MICK BACCIO , GLOBAL SECURITY STRATEGIST , SPLUNK

I will make or break Black Friday .

Given the prolific nature of cyberattacks this year , retailers would be forgiven for feeling like sitting ducks . In this environment , AI is both a positive and a negative force for retailers . On the one hand , as well as providing a better shopping experience through enhanced recommendations and AI-enabled customer service , ‘ human in the loop ’ AI is playing an increasingly prevalent role in augmenting the cyber defences of large organisations .

On the other hand , cybercriminals are exploiting AI to launch more sophisticated , hard-to-detect attacks . This includes hyper-realistic phishing emails , deepfake endorsements and fraudulent websites .

According to our Cost of Downtime Report , the retail industry suffers US $ 287 million in global downtime costs annually ( from events such as breaches and outages ) of which US $ 76 million is classed as ‘ lost revenue ’. And this doesn ’ t consider damaged brand loyalty . Imagine this : Your loyal customers , who trust you with their personal and financial information , realise their data has been

Imagine this : Your loyal customers , who trust you with their personal and financial information , realise their data has been stolen . They won ’ t just walk away – they may abandon your brand for good .

stolen . They won ’ t just walk away – they may abandon your brand for good .

Yes , AI can be a powerful tool to enhance the shopping experience , and in cyber defence measures , but when it ’ s used against you it can threaten your business and bottom line . Retailers must prioritise securing their systems against AI-driven incursion / fraud techniques – or risk turning their biggest sales event of the year into a significant opportunity for cybercriminals and fraudsters .

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