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December 14, 2023

Generative-AI Driven Cyberattacks Pose High Risks for Businesses in 2024: Predicts Trend Micro

In Brief

Trend Micro’s report predicts a surge in social engineering tactics and identity theft due to generative AI tools’ capabilities.

Generative-AI Driven Cyberattacks Pose High Risks for Businesses in 2024: Report

The year 2024 can witness the escalating influence of generative AI in terms of cyberthreats.
A report from Japanese cybersecurity company Trend Micro, predicts there will be a significant surge in sophisticated social engineering tactics and identity theft facilitated by the capabilities of generative AI tools.

Titled Critical Scalability: Trend Micro Security Predictions for 2024‘, it further outlines that despite the shutdown of the malicious large language model (LLM) WormGPT in August 2023, there will be a proliferation of its offspring on the dark web.

Amidst the absence of enacted legislation to regulate the application of generative AI, Trend Micro emphasizes the urgency for defenders to implement stringent zero-trust policies and adopt a proactive approach to thwart the growing threat.

“Advanced large language models (LLMs), proficient in any language, pose a significant threat as they eliminate the traditional indicators of phishing such as odd formatting or grammatical errors, making them exceedingly difficult to detect,” said Eric Skinner, VP of market strategy at Trend Micro.

“Businesses must transition beyond conventional phishing training and prioritize the adoption of modern security controls. These advanced defenses not only exceed human capabilities in detection but also ensure resilience against these tactics,” Skinner added.

Additionally, the report anticipates a spike in social engineering schemes, including business email compromise (BEC), spear phishing and harpoon whaling, as threat actors capitalize on the creative output of generative AI.

Moreover, the AI boom is not confined to the corporate sphere; it has infiltrated politics, with AI-generated images appearing in political ads in countries like New Zealand and the United States. As the spectre of AI-induced political misinformation looms ahead of elections, businesses are urged to recognize the potential impact of such technological advancements on cybersecurity.

Broad Security Implications and Recommendations

According to Trend Micro, businesses are projected to integrate generative AI into their fundamental strategies, spanning IT, advertising and cybersecurity.

Rather than developing in-house solutions, companies are expected to seek out vendors with integrated AI portfolios and the expertise to implement them effectively. This shift reflects the widespread acknowledgment of AI’s role in shaping the future of various industries.

A notable concern highlighted in the report is the misuse of voice cloning in near-future scams. This threat is expected to remain targeted, requiring adversaries to collect multiple audio sources from specific individuals for successful AI-driven voice impersonation.

As the cybersecurity landscape braces for this new wave of AI-driven threats, defenders are urged to implement zero-trust policies.

The report emphasizes a shift where any online interaction is treated with skepticism, highlighting the need for proactive measures to counter the evolving tactics of cybercriminals.

Moreover, the report states that cybersecurity sector is expected to outpace government efforts in developing AI-specific policies and regulations. The industry’s move towards self-regulation on an opt-in basis signals a proactive response to the challenges posed by the intersection of cyber threats and artificial intelligence.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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