It likely doesn’t come as a surprise when I point out that cyber threats keep growing at a very rapid pace these days. The market data speaks for itself, after all: in Q3 2024, cyberattacks worldwide surged by 75% YOY worldwide. The finance and banking sector, in particular, has seen the number of weekly attacks grow by almost 1700 compared to Q3 2023 — and that’s without touching on other industries.
The clear increase in global cyber threats means that there’s an urgent need for stronger defenses. But what is driving this surge, and how do we fight it?
The Reasons Behind the Surge in Cyberattacks
The rise in cyber threats can be attributed to several factors. One of the more notable ones is the evolution of ransomware tactics. Cybercriminals have shifted from traditional encryption-based attacks to more sophisticated methods of data exfiltration and extortion, increasing both efficiency and profitability. According to the Check Point report I highlighted earlier, ransomware attacks accounted for 57% of all reported incidents in North America in 2024, followed by Europe (24%) and APAC (13%).
Additionally, the exploitation of edge devices such as routers and VPNs has played a crucial role in these attacks. In 2024, over 200,000 devices were compromised and controlled by botnets like Raptor Train. Such botnets can launch large-scale DDoS attacks, disrupt infrastructure, and provide cybercriminals with persistent access to networks.
But what I find particularly concerning is that the report reveals that 96% of exploits in 2024 were based on vulnerabilities that had already been disclosed before. This, to me, indicates a grave gap in proactive safety measures, since companies had clearly been lax when it comes to software updates and patching up security holes.
AI: A Double-Edged Sword in Cybersecurity
All of the things stated above bring me to the core point of this text — the role of artificial intelligence in this surge of cyber threats. According to Check Point, GenAI has been actively used in 2024 to accelerate cyber-attacks, from disinformation campaigns and deepfake videos to financial theft and more.
The risk of AI being weaponized by hackers and fraudsters of all kinds is something that the industry has considered before. Intelligence agencies like Britain’s GCHQ have previously warned that AI’s adoption will inevitably lead to a rise in sophisticated cyber threats. And now we’re seeing these predictions coming true.
These days, AI-powered tools are sophisticated enough to generate highly realistic fake identities, impersonate people in phishing attempts. And beyond that, their ability to automate cyberattacks brings this threat to a whole new level.
But while AI is being leveraged by malicious parties, it is also one of the best defenses we can leverage against cybercrime. Fighting AI with AI is going to be the cornerstone of cybersecurity going forward. Flesh and blood humans simply can’t match the speed and intensity of artificial intelligence that neither rests nor loses its attention span.
To this effect, we are already seeing a new generation of AI-driven solutions emerging to transform how businesses approach security measures. Tech companies are actively developing specialized AI Agents to tackle different aspects of cybersecurity, autonomously performing tasks that traditionally required entire teams of human analysts and programmers.
They can investigate and respond to security alerts in real-time, resulting in improved response times to hacker threats. It is also possible for them to scan for cyber threats based on known attack patterns and predict potential vulnerabilities, helping organizations stay ahead of possible breaches.
And these AI agents can perform all these tasks with greater speed and accuracy, compared to humans, picking up on things that could otherwise be missed and minimizing the risk of errors.
The Future of Cybersecurity: AI as an Ally
To reiterate, the reality of today’s cyber threats is that they’re growing too complicated to combat with traditional security measures. In this sense, AI is both the challenge and the solution. But its potential as a force for good is undeniable.
As cybercriminals continue to innovate their methods, security teams will need to embrace AI-driven solutions if they wish to keep up with the rising threat level. Organizations that integrate AI into their cybersecurity strategies will be in a much better position to detect and respond to cyber threats before they can escalate.
The digital battlefield is changing, and AI is becoming the necessary weapon to have a fighting chance.
