AI and automation reduce breach costs – Week in security with Tony Anscombe

Organizations that leveraged the power of artificial intelligence (AI) and automation in security prevention cut the cost of a data breach by as much as US$2.22 million compared to those that didn't deploy these technologies, according to IBM’s Cost of a Data Breach Report 2024 published this week.

The study – which gathered the experiences of more than 3,500 cybersecurity and business leaders from 600 organizations hit by a breach – also listed a number of factors that that influenced the average cost of a breach. Speaking of which, this cost rose to US$4.88 million in 2024, which was up 10 percent from the year prior. The healthcare sector was hit the hardest, according to the study packed with a lot of interesting data.

What drove this increase and what other insights does the report offer? What are the recommendations to help cut the cost of a breach? And how does cyber-insurance come into play? Find out in the video.