Securing Your Business From Ransomware and AI
The annual cost of cybercrime worldwide in 2024 was $9.2 trillion and is expected to grow. While some businesses may feel exempt from the threat of cybercrime due to their smaller size or type of data collected, 81% of companies that experience a cyberattack are those with under 100 employees. The fact is that most companies will at some point suffer a cyberattack. The effects of such an attack can be devastating to a business in terms of ransom demanded, reputation damaged, downtime incurred, intellectual property stolen, and overall business culture harmed. And with the average downtime following a cyberattack lasting 14 days and the average ransom costing $800,000, you need to ask yourself if your company is ready to and capable of absorbing these costs.
Cybersecurity is the number one threat to businesses today. Cybercrime and ransomware criminals run highly sophisticated business models that have exponentially improved in speed and efficacy with the utilization of Artificial Intelligence technologies. As hackers have adopted AI machine learning specifically aligned and tasked to each capability’s strength, the result is hyper-targeted campaigns, enhanced by machine learning and robotic process automation. AI has sped up the ability to create new malware and as every attack is unique, the threat of all cyberattacks is enhanced.
With preparation, potential cyber threats can be deterred, costs can be minimized, and risks can be transferred to insurance companies via strong cybersecurity policies. You can protect your business. Watch the video of our C3 Cyber Summit for more in-depth information on how to best secure your business from ransomware and AI in this quickly evolving world.
Watch the full recap from our recent Cyber Security Summit hosted at C3.
