AI to grow at an ‘exorbitant pace’ in cyber security
Artificial intelligence (AI) in the global cyber security market is projected to grow at a CAGR of 36% during 2017-2023, reaching $18.1 billion by 2023. The research, conducted by P&S Market Research, suggests that the rising number of cyber frauds and malicious attacks is the major factor driving AI demand in the cyber security market. The growing workplace acceptance of Bring Your Own Device (BYOD) is also fuelling demand for AI as there have been reported incidents of data leakages, unauthorised access, downloading unsafe applications and content on employee personal devices that have left the organisation’s data vulnerable to external threats. The development of ‘super intelligent’ AI in cyber security market is expected to create growth opportunities. Super intelligent refers to the intellect of a system that outperforms the best human minds in cyber security. The emergence of super intelligent AI will act in a way that promotes interest of humans to contain the phishing and malicious attacks that cost millions to organisations. However, super intelligent artificial intelligence is at a very nascent stage and will take years to provide benefits for enterprises in combating cyber-attacks with ease and high accuracy.