Kathleen Hamm is the Founder of Pearl Advisory Group. In her speech, Hamm outlines the dangers of the rise of Artificial Intelligence (AI), such as the fact that AI can make up information. Given the rise of AI, many companies have deployed AI and Machine Learning (ML) to protect against cyber attacks. On the other hand, due to the rise of these tools, “barriers to entry have been lowered for novice cyber criminals, hackers-for-hire, and hacktivists to engage in ever more sophisticated attacks.” Hamm further explains three main areas of cybersecurity: Ransomware, Business Email Compromises, and Stolen Credentials. For Ransomware, Hamm notes the change in the Securities and Exchange Commission (SEC) policy requiring companies to disclose incidents within four business days. According to IBM, Business Email Compromises account for only 10 percent of breaches but are the second most expensive. Stolen Credentials now face the emerging threat of deepfakes. Companies that have deployed AI to enhance security measures have seen dramatic results, a cost savings of 2.2 million in breach costs. Hamm argues for more international cooperation to protect the most vulnerable from these cybersecurity threats and to address the interconnectedness of AI and cybersecurity threats.
