As Breaches Are Set Soar 175%, is AI the Answer?

by Bharat Mistry

Today we live in an age of data breaches. But is there hope of a more secure future around the corner? Not according to the latest industry estimates, which claim that the number of compromised records globally will jump an astonishing 175% over the next five years. With no let up in the relentless targeting of corporate IT systems, we need to look to new technologies to help steer a path to a more resilient online world. But how?

To find out more, join some of the world’s leading cybersecurity experts at this year’s highly anticipated CLOUDSEC event in London next month, where the theme is Freedom to Connect: Mind Versus Machine.

Billions breached
Those Juniper Research estimates claim the number of compromised records could stand at an astonishing 33 billion in 2023 alone — up from 12 billion this year and reaching a cumulative total of over 146bn. After big-name incidents over the past few weeks at Reddit, Premier Inn, Ticketmaster and more, the latest firm to confess all is Butlin’s. Although the holiday camp owner claimed no payment card data or passwords have been taken, as many as 32,000 records may have been compromised. Crucially, they include holiday start dates — information a hacker could sell to opportunistic thieves looking for houses to rob.

The problem with many of these breaches is that they fuel downstream fraud. Just this week the latest figures from Compare the Market revealed fraud losses exceeded £2bn last year, jumping 38% from the previous 12 months. Unless we stop this kind of thing at source, by improving corporate security, the cybercrime market will continue to flood with lucrative digital identity data.

Fighting back
According to Juniper’s analysis of 48 leading cybersecurity companies, “AI and predictive analytics are now table stakes for this market.” In fact, Trend Micro has been using it to great effect for over a decade and will continue to develop new solutions to help spot and block threats earlier.

To give you some idea of how powerful some AI solutions now are, reports this week claimed that the DeepMind system being trialled at Moorfields eye hospital and University College London is capable of correctly referring patients with more than 50 different eye diseases for further treatment with 94% accuracy. To put it in perspective, this either matches or beats the referral decisions of some of the world’s leading eye specialists.

This kind of excitement has been matched across many sectors, but it’s perhaps cybersecurity where AI offers both the greatest potential for positive change and the biggest fear that it may also be used for nefarious ends. That’s why we’ll be placing AI and machine learning front-and-centre of this year’s CLOUDSEC show in London next month. Some of the brightest and best minds from Trend Micro, academia, law enforcement and the vendor community will come together to share their thoughts and chart a way forward through the minefield.

Our VP of Security Research, Rik Ferguson, will kick off the event by climbing inside the mind of cybercriminal, along with senior representatives from the FBI, NCSC, PwC and Europol. Then we’ll try and match that by discussing the challenges and pressures facing a typical CISO today. There’ll be plenty more besides, and ample opportunity to network with peers and security experts.

Last year saw a packed-out show as attendees flocked to CLOUDSEC in record numbers. We’re expecting even bigger things for 2018!

What: CLOUDSEC 2018
When: Tuesday 4 September
Where: Park Plaza Westminster Bridge, London

 

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