Artificial Intelligence has driven forward many facets of businesses’ operations, but it has also been an impediment. This is because cybercriminals are leveraging it to carry out more sophisticated attacks, presenting a moral conundrum for business leaders: lean into AI for increased efficiencies, or avoid it outright to side-step extra security concerns. 

Many companies are opting for the latter: 76% of respondents to an independent Censuswide poll of 250 cybersecurity leaders claim they halted their AI implementation due to cyber risk, while 81% say the tech offers more potential threats than benefits. 

Regardless, only 22% of respondents chose to ban staff from using AI outright, and over one third (35%) of respondents chose to use the applications to increase efficiency and improve cybersecurity.

This discussion comes on the backdrop of nearly one in five (18%) of respondents suffering a “serious cyber breach” this year. Government figures show that 32% of businesses and 18% of charities have experienced an attack in the last year, this number growing for medium businesses (59%) and large businesses (69%). 

Suid Adeyanju, CEO at RiverSafe, the firm that commissioned the study, said: “AI-enabled attacks themselves are still evolving which requires businesses to constantly review and update their cybersecurity measures to ensure that they are sufficiently protected.

“Moving forward, security teams must ensure the safe development of AI for their organisation while maintaining their security posture for the evolving threat that AI poses. Balancing these two aspects is key to unlocking the potential of AI as a positive business tool.”

Meanwhile, the UK is experiencing a serious talent shortage in cybersecurity, and tech more widely. Not even half (42%) of security leaders said they had a fellow member of staff with cyber security as a formal part of their job and 21% admitted their cyber strategy is outdated and in need of urgent refreshing. 

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Cyber security spending has increased 64% as a result of the increased sophistication of attacks thanks to AI. Companies are also heavily investing in the processes of cyber defences, with 69% specifically investing in cyber protections against AI. 

This is to combat the proliferation of AI-assisted cyber attacks. A report from Acronis shows email attacks have surged 464% compared to the first half of 2022, largely due to the availability of AI-powered phishing tools available on the darkweb. 

Almost all (95%) of cyber security experts are now calling for the government to regulate the management of AI in relation to cybersecurity. 

“There are clear benefits to AI but that cannot come without proper checks and balances and a legal framework to protect businesses and the economy,” says Matthew Scott, Police and Crime Commissioner in Kent. “It is vital that government, policing, security services and business work together to boost prevention, education, and protection in what is a rapidly developing industry.”