digital forensics and insurance coverage.

The new Cyber Monitoring Centre, which was launched on 1 January 2024, also aims to bring “greater clarity and transparency” to complex cyber incidents, as well as enable UK organisations to “better prepare for and respond to these events”.

Vaibhav Gundre, project manager of disruptive techology at GlobalData, said: “The ability of AI to improve threat identification, streamline the management of vulnerabilities and enhance the efficiency of incident responses is key in addressing the continuous evolution of cyber threats.”

Patents

This came after Google’s announcement about an AI cyber defence initiative, which is aimed at improving global cybersecurity against more sophisticated and pervasive cyber threats.

Gundre explained that the progression of defensive AI had been underscored by a 13% compound annual growth rate in patent applications over the last three years.

“[This reflects] a strong commitment to innovation,” Gundre added.

”This trend is also indicative of the recognised importance of having formidable cyber defense systems in place, signifying substantial research and development activities aimed at overcoming new cyber threats.”

He added that the ”rapid evolution of cyber threats, coupled with the complexity of regulatory landscapes, underscores the need for continuous innovation and collaboration”.

”By staying vigilant and embracing a proactive approach, organisations can navigate the evolving cybersecurity landscape with confidence, safeguarding critical assets and preserving digital trust.”