Last week, Google announced it’s coping with one of the largest ‘distributed denial of service’ (DDOS) cyberattacks ever…
A DDOS attack, allows hackers to bombard a site with information requests to try to overwhelm it and force it to shut down.
This attack started in August and is still ongoing.
Google isn’t the only major company that’s been hit with DDOS cyberattacks recently…
Amazon, casino operators MGM and Caesars Entertainment, and cleaning product maker, Clorox were all targets.
And these companies have come out to say these attacks will impact profits.
The worrying part?
Cyberattacks threaten critical infrastructure such as energy, manufacturing, water treatment and nuclear facilities. Imagine a country shuts down due to cyberattack on power facilities.
They’re also increasing in volume and frequency.
So, what is the solution to fighting and winning against these critical cyberattacks?
And how do these cyberattacks provide investors an opportunity to profit?
The tech reshaping nearly every industry…
Up till now, cyber security has at best been able only to offer preventative measures – with threat detection tools and vulnerability management, but this is about to change.
Artificial intelligence (AI) is reshaping nearly every industry – and cybersecurity is no exception.
AI-based cybersecurity solutions use machine-learning algorithms to detect and respond to both known and unknown threats in real-time.
These algorithms are trained using vast amounts of data to identify suspicious patterns that are difficult for humans to see.
Machine-learning algorithms can analyse network traffic patterns to identify unusual behaviour that may indicate a cyberattack. Then they alert cybersecurity personnel or even take automated action to mitigate the threat.
Best of all, AI-based solutions can also continuously learn and adapt. This means, you can train AI on new data to improve its ability to detect and respond to cyberattacks that continuously evolve over time.
It’s why, 76% of enterprises have prioritised AI and machine learning in their IT budgets, according to Forbes.
Spending on AI-based cybersecurity is expected to soar 5-8X
According to Global X ETFs, companies spent nearly $16.5 billion on AI-equipped cybersecurity tools in 2022. This is expected to rise 5x in the future.
Meanwhile, other experts are even more bullish predicting that spending could surge over 8x higher to $135 billion by 2030.
Either way, investors should definitely keep an eye on cyber-defence companies using AI to combat cyberattacks.
Companies like, CrowdStrike, Palo Alto, SentinelOne, Zscaler and Fortinet to name a few.
In short, AI’s advanced ability to detect and combat cyberattacks globally, makes it the ultimate cybersecurity weapon for the future.
PS. Want to know where South African Investors are putting their money in cyber security, go here.
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