#002 Cyber AI Chronicle - A busy start of 2024

Author

Simon Ganiere
January 14, 2024 • Estimated Reading Time: 4 minutes

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Cyber AI Chronicle

By Simon Ganiere · 14th January 2024

Welcome back! This week newsletter is a 5 minutes read.

A busy start of 2024

2024 kicks off with a bang in the tech world! AI continues to dominate headlines, with CES 2024 sparking debates on an AI bubble. Is it real or just hype?

In cybersecurity, it's action-packed with fresh vulnerability disclosures. Urgent patches for Ivanti CVEs, critical GitLab flaws, and a dangerous Juniper SRX Firewall loophole have surfaced. The message is clear: in our AI-focused world, cybersecurity basics remain crucial.

Why It Matters?

While AI's role in these discoveries is unclear, it underscores a vital truth: even as AI reshapes cybersecurity, we can't overlook the fundamentals. Hats off to the patching and incident response teams!.

The lesson of this week is this: if you can’t patch it in 24h, it should not be internet facing!

In the news

Cybercriminals Implemented Artificial Intelligence (AI) for Invoice Fraud

In a concerning trend, cybercriminals are now leveraging AI to craft convincing fraudulent invoices, intensifying the threat of wire fraud and BEC. This chilling advancement in cybercrime shows AI's double-edged sword.

securityaffairs.com/156863/cyber-crime/artificial-intelligence-tool-for-invoice-fraud.html

Business Email Compromise (BEC) attacks led to losses over 2.7$ billions as per the 2022 IC3 report from the FBI. This type of attack heavily relies on the ability of the threat actor to have an accurate language (English or other), good context, similar writing style, etc…all of which AI is really good at! I can see this type of attack as the first attack vector to really leverage AI.

AI set to drive VCs to cybersecurity investments

Indian cybersecurity startups in the last two years amassed fund inflows of about $130.7 million, nearly a 63% jump from two years prior

www.livemint.com/technology/ai-set-to-drive-vcs-to-cybersecurity-investments-11704707087487.html

It's not all doom and gloom! The fusion of AI and cybersecurity is attracting massive investments, promising groundbreaking developments in our defense against these sophisticated cyber threats.

China and cybercriminals are targeting American AI companies, FBI Director Wray says

U.S. companies are currently leading the AI race, and cybercriminals and nation-states are targeting those firms for their IP and other innovations.

www.nbcphiladelphia.com/news/business/money-report/china-and-cybercriminals-are-targeting-american-ai-companies-fbi-director-wray-says/3741393

In the global AI race, U.S. companies are in the lead, and unsurprisingly, they've become prime targets for cybercriminals and international adversaries. The battle for AI supremacy is on!

Closing Thoughts

As we close this edition of "Cyber AI Chronicles," it's evident that 2024 is shaping up to be a landmark year at the intersection of AI and cybersecurity. The surge in AI-driven tools, both for defense and deception, underscores a pivotal moment in our digital era. While AI's capabilities in enhancing cybercrime like invoice fraud are alarming, its role in fortifying cybersecurity investments and strategies is equally promising. The global race for AI supremacy, notably marked by threats to AI innovations, highlights the critical need for robust, AI-integrated cybersecurity measures. As we navigate this complex landscape, our focus should not just be on adopting new technologies but also on reinforcing the foundational cybersecurity practices. This balance will be crucial in staying ahead of the curve. In the ever-evolving realm of AI and cybersecurity, staying informed and adaptive is not just a strategy—it's a necessity for survival and success. Stay vigilant, stay informed, and let's embrace the challenges and opportunities that 2024 brings!

Thanks for reading!