AI will create huge new cybersecurity risks, hijacked by criminals and rogue states

Patrick Dixon is a global keynote speaker on cybersecurity and AI - author of 19 books - here in conversation with Futurist Gerd Leonhard 

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THE GREATEST THREAT to our world from AI will be its use by criminal gangs and hostile states. Over the next decade, such attacks will strike hundreds of thousands of companies, destroy wealth, paralyse governments, weaken armed forces, invade privacy on a global scale, knock out hospitals and kill thousands of sick patients. All at very low cost. Most larger-scale attacks make huge amounts of money, from ransoms or rewards from hostile governments.

In my book The Future of (Almost) Everything I warned that combining Big Data with the Internet of Things and the Cloud would create mega-targets for criminals and hostile countries. But next-generation AI will increase these risks a thousand times more. The ultimate target for hostile states will be advanced AI systems of another country.

AI is the greatest opportunity in history to steal money and disrupt countries.

If cybercrime were a country, it would be the world’s third-largest economy, with 560,000 new types of ‘malware’ released every single day. Most companies have been attacked, while six out of ten are struggling to find people with the right skills to protect themselves.

AI will be used to steal billions of dollars a year

Theft is taking place on a global scale using digital tools, with close to at least $200bn gained by criminals a year, $50bn of which is e-commerce fraud, 42% in North America, 26% in Western Europe. Some estimate that true criminal cyber-gains are closer to $1tn a year. An accurate figure is difficult to come by because most smaller-scale online frauds go unreported, and most companies are too embarrassed to admit being hacked or held to ransom.

In the US, 34% of adults have been victims of fraud, mostly online. In 2023, 9% had their identities stolen, which often results in devastating financial consequences, and is time-consuming to sort out. In Latin America and the Caribbean, 20% of all e-commerce revenue is lost to fraud.

In the UK alone £750m is stolen each year via payment cards, fraudulent cheques and online payments, and nine out of ten people have come across online content they suspect is a scam or fraud. But fraud is practically a sure win for criminals since 99.6% of the time there is no arrest.

More than 500 million ransomware attacks a year

Our world is already being hit by over 500 million different ransomware attacks a year, 20% of cybercrime. Around half are directed at US-based organisations. Although 90% of organisations refuse to pay, that means 50 million do so each year. Average ransom is $500,000, with no guarantee that data will be restored.

Dealing with all the damage and restoring things to normal costs each company more than $2.2m on average, the equivalent of 35,000 hours of time. And that is without the cost to reputation and consumer trust.

Following an attack, 66% of companies report significant loss of revenue, with 29% laying off staff as a result. One in three UK companies hit by a ransomware attack close down altogether.

Daily Telegraph review (14 September UK): 

"If you need to acquire instant AI mastery in time for your next board meeting, Dixon’s your man. 

Dixon gives us plenty to think about: AI’s role in surveillance; AI’s role in intellectual freedom and copyright; AI’s role in warfare; AI’s role in human obsolescence – his exhaustive list runs to over two dozen chapters.

Business types will enjoy Dixon's meticulous lists and his willingness to argue both sides against the middle."

Read on - buy my new book NOW.  "How AI Will Change Your Life."

Looking for a keynote speaker on AI cybersecurity risks? Phone +44 7768 511390

* Dr Patrick Dixon is one of the world's best known keynote speakers on global trends, often described as Europe’s leading Futurist. Author of 19 books, he has advised over 400 of the world’s largest corporations, often sharing platforms with their CEOs at their most important global events. His clients include Google, Microsoft, IBM, Intel, LinkedIn and many of the world’s largest manufacturers as well as governments. Patrick is a cancer physician by first training and his first start-up company some decades years ago was an AI-simulator, using computers to talk to and diagnose patients. His website globalchange.com has had 15 million unique visitors with 9 million video views.

How AI will change your life - Contents of Book

Chapter Headings:

Part One: How AI Is Evolving

1 The Truth About Artificial Intelligence 

2 Super-Smart AI and a Reality Check 

Part Two: How AI Will Shape Our Future World

3 Workplace AI

4 Office Workers - impact of AI

5 Healthcare - how AI will drive better health

6 Pharma, Disease Prevention and Wellness - how AI will transform pharma

7 Education – in School and at College - AI challenges to education

8 Adult Education and ‘Truth’ - why AI will redefine "Truth"

9 Software Development - AI will help but less than many think

10 Film-making and Music - get ready for AI revolution

11 Search Engines, Social Media, Publishing and Art - massive AI impact

12 Marketing - most campaigns will be driven entirely by AI

13 Retail - AI will have huge impact on retail eg fashion

14 Travel and Leisure - multiple impacts of AI on airlines, auto industry etc

15 Relationships - relationships with AI bots, and impact of AI on human to human relationships

16 Food Industry - AI will drive greater efficiency

17 Satellites and Space Colonies - impossible without AI

18 Manufacturing, Logistics and Supply Chains - major benefits from AI

19 Construction and Cities - AI will transform construction and the built environment

20 Environment - AI will consume huge amounts of power but also enable sustainability initiatives

21 Pensions and Wealth Management - AI already controls most investment decisions

22 Corporate and Retail Banking, and Insurance - AI poses major threats but will deliver cost savings

23 Cybersecurity - greatest risk from AI right now

24 Surveillance - AI is every dictator's dream tech

25 Military and War - get ready for AI driven wars

26 Government - AI will enhance government and threaten democracy 

Part Three: How Should We Respond?

27 Ten Steps for Governments 

28 Twelve Steps for Individuals 

29 Ten Steps for Companies 

30 Postscript – A Story 

Read on - buy my new book NOW AI Will Change Your Life".