Cisco Says Most Cyber Attacks Cost More Than $500,000

Companies are increasingly relying on artificial intelligence and automated security systems, as the majority of cybersecurity attacks result in more than $500,000 in damages, Cisco reported Wednesday. Cisco surveyed 3,600 chief information security officers, and found more than half reported cybersecurity attacks that cost organizations more than $500,000 in damages. Thirty-nine percent of respondents rely on automation, 34 percent on machine learning, and 32 percent are “highly reliant” on AI. The extent of system breaches expanded, with respondents claiming 32 percent of breaches affected more than half their systems. That compares with 15 percent reported for 2016.