Nov. 9, 2023 Repost from Jericho Security -- Jericho Security CEO Sage Wohns was interviewed by NBC's Scott McGrew regarding the exponential rise of Generative AI spear phishing attacks and what corporations can do to protect themselves. Spear phishing is a type of phishing campaign that targets a specific person or group and often will include information known to be of interest to the target, such as current events or financial documents including personal information obtained from the dark web.
It is estimated that phishing attacks are responsible for more than 80% of reported security incidents and about 90% of data breaches. The global cost of cyber crime is predicted to rise from $8.4T to $23.75T in the next 5 years. GenAI is rapidly increasing Spear phishing attacks using personalized messages to trick specific individuals or organizations into revealing sensitive information or downloading malware. Unlike generic phishing emails, spear phishing emails are tailored to the target's interests and employ personal information to make the message more credible. Therefore, spear phishing could cause much greater damages.
Jericho Security is a cybersecurity platform which helps train the employees of Corporate America to combat the rising tide of generative AI-powered spear phishing attacks. Since the launch of GenAI, we have seen spear phishing attacks increase by 800%. Given the massive amount and speed of increase of cyber attacks, the only effective defensive mechanism will need to be one powered by AI as well.
Jericho Security uses AI to fight AI, acting as a white hat for corporations. It creates an AI red team to attack and an AI blue team to defend that can learn from each other and improve their performances. The AI red team generates realistic and personalized phishing attacks that can test the security posture of clients and employees. The AI blue team detects and prevents these attacks using advanced language processing, custom privately hosted language models and brokered data. “By pitting these two teams against each other, we can create a feedback loop that can help us adapt to the changing landscape of AI and stay ahead of the curve,” Sage Wohns said.
“Too often companies only take proper cybersecurity action when it’s too late, following reputational harm and potential litigation. We believe in proactive cybersecurity, empowering organizations to prevent attacks rather than reacting to breaches. Jericho equips companies and their employees with the tools and skills to identify and halt generative AI attacks effectively.” said Jericho Security Co-Founder and CEO Sage Wohns.
Personalized to individual users, Jericho provides corporations with team-wide cybersecurity training metrics and individualized feedback. The company hopes to pioneer a new sector in cybersecurity focused on defending customers from AI-driven attack vectors. It takes on the challenge to protect all corporations from the unrelenting assault of GenAI cyber attacks.
With unparalleled expertise in sophisticated analytics and top-of-the-line educational frameworks, Jericho Security team is committed to defending corporate America from the unimaginable scale and volume of attacks made possible by GenAI.
To get corporate America C-suites and boardrooms ready first against the GenAI attacks, Jericho Security is hosting a series of Invite-only CISO gatherings with fireside chats in Washington DC, New York City and San Francisco throughout this November and January 2024. It is a fantastic opportunity to connect with other CISOs and have discussions over the risks and opportunities within the cybersecurity and AI landscape.
Learn more at Jericho Security.