By Manoj Kumar A S, Head, Specialty Solutions, India, Aon
In recent years, cyber threats have emerged as one of the most significant risks for organisations worldwide. No longer limited to system intrusions, these threats now endanger confidential data, intellectual property, and business resilience.
The rise of artificial intelligence (AI) presents both opportunities and challenges in cybersecurity. AI strengthens security through advanced threat detection and automated response mechanisms, yet it also enables sophisticated cyber threats, such as deepfakes and highly targeted phishing attacks. This dual nature underscores the need for a strategic and proactive approach.
India is projected to experience one trillion cyber-attacks annually by 2033. Speaking at the Paris AI Summit, Prime Minister Modi highlighted the nation’s robust Digital Public Infrastructure and called for a globally applicable AI framework, reflecting a growing consensus on the need to balance innovation with security safeguards.
Cyber risk mitigation is a delicate balance between adopting innovative technology and implementing strong security controls. As cyber risks are an accepted reality for businesses of all sizes, organisations must take a structured approach to managing their exposure. This includes assessing vulnerabilities, quantifying financial impacts, and investing in cyber insurance as a safeguard for their balance sheets. Professional guidance is crucial in structuring effective cyber insurance policies that provide comprehensive protection and efficient claims servicing.
With human error expected to account for over half of cyber incidents by 2025, investing in employee training and awareness programmes is also essential. Additionally, governments, businesses, and cybersecurity experts must collaborate to ensure that technological advancements do not come at the cost of security.
