By According to a recent report by Barracuda Network, a cloud-enabled security solutions provider, half of the respondents, or 50 percent, believe that Artificial Intelligence (AI) will empower hackers to launch more cyber attacks. The study also highlighted that within the last year, 71 percent of participants experienced a ransomware attack, with 61 percent opting to pay the ransom. Fleming Shi, the Chief Technology Officer (CTO) at Barracuda, emphasized the importance of proactive monitoring and Artificial Intelligence -driven attack detection to prevent the escalation of such incidents, stating, “By preparing for these scenarios today, organizations can significantly reduce the impact and cost of these incidents.”
The survey encompassed a total of 1,917 IT security practitioners across the United States (522), the United Kingdom (372), France (329), Germany (425), and Australia (269).
The final pool of respondents was representative of enterprises with a workforce ranging from 100 to 5,000 individuals.
Furthermore, the report highlighted that the average annual cost incurred for responding to compromises stood at $5.34 million.
A significant majority, comprising 57 percent of respondents, disclosed that their organizations fell victim to one or more cyberattacks in the past 12 months.
Approximately 48 percent reported experiencing a data breach in the same period, resulting in the compromise of individual records.
