Enterprises are increasingly turning to artificial intelligence (AI) as a key tool in defending against a surge in cyber frauds, including phishing attacks, according to Dharshan Shanthamurthy, Founder and Chief Executive of SISA, a Bengaluru-based information security provider. Speaking to ET, Shanthamurthy emphasized that “today, artificial intelligence can identify a needle in the haystack,” suggesting that companies employing AI effectively can substantially enhance their cybersecurity measures.
SISA focuses on forensic-driven cybersecurity, specializing in payment security, and operates across 12 countries with over 600 employees. The company’s insights come amid a rapidly evolving cybersecurity landscape, characterized by the increasing sophistication of cyber threats and the introduction of new technologies, such as quantum computing.
Shanthamurthy warned that cyber fraud will continue to grow, stating, “the trends suggest an increase in AI and quantum hardware security flaws.” These vulnerabilities are becoming a significant concern as cybercriminals leverage AI to develop highly customized phishing attacks and deepfakes, complicating detection efforts for organizations.
The current climate is marked by a structural shift in cybersecurity where AI not only helps in defense but also empowers attackers. Experts note the deployment of agentic AI bots that scan networks for vulnerabilities, which can exploit existing defense mechanisms. As these threats escalate, the payment ecosystem is anticipated to experience robust growth, projected to surpass $2.4 trillion in revenue by 2029, while the cybersecurity market is expected to reach a value of approximately $351.9 billion by 2030.
In response to these challenges, SISA is evolving into a multi-solution cybersecurity multinational. Shanthamurthy indicated that the company is open to acquiring innovative startups to enhance its service offerings further. This strategic move highlights an awareness of the rapid changes in the cybersecurity landscape and an intent to remain at the forefront of the sector.
The proliferation of insecure Internet of Things (IoT) devices adds another layer of complexity to cybersecurity efforts. With these devices becoming increasingly common in both personal and enterprise settings, the potential for vulnerabilities has grown exponentially. As a result, organizations are urged to adopt a proactive approach, leveraging AI and other technologies to bolster their defenses against emerging threats.
As the battle between cybersecurity measures and cybercriminal tactics intensifies, the importance of continuous innovation and adaptation within the cybersecurity sector cannot be overstated. Companies are faced with the dual challenge of enhancing their security protocols while simultaneously navigating the complexities introduced by new technologies and evolving threat landscapes.
Looking ahead, the increasing reliance on AI in both offensive and defensive strategies suggests that organizations must remain vigilant and agile. By investing in cutting-edge technologies and fostering a culture of security awareness, enterprises can better position themselves against the relentless tide of cyber threats.
See also
FAI Seeks Research Fellow in Cybersecurity & AI Policy with $130K Salary and Benefits
AI Agents Revolutionize Cybersecurity: Dual-Use Risks and Innovations Discussed on Bloomberg Podcast
Bitdefender Reveals APT36’s AI-Driven “Vibeware” Strategy Flooding South Asia with Malware
Bold Secures $40M Funding to Revolutionize AI-Powered Endpoint Protection
Financial Advisers Embrace AI Tools: 60% Adopt ChatGPT and Copilot Amid Security Concerns
