AI reduces data breach lifecycles and costs

The use of artificial intelligence (AI) and automated cybersecurity tools can significantly reduce the financial impact of a data breach, according to a 2023 IBM report. Organizations using these tools extensively faced an average cost of a data breach of $3.60 million, much less than the $5.36 million cost for those not using such tools at all. The survey also found the benefits of paying a ransom after a cyber attack has reduced, suggesting businesses should turn to AI and automation for cost-efficient security.