Cybersecurity a key driver for AI market growth: Report

Representative image

The cybersecurity industry has recorded a growing number of fraud and malicious attacks, ranging from stealing personal data to important organizational information, in the past few years. Companies are looking to apply Al technologies to combat these threats more effectively.

Al technology helps in threat detection, pattern recognition, and response time reduction. It also helps in combating threats such as distributed denial-of-service (DDoS) attacks. Organisations are looking to generate and collect data about user behaviour and key trends to generate insights that will help in enhancing their product offerings, which, in turn, will help them with business growth.

However, this also presents the risk that cybercriminals can bypass security mechanisms and access important organizational information. Analysts have predicted that the artificial intelligence (AI) market will register a CAGR of over 33% by 2023.

The lack of experts is slowing down the development of strong Al technology. The expertise currently is toward the development of narrow Al. This will result in the lower adoption of Al in some of the major sectors such as the government.