Published 14:46 IST, January 18th 2021
AI Technology to enter cybersecurity market by 2030, will replace human jobs
AI technology will enter Cybersecurity market due to rise in instances of security threats as cyberinfrastructure adapts to work-from-home during the pandemic.
Artificial Intelligence (AI) will enter the cybersecurity market by 2030, replacing human jobs and is expected to generate USD 38.2 billion by 2026 from 8.8 billion in 2019 in the highest CAGR of 23.3 per cent. AI is projected to make revenues worth $101.8 billion in 2030, according to ResearchAndMarkets analysis and a new report published by IT security firm, Trend Micro. Due to the rise in instances of cyber threats as cyberinfrastructure adapts to work-from-home during the pandemic, and growing concerns of data and a spike in the vulnerability of Wi-Fi networks to security threats, the AI in cybersecurity is expected to grow at a fast rate in the next 5 years span.
Key players such as Darktrace, Cylance, Securonix and IBM are now looking towards AI for handling security incidents in cloud workloads, emails, endpoints, networks and servers to secure the Internet of Things (IoT) infrastructure. According to the cloud security firm’s report, at least 41 per cent of IT professionals believe, to tackle the never-ending race with cybercriminals and continually evolving cyber threats, firms will automate cybersecurity with AI to strengthen cybersecurity. “Concerns have been raised regarding how it will tackle automation in data analytics as the market for artificial intelligence (AI) continues to grow,” Trend Micro asserted. It projected that cyberspace will transform into automated individual decision-making, including profiling and the tech industries will retool products and services to adapt to AI technology.
“Organisations, especially global enterprises will have less control over their data. Delineating where data is stored and processed will become more difficult. The decreased visibility into enterprise devices only gets more problematic when employees access personal apps from work devices,” the report ‘Turning the Tide’ warned.
New avenues for cybercriminals
Cloud security firm cited the growing threats from cybercriminals, presenting cybercrime group TeamTNT’s attack that exposed Docker APIs using the XMRig cryptocurrency miner as an example. The attack involved the use of an IRC (Internet Relay Chat) bot. “The IRC bot is called TNTbotinger and is capable of distributed denial of service (DDoS),” the firm explained. A shift to the home-work environment has opened new avenues for cybercriminals to abuse, and hence this has created a growing need for IT to upgrade their infrastructure for more hybrid environments, both personal and work, by plunging into the AI landscape in the cybersecurity market.
Updated 14:46 IST, January 18th 2021