Organizations face devastating financial consequences from cyberattacks

A new report from Barracuda Networks and the Ponemon Institute looks at 'cybernomics' -- the financial forces that are driving cyberattacks. Based on a survey of over 1,900 IT security practitioners it finds the average annual cost to respond to compromises is a startling $5.34 million. The report also rings alarm bells about hackers exploring how they can use generative AI technology to increase the volume, sophistication, and effectiveness of their attacks. 50 percent of respondents believe AI will enable hackers to launch more attacks. The survey also identified that 71 percent of respondents had experienced a ransomware attack over… [Continue Reading]