Rise in number of cybercrimes drives the artificial intelligence (AI) in cyber security market. Global increase in IoT adoption and number of connected devices have simultaneously severed the risk of cyber attacks. Most mutual cyber frauds occurred and registered by large companies such as payment card thefts and identities, if not resolved on time can lead to huge financial losses. Thus, adoption of advance security AI solutions is expected to propel growth of AI technology in cyber security market.
AI security solutions not only provide broader security as compared to human capabilities but also streamline complete acknowledgment and recognition procedures related to cyber frauds. Thereby, rise in cyber security risk occurrences is further expected to boost the adoption of AI technology in cyber security market.
However, dearth of AI technical expertise for advance software implementation can hamper the AI in cyber security market growth. Contrarily, rise in demand for cloud-based security solutions among small and medium businesses and increase in use of digital media for business expansion are the opportunity factors for the global market.
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Ongoing digitization is expected to increase with a fast pace in the coming years. One of the most significant and critical threats it poses is that our personal information is at risk like never before. Cyber-attacks are prevalent and affect every individual, business, and government. AI has proven to be enormously useful when it comes to identifying and detecting cyber threats based on analyzing data and recognizing a threat before it exploits a susceptibility in information systems.
Developers are using AI to improve biometric authentication and get rid of limitations to make it a reliable system. The best example is Apple’s iPhone X devices, which uses face recognition technology. The technology ‘Face ID,’ identifies user’s facial features via neural engines and built-in infra-red sensors.
This AI software creates a sophisticated model of user’s face by identifying key patterns and correlation. Apple claims that with this technology, there is only one-in-a-million chance of misleading the AI and opening your device with another face. Thus, AI is proven to be a prominent technology to help companies be prepared against cyber threats.
Major industries are investing in AI but owing to dearth of in-house skilled talent, industries are lack to execute their AI strategies. Implementing an AI system requires technical expertise, which helps AI to deal with high-level machine reasoning, talent search with applications, and implementation of client models. Recruitment and up skilling are intertwined problems when it comes to addressing AI skill gaps.
Certainly, deficiency of skilled talent is expected to be a major barrier in progressing AI initiatives among industries, followed by lack of budget, lack of access to right technology, and lack of access to useful data. A report published by (ISC)², Inc. predicted that the U.S. cyber security workforce would grow by 62% in the coming years to meet business needs for business operational abilities.
Globally, the numbers are even more intimidating, as organizations that adopted cyber security solutions calculated that the global cyber security workforce needs to grow by 145% to eliminate skill gaps.
Major players analyzed include BAE System Inc., Cisco Systems, DXC Technology, IBM Corporation, Intel Corporation, Kaspersky Lab, Lockheed Matrin Corporation, McAfee LLC, Nvidia Corporation, NortonLife Lock Inc., and Palo Alto Networks Inc.,
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COVID-19 Scenario Analysis:
- The COVID-19 pandemic has led many employees to work from home and students to learn virtually, therefore, enterprise virtual private network (VPN) servers have now become a support to major companies/schools. Protection of one’s IT infrastructure through security and availability of security framework is expected be a major focus going forward. There is a possibility that an organization’s unpreparedness can lead to security misconfiguration in VPNs, thereby exposing sensitive information on the internet and devices to Denial of Service (DoS) attacks. In addition, some users use personal computers to perform official duties, which could also pose a great amount of risk for organizations.
- Working of many security teams is likely to be reduced, owing to the COVID-19 pandemic, thereby making detection of malicious activities difficult and response to these activities even more complicated. Revising patches on systems may also act as a challenge if security teams are not operational.
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