Artificial Intelligence (AI) is New Weapon of Cyber Criminals
With the passage of time, businesses and organizations are exploring ways to apply the power of Artificial Intelligence (AI) to tackle a gamut of challenges proactively. One of the areas where AI can bring sea change is cybersecurity. Using AI, businesses and federal agencies can not only understand the cyber threats but also proactively mitigate cyber risk. However, on the contrary, bad actors in cyberspace are a bit ahead in leveraging AI to compromise business systems and steal information or money. Their AI prowess came to fore when Bangladesh Bank came under a cyber attack and funds were withdrawn to hundreds of bank accounts around the world.
Security analysts, who studied this event, detected how hackers used AI-driven software to transfer money to numerous accounts in an automated manner. The software was successful in dodging multiple security policies while concealing identities and location of the attackers. These bad actors could execute the cyber heist as how to fudge the security mechanism was already taught to the software. The cyber attack morphs into a catastrophe when it is crowdfunded and AI-driven.
Though AI has empowered everyone including good and bad actors, businesses and federal agencies should ponder over the fact that bad actors are also human beings. Through continuous enhancement of AI-driven security mechanisms, good actors can stay abreast of developments and outsmart malicious actors in the cyber world.