Security chiefs warn of AI-enabled ransomware threat at cyber summit

Key figures from the cyber security industry have issued a stark warning about the threat posed by AI-enabled ransomware attacks.

Over 50 security leaders and senior executives gathered at a specialist security workshop yesterday, organised by Absolute Security at European conference Infosecurity Europe.

The event saw security leaders debate the risks posed by generative AI, growing volumes of ransomware and cyber attacks and the risks posed to businesses.

Nicko van Someren, CTO, Absolute Security said: “Today’s cyber security defenders face attacks that are moving faster, hitting wider and going deeper than ever before, driven by sophisticated attackers using ever more powerful tools. 

With the odds so heavily stacked, it is critical to consider how to tool up for cyber resilience and response, as well as for detection and protection. Planning for recovery from successful attacks is not defeatism, its pragmatism.”

Sarah Rench, GenAI Security Lead & European Cyber Security lead at Avanade said: “With the rise of generative AI you need to be extending your current security governance, applications and operations.”

However, it’s equally important with the increase in the volume of security threats to explore how to use generative AI to help assist with cyber defence e.g. Threat hunting, incident analysis and reporting with tools like Microsoft’s Co-pilot for Security or specific generative AI security use cases that are now help solve some of the new cyber challenges we face today.”

Bharat Thakrar, CISO of Cyber BTX added, “While paying ransom may be a quick fix to minimise downtime, these decisions must be made cautiously as they ultimately fuel the ransomware ecosystem and do little for long-term cyber resilience. 

A better longer term strategy is to focus on building robust cyber defences and coordinated efforts with law enforcement for payment/supply chain disruption to weaken ransomware groups and build more resilient security”.

Absolute Security is partnered with more than 28 of the world’s leading endpoint device manufacturers, embedded in the firmware of 600 million devices, trusted by 21,000 global enterprises, and licensed across 14 million PC users.

With the Absolute Security Cyber Resilience Platform integrated into their digital enterprise, customers ensure their mobile and hybrid workforces connect securely and seamlessly from anywhere in the world and that business operations recover quickly following cyber disruptions and attacks.