In June 2017, the NotPetya cyberweapon was deployed for the first time. Before it could be countered, it caused over $10B in damage and nearly took down several multinational companies, including Maersk, Merck, and FedEx. That same year, the FBI reported BEC (Business E-mail Compromise) attacks cost U.S. companies $1.3B. By 2021, the cost of cybercrime is expected to exceed $6 trillion annually – equivalent to the GDP of Japan, and accounting for 15% of Global GDP.
No one is immune from cybercrime and the problem is getting worse every minute of every day. There were 181.5 million ransomware attacks in the first six months of 2018; a 229% increase over the same time frame in 2017. By Q1 2019 the number of attacks rose to a reported 504 new threats per minute.
The 5Vs of contemporary Cyber Attacks – Volume, Velocity, Variety, Virality, Viciousness – have collectively contributed to a threat environment that has far transcended the abilities of “mere mortals” to respond.
The only way to combat cybercrime in a world in which it has become an existential and ever-present threat in every industry and sector is to fight back with solutions – like those from ProtectedBy.AI – that leverage Artificial Intelligence, Machine Learning, Deep Learning, Natural Language Processing, and AI-Enabled Robotic Process Automation.