Generative AI and Cybersecurity in 2023

The Critical Intersection Newsletter

Author

Mark Lynd
June 13, 2023

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In this week's edition:

  • Cyber Stats - Data Breach & Incident Response

  • Original Article: How Generative AI is a Game-Changer for Cybersecurity in 2023 and Beyond

  • Cyber Quote - Bruce Schneier

  • Free Cybersecurity Resources - eBooks, tools, apps & services

  • Trending Story - An Illinois hospital is the first healthcare facility to link its closing to a ransomware attack

  • Cybersecurity News Highlights

  • Cyber Scam of the Week - Obscured, Obfuscated Links

  • Social Posts of the Week

Cyber Stats - Data Breach &Incident Response

Here are some interesting data breach and incident response statistics:

  1. The average cost of a data breach is now $4.24 million. (Source: IBM Security Cost of Data Breach Report, 2023)

  2. The number of data breaches has increased by 10% in the past year. (Source: Verizon Data Breach Report, 2023)

  3. The most common type of data breach is a phishing attack. (Source: Verizon Data Breach Report, 2023)

  4. The average time it takes to detect a data breach is 206 days. (Source: IBM Security Cost of Data Breach Report, 2023)

  5. The average time it takes to contain a data breach is 73 days. (Source: IBM Security Cost of Data Breach Report, 2023)

  6. The average cost of downtime due to a data breach is $1.2 million. (Source: IBM Security Cost of Data Breach Report, 2023)

  7. The average cost of lost productivity due to a data breach is $1.3 million. (Source: IBM Security Cost of Data Breach Report, 2023)

  8. The average cost of legal fees due to a data breach is $800,000. (Source: IBM Security Cost of Data Breach Report, 2023)

  9. The average cost of regulatory fines due to a data breach is $2.4 million. (Source: IBM Security Cost of Data Breach Report, 2023)

  10. The average cost of customer churn due to a data breach is $1.5 million. (Source: IBM Security Cost of Data Breach Report, 2023)

These statistics show that data breaches are a costly and disruptive event for businesses of all sizes. It is important to have a comprehensive incident response plan in place to minimize the impact of a data breach.

Original Article

How Generative AI is a Game-Changer for Cybersecurity in 2023 and Beyond

Are you keeping pace with the relentless evolution of cybersecurity? Have you integrated the most recent technologies into your security infrastructure to tackle the ceaselessly emerging threats, or are you clinging to the comfort of time-tested yet increasingly obsolete methods? Unless you are part of the small fraction of businesses that have already embraced generative AI for their cybersecurity needs, it's time to seriously contemplate its adoption.

What's The Fuss About Generative AI?

It's a subfield of artificial intelligence that's focused on creating new, previously non-existent data, spanning across various formats such as text, images, or even intricate code. This isn't merely a shiny new toy in the tech landscape—it's a revolution for cybersecurity. The reason? It can recognize and respond to novel, sophisticated forms of attacks that would have likely eluded traditional systems, ensuring your organization stays one step ahead.

How Generative AI Can Improve Cybersecurity

Let's delve deeper into the workings of generative AI in the cybersecurity realm:

  1. Unearthing Hidden Threats: Generative AI is like a detective with a magnifying glass, meticulously sifting through mountains of data, unearthing patterns that scream 'threat.' By doing so, it can spot nascent forms of attacks, offering a preemptive strike capability.

  2. Swift and Effective Response: Detection is only the first step. Generative AI excels in response too. It can react to attacks faster and more effectively than traditional systems, nimbly producing custom armor for unseen malware, ensuring your digital assets remain unscathed.

  3. A Trustworthy Compliance Ally: Generative AI can prove to be an invaluable aid in the ever-so-tricky realm of data protection and privacy regulations. It can generate detailed, timely reports on data breaches and other security incidents, turning the tedious task of compliance into a walk in the park.

You could be wondering why you should consider generative AI in your cybersecurity strategy at all. Here's some reasons why:

  1. Boost Detection Rates: Generative AI can uncover new forms of attacks that conventional systems could easily overlook. It's akin to having a vigilant security guard with night vision goggles, ready to spot danger in the darkest corners.

  2. Slash Response Time: Generative AI is the sprinter of cybersecurity. It can respond to attacks in record time, much quicker than conventional cybersecurity systems, providing an immediate and robust shield against intrusive malware.

  3. Significant Cost Reduction: Generative AI takes over a host of tasks related to threat detection and response, effectively slashing the cost of cybersecurity and freeing up resources for other essential business operations.

  4. Enhance Compliance Capabilities: Generative AI shines as a compliance partner. It can significantly aid in meeting data protection and privacy regulations by automating the generation of comprehensive, compliant reports.

However, the advantages of generative AI extend far beyond the higher-level, more strategic ones listed above.

Read more of the article here

Cyber Quote

Free Resources

Trending Story

An Illinois hospital is the first health care facility to link its closing to a ransomware attack

A ransomware attack hit SMP Health in 2021 and halted the hospital’s ability to submit claims to insurers, Medicare or Medicaid for months, sending it into a financial spiral.

www.nbcnews.com/tech/security/illinois-hospital-links-closure-ransomware-attack-rcna85983

Other Bytes

Massive phishing campaign uses 6,000 sites to impersonate 100 brands

A widespread brand impersonation campaign targeting over a hundred popular apparel, footwear, and clothing brands has been underway since June 2022, tricking people into entering their account credentials and financial information on fake websites.

www.bleepingcomputer.com/news/security/massive-phishing-campaign-uses-6-000-sites-to-impersonate-100-brands

ChatGPT creates mutating malware that evades detection by EDR

Mutating, or polymorphic, malware can be built using the ChatGPT API at runtime to effect advanced attacks that can evade endpoint detections and response (EDR) applications.

www.csoonline.com/article/3698516/chatgpt-creates-mutating-malware-that-evades-detection-by-edr.html

Cyber Scam of the Week

Obscured, Obfuscated Links

Recently, researchers at Avanan have discovered another technique that cybercriminals use to try to steal your information. In this technique, cybercriminals are using obfuscated links to show IP addresses instead of websites. Obfuscated links are URLs that have been modified to hide the real location of a website. 

In this scam, cybercriminals send an urgent email that appears to come from a legitimate source and prompts you to click on a link. The link seems legitimate, but hovering over it shows an IP address instead of a URL. Without a URL, it’s nearly impossible to verify if the link is legitimate. If you open the link in your browser, cybercriminals can download malware onto your device or redirect you to a malicious website. 

Follow the tips below to stay safe from similar scams:

  • When you receive an email, stop and look for red flags. For example, watch out for emails with different reply-to and sender addresses.

  • Before you click a link, hover your cursor over it. If it shows an IP address, it could be a phishing link. 

  • Be cautious of urgent requests. Cyberattacks are designed to catch you off guard and trigger you to click links impulsively. 

This Cyber Alarm is an excerpt of a very informative article by Stu Sjouwerman and is provided by our sponsors: Netsync & KnowBe4

Cybersecurity Social

Just a couple of interesting social posts