Cyber attacks are a critical risk to global growth, given their capacity to inflict considerable economic damages across all industries with many factors contributing to the rise of cyber crimes.
Data privacy is consequently a universal issue and requires new regulations as well as increasing spending on security products.
Artificial intelligence through autonomous, self-learning software products is one of the leading ways to fend off the rising number of cyber attacks. Autonomous systems can offset growing Malware problems, which is increasingly becoming difficult for humans to manage, and are ideal for detecting anomalies and taking immediate actions.
Global spending on cyber security products and services could exceed $1 trillion cumulatively over the next five years.
Cyber security and AI technologies have increasingly expanded over the last decade and will grow substantially in the coming years.