November 2023

AI Cyber Threats and Ethical Hacking
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Executive summary

Generative artificial intelligence (AI) has been embraced by cybercriminals, who have the luxury of operating outside of the checks and balances of the real world. From more convincing phishing attacks to new methods of social engineering, they're using AI to increase the sophistication of their attacks and better target their activities.

But cybersecurity is fast catching up. Fifty-one percent of organizations have expanded the use of AI in their cybersecurity strategy over the last two years, as they tackle emerging challenges.

Insights

Cybercriminals are increasingly using AI to improve the sophistication of attacks.

  • Seventy-five percent of security professionals have seen an uptick in attacks over the past year, with 85% attributing the rise to bad actors using generative AI.
  • The hackers may be one step ahead in how they are leveraging AI, but cybersecurity is catching up.
  • Ethical hackers see an important role for AI. Some say generative AI tools are already outperforming them, and 78% think it will disrupt how they carry out their activities over the next five years.
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Disclaimer

CONDITIONS AND LIMITATIONS Gallagher's global operations, including a network of correspondent brokers and consultants, offers client-service capabilities in more than 130 countries around the world. This report and supporting information is not intended to provide legal or financial advice and reflects our understanding as of November 2023. It should not be regarded as a comprehensive statement of the law and/or market practice in the regions covered. You should not act upon information in this publication nor determine not to act, without first seeking specific legal and/or specialist insurance and risk management expertise. Should you require advice about your specific insurance arrangements or claim circumstances, please contact your Gallagher account representative.

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