FEATURE : CYBERSECURITY
Can AI & Machine Learning Offer a Step-change in Ransomware Defence ?
Brett Chase , Director of Systems Engineering , Cohesity APJ , on AI powered defences against the backdrop of innovative scam methods in Singapore .
The cyber threat landscape continues to worsen , with authorities in Singapore revealing that a successful ransomware attack is now reported almost every three days or less in Singapore , creating a major challenge to organisations ’ business continuity given their reliance on technology .
As cyberattacks are now firmly a matter of ‘ when ’ not ‘ if ’, organisations need to prioritise their ability to rapidly respond and recover , so they can mitigate the costly impacts of cyber incidents , and IT failures or outages .
Research by IBM Security and the Ponemon Institute has found the average cost of a data breach in ASEAN in 2023 has risen 6 % year-onyear to over US $ 3.05 million – while research from analyst firm Gartner has found the average cost of a ransomware attack globally is 10 to 15 times the ransom demand .
Cohesity ’ s recent survey found that today ’ s pervasive cyberattacks are forcing the majority of companies to break their ‘ do not pay ’ policies and pay ransoms . The survey found that the cyber threat landscape is expected to get even worse this year , with 96 % of respondents saying the threat of cyberattacks to their industry will increase this year and over 7 in 10 ( 71 %) predicting it will increase by more than 50 %. These findings underscore the importance of organisations achieving cyber resilience – the ability for them to continue their usual business operations despite suffering an adverse cyber event – instead of only traditional cybersecurity measures .
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