J.S. Held’s Inaugural Global Risk Report Examines Potential Business Risks & Opportunities in 2024
Read MoreCyberattacks powered by artificial intelligence have become more sophisticated as bad actors utilize machine learning to analyze vulnerabilities, automate exploits, and outpace traditional security measures. Through the use of AI to refine their attack strategies, these cybercriminals are greatly increasing the likelihood of their success. Indeed, AI is emerging as the most frequently recognized and significant threat expected in the next five years.
As AI becomes an operational tool within more organizations, it can inadvertently increase their attack surface and create more potential vulnerabilities through the proliferation of “Internet of Things” (IOT) devices, which are linked to AI systems. Additionally, there is a shortage of skilled cybersecurity professionals knowledgeable about AI. Furthermore, AI-driven breaches can lead to significant reputational damage, where a single incident can erode customer confidence and lead to a loss of business. Finally, increased scrutiny from regulators may ensue, resulting in financial penalties and greater compliance costs.
Organizations must respond to AI-enabled cyber threats by raising awareness and fortifying their defenses. However, hiring a full-time chief information security officer (CISO) to design these responses can be cost-prohibitive. One alternative is to retain a Virtual Chief Information Security Officer (vCISO), a cybersecurity expert who provides strategic leadership and guidance on a contractual basis. Unlike a traditional CISO, a vCISO operates remotely and can serve multiple clients simultaneously, offering a flexible and cost-effective solution.
This article focuses on how a vCISO can address emerging AI cyber threats and help an organization address the following questions:
Automated attack tools are basically bad actors that operate without human intervention. These automated systems use software to find and exploit vulnerabilities in computer systems. They can run continuously, searching for weak points, which makes them particularly dangerous.
Automated attack tools can lead to significant problems for individuals and organizations, including:
AI-powered malware can evolve by employing machine learning to adapt to detection methods. This adaptability makes it more challenging for traditional antivirus solutions to identify and neutralize threats. To protect against AI-generated malware, a vCISO can help organizations keep their software updated, install comprehensive security solutions that utilize advanced detection methods, and perform regular backups of critical data, making sure the information is stored offline or in a secure cloud environment.
An insider threat can involve someone intentionally causing harm—like stealing data—or unintentionally creating vulnerabilities, such as through negligence. These threats can lead to data breaches, financial loss, and damage to an organization’s reputation. Cybercriminals use AI to analyze employee behavior and identify vulnerabilities, allowing them to target individuals who may be more susceptible to manipulation.
AI significantly affects how organizations manage insider threats, both positively and negatively. On one hand, AI can enhance security by improving detection and response to suspicious behaviors. It analyzes user activities and identifies anomalies, helping security teams spot potential threats early. On the other hand, AI also empowers bad actors. Cybercriminals can use AI to exploit insider threats more effectively, creating targeted attacks that manipulate vulnerable employees. This dual-edge effect makes it essential for organizations to adopt advanced security measures and foster a culture of awareness to protect against insider risks effectively.
AI significantly enhances insider threat management by enabling organizations to detect unusual behavior patterns and potential risks in real time. By analyzing user activity and automating alerts for suspicious actions, AI helps security teams respond quickly and effectively, ultimately reducing the likelihood of data breaches and ensuring a more secure environment. The use of AI in managing insider threats leads to several important benefits:
Adapting AI systems to continuously evolving threats requires ongoing investment and expertise, making it difficult for organizations to maintain effective insider threat programs. Balancing security with privacy and ensuring accuracy remains a critical challenge in this area. Some additional concerns to consider are:
A vCISO can provide organizations with enhanced security posture, cost-effectiveness, expert guidance, and the ability to adapt to evolving threats, especially those driven by AI. Contracting with a vCISO allows organizations to implement a structured risk management framework by bringing expertise in threat intelligence, and monitoring and enabling organizations to adopt proactive measures against emerging threats. Furthermore, since every organization has unique security needs, a vCISO can develop customized security strategies that align with the enterprise's specific goals, industry standards, and regulatory requirements by taking proactive steps in the areas below:
A robust incident response plan (IRP) helps organizations quickly identify and contain security incidents, reducing the potential impact and damage to systems and data. A strong IRP also helps organizations meet regulatory requirements and industry standards. With a structured response in place, organizations can recover from incidents more swiftly, ensuring minimal disruption to operations and restoring normalcy effectively. The key steps to constructing an effective IRP include:
The rise of AI presents significant cybersecurity challenges that organizations must confront to protect their digital assets and maintain operational integrity. By adopting proactive strategies, organizations can better defend against AI-driven cyber threats. To do so by hiring a full-time CISO can be prohibitively expensive – especially for small to medium-sized enterprises. Instead, retaining a vCISO provides access to top-tier cybersecurity expertise without the burden of a full-time salary, benefits, and associated overhead costs. Another advantage is that vCISO services are scalable, allowing organizations to adjust their level of engagement based on changing needs, whether it's full-time, part-time, or on-demand. More important is the fact that investing in vCISO services can prevent costly data breaches that result in litigation, operational disruptions, reputational damage, and regulatory fines. By identifying vulnerabilities and implementing robust security measures, organizations using a vCISO can save significantly on potential incident-related costs.
We would like to thank Kevin Gorsline for providing insight and expertise that greatly assisted this research.
Kevin Gorsline is a Managing Director in J.S. Held's Global Investigations practice who joined following J.S. Held's acquisition of TBG Security. For several years, Kevin served as the Chief Operating Officer and head of the Risk and Compliance practice at TBG Security, where he was responsible for providing the leadership, management, and vision necessary to ensure that the company had the proper operational controls, administrative and reporting procedures, and people systems in place to effectively grow the organization and to ensure financial strength and operating efficiency. His experience and leadership throughout his career have been focused on developing and delivering information security services and solutions, providing outstanding client service, and driving profitable revenue growth. Kevin brings established proficiency as an IT leader with extensive experience in risk and compliance services, applications development, and implementation projects both in the United States and abroad.
Kevin can be reached at [email protected] or +1 843 890 8596.
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