A recent report for the ninth Annual Cost of Cybercrime Study, found the value of risk for an average Times 1000 company, with 2019 revenues of £15 billion, equals 2.8 per cent of revenues per year and, even at this level, weaknesses remain. The cost of being hacked can run into many hundreds of thousands of pounds, coupled with the loss of business, market share and reputational damage.
The situation is not helped by the lack of cyber security talent. It is well-known that while the creativity and critical thinking of human cyber security expertise is key to gaining an advantage over cyber attackers, finding the skills is hard. The New York Times reported that the industry expects 3.5m cyber positions to be unfilled by the end of 2021. Even with the supposed hundreds of thousands of security experts available via bug bounty platforms across the world, the reality is that the pool of top talent is quite narrow.
An answer to this crisis is augmented intelligence (AI) or augmenting human security talent with artificial intelligence. New data from Synack, a trusted crowd-sourced security testing platform, revealed that organisations are successfully ramping up their ability to scale their security in 2020, to prevent data breaches. Already, they are covering more ground, getting 20 times more effective in their ability to cover their digital attack surface than traditional testing methods, by using AI alongside their cyber talented staff.
The Synack report identified three key areas that are having a significant impact on threat detections:
– Coverage and Scale: While humans are around two times more impactful at finding breach-worthy security vulnerabilities, an augmented combination of the best security talent and AI-enabled technology results in twenty times more effectiveness in their ability to cover their digital attack surface.
– Efficiency: Humans can accelerate their time to evaluate the breach-worthiness of a vulnerability by at least 73% by using AI-enabled technology.
– Effective Remediation: Companies can find and close critical…