A new report from Artic Wolf reveals that AI is occupying the forefront of security leader's concerns. AI, LLMs, and privacy issues are the top concern for 29% of security leaders, surpassing concerns of ransomware, malware, and data extortion, which had been the top concern previously. 

Yet, AI is also the greatest driver of cyber investments, with 99% of organizations having already created or currently creating generative AI usage policies. 

“As organizations race to implement AI-powered tools, it is critical they also do not lose sight of core security fundamentals like patching vulnerabilities, implementing detection and response, and maintaining a current incident response plan,” says Dan Schiappa, President, Technology and Services at Arctic Wolf.

The report found that 70% of organizations faced a minimum of one significant cyberattack in the previous year. Malware and business email compromise (BEC) attacks were the most common of these. Additionally, 52% confirmed a breach in the past year, an increase from previous reports of 48%. Known breaches disclosed were at 97%, suggesting an improvement in compliance and transparency.

Although the report found ransomware, malware, and data extortion were lesser concerns than AI at 21%, ransomware remains a notable issue for many security leaders. 76% of those faced with ransomware paid ransoms, and 90% of those who paid worked with a professional negotiator. This collaboration led to reduced ransom payments in more than 50% of the incidents.