RBI warns AI enabled cyber threats biggest risk over the next 12 months
According to the RBI's latest Financial Stability Report, AI-enabled cyber threats are set to be the biggest risk over the next 12 months.
Nearly everyone surveyed, 95%, flagged AI-enabled cyber threats as a major concern because they're faster and harder to spot, while a separate 23-28% considered phishing, ransomware, malware, application vulnerability, and APIs as the most significant risks.
Third-party and supply chain risks came in as the next big worry.
Many firms underprepared and outsourcing security
The report found that most companies are still figuring out how to defend themselves: 57% are just getting started with their security measures, and only 5% feel truly prepared.
Plus, a huge majority, 93%, outsource key security tasks like cloud protection and threat response, which means they're extra vulnerable if their vendors get hit too.