As artificial intelligence (AI) progresses and more businesses choose to use the technology, its impact on cybersecurity becomes even more prevalent. October is Cyber Security Awareness Month in Canada and we’re looking into this emerging threat that businesses and organizations should be aware of.

A recent survey conducted by the Insurance Bureau of Canada highlighted a growing concern among small and medium-sized business owners: 65% are worried that the rise of AI and new technologies will complicate their ability to protect themselves against cyber threats. This is well-founded, as cyber attackers are now leveraging AI to create realistic and convincing content that can deceive even the most vigilant individuals and organizations.

New Cyber Attacks are More Personalized

Today’s cybercriminals are using generative AI to craft messages that appear to come from trusted sources, such as banks, government entities, or familiar contacts. These communications can include text, images, audio, and video, and they often lack the typical signs of a phishing scam. Gone are the obvious spelling errors and poor grammar that once made it easier to identify threats. The sophistication of AI-generated content poses a challenge, as it can manipulate unsuspecting employees into falling victim to these attacks.

Even though businesses have strengthened their employee cybersecurity training programs, this new wave of AI-driven threats adds a new layer of risk. Workers who have become more aware of traditional phishing tactics may find themselves unprepared for advanced, personalized approaches.

How Businesses Can Adapt

With the landscape of cyber risks constantly evolving, it’s essential for businesses to stay informed and proactive. To assist, Northbridge Insurance released a video that highlights the emerging threats posed by generative AI and offers insights into how businesses can adapt their cybersecurity strategies.

Through Cyber Security Awareness Month and beyond, it’s important to continue the conversation around cyber threats. As a general insurance brokerage, we’re not only able to find the right cyber insurance coverage for your business but also provide risk management solutions to help you protect against emerging threats.

Connect with a Staebler Insurance Broker to start the conversation today.

Credit to our insurance company partner, Northbridge Insurance, for this blog’s content.

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Staebler Insurance is a general insurance broker specializing in car insurance, home insurance, small business, and commercial insurance. Staebler brokers proudly serve Kitchener, Waterloo, Cambridge, Guelph, Stratford, Listowel, Fergus, Elora, Wellington County, Perth County, Waterloo Region and southern Ontario. Get a Quote to get started today.