Cyber Attacks can become more lethal if technologies such as Artificial Intelligence and machine learning are used to launch such attacks, say Symantec. The security firm also predicts that more potent attacks of such grade will be observed in Western Countries in the coming year.
All these days, Artificial Intelligence was used to protect and detect cyber threats on companies operating in different industries. But now a reversal of sorts will be observed in coming months.
“As exploring victim networks is the most labor-intensive part of a compromise after an invasion, cyber crooks will be able to use Artificial Intelligence to evade this hurdle with simplicity,” said Tarun Kaura, Director of Product Management, Symantec.
Mr. Tarun added that hackers will be poised to step up their attacks on billions of IoT devices operating in both offices and homes from next year. And with Crypto Currency payments on the rise, these kinds of dark web activities will remain undetectable for law enforcement.
Symantec estimates that the next target of cybercriminals will be bitcoin exchanges and bitcoin mining sites as they can prove as easy targets and can provide high returns.
And all this activity is said to surge up the market for Security-as-a-service- a part of SaaS industry.
Research firm MarketsandMarkets has already given a forecast that by the year 2020, the Security-as-a-Service market will grow from USD 3.12 Billion (2015) to USD 8.52 billion, at a Compound Annual Growth Rate of 22.2%. As data breaches increase, it will drive companies to spend more on security.
And according to Gartner, Symantec is said to lead the pack of security vendors by revenue, even though the company suffered a revenue decline for the second consecutive year, down 1.3% to $3.7 billion.