Artificial intelligence, for better or worse, is playing an increasingly important role in cybersecurity. Organizations can use modern AI-based tools to detect threats better and protect their systems and data assets. However, cybercriminals can also use this technology to launch more sophisticated attacks.
Rising cyberattacks are contributing to the growth of the AI-based security products market. According to his July 2022 Acumen Research and Consulting report, the global market will be worth US$14.9 billion in 2021 and is projected to reach US$133.8 billion by 2030.
Attacks such as distributed denial of service (DDoS) and data breaches are on the rise, many of which are very costly to affected organizations, creating a need for more sophisticated solutions.
According to the report, another driver of market growth is the Covid-19 pandemic and the shift to remote work. This has forced many organizations to focus more on cybersecurity and the use of AI-powered tools to more effectively detect and stop attacks.
Looking ahead, trends such as the increasing adoption of the Internet of Things (IoT) and the growing number of connected devices are likely to boost the market growth, according to Acumen’s report. The increasing use of cloud-based security services may also provide opportunities for new applications of AI for cybersecurity.
