Artificial Intelligence: Do Investments into the Latest Crusaders against Cybercrime Pay off - Credit Suisse

Cybercrime is on the rise, and the rapid digitization will drastically drive up cost of data breaches. Firms are looking for new software and systems to protect them. The "cyber crusader" companies that are creating these solutions are some of the brightest new stars in the AI firmament The fight against cyber criminals is never ending – and it is becoming big business. Cybercrime is already estimated to cost businesses up to USD 400 bn every year,1 while recent research predicts that the rapid digitization of every aspect of consumers' lives will drive up the cost of data breaches to USD 2.1 tn globally by 2019, more than four times the amount in 2015. Artificial intelligence (AI) and other technologies are increasingly being used to combat this threat, as passwords and other memorable information are being phased out due to fears that they are vulnerable to fraudsters.