Unchartered Waters: The AI Phishing Wave Is Here
"AI is poised to make both traditional and spear phishing cheaper and more effective," write Archer's Kate Sherlock and Nicholas Franchetti.
November 27, 2024 at 11:35 AM
6 minute read
Human error remains one of the leading causes of data breaches, with some studies claiming that it accounts for 88%-95% of all breaches. There are various types of human errors that can lead to data breaches, including but not limited to, using weak passwords, ignoring software updates, unintentionally sharing data, and falling for phishing scams. Since 2019, phishing scams have increased by over 150% per year. With the recent rise in artificial intelligence (AI) technology, the amount and success of phishing scams are expected to increase even more.
“Phishing” refers to the practice of sending fraudulent emails or other messages purporting to be from reputable individuals or companies to induce individuals to reveal personal information, to trick the user into clicking on a link to a malicious website or program, or to otherwise take advantage of the user. Traditional phishing scams involve sending one or more generic emails to as many individuals as possible, with the goal that some of them will fall victim to the fraud. Conversely, spear phishing involves selecting specific targets and crafting customized emails based on the target’s position in order to maximize the phishing scheme’s likelihood of success and potential return.
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