The Increasing Threat of AI-Powered Phishing Attacks: A Guide for Mid-Market Businesses

Posted June 6, 2023

The digital age has brought about many conveniences and advancements. However, with this progress comes an increasing number of cybersecurity threats. Among these threats, phishing attacks pose one of the most significant challenges that organizations face today. The evolution of these attacks has seen an increase in prevalence and potency, particularly with the advent of artificial intelligence (AI) used to enable these attacks.

According to Zscaler, phishing attacks increased by 47.2% year-over-year in 2022. This rise is largely a result of cybercriminals using increasingly sophisticated techniques, including AI tools, to launch large-scale attacks. Businesses increasingly relying on digital communication channels and the surge in remote work over the past few years have only amplified the risk of these attacks.

Understanding AI-Powered Phishing Attacks

Artificial Intelligence (AI) has found its place in a wide range of applications, and unfortunately, cybercrime is no exception. AI can be used by malicious actors to automate and refine phishing attacks improving their effectiveness. Large Language Models (LLM) and Natural Language Processing (NLP) have transformed the landscape of phishing attacks into ever more convincing and vastly more scalable campaigns as victims are convinced they are communicating with legitimate human sources.

These techniques enable AI systems to generate realistic, human-like text, allowing phishing emails to be more personalized, targeted, and convincing. Instead of blanket, generic messages, cybercriminals can now craft emails that mimic the style and tone of legitimate correspondence, making them harder to detect and more likely to trick the recipient into clicking a malicious link or revealing sensitive information.

In essence, AI-powered phishing attacks can analyze user behavior and create personalized, convincing fraudulent messages. They are often more successful than traditional, manually crafted attempts witnessed in the past.

Leveraging External Expertise: The Role of Co-Managed IT Solutions

In the face of advanced threats like AI-powered phishing, mid-market businesses can greatly benefit from a co-managed IT approach. This model allows businesses to combine their in-house resources with the expertise of external cybersecurity specialists keeping them abreast of the latest threats and security options. Partnering with an external IT service provider, allows an organization to strengthen their security infrastructure, effectively mitigate threats, and better train their staff to recognize new threats in the future. In a co-management solution, businesses achieve this while maintaining control over their IT environment, showcasing the balance of autonomy and external support that co-managed IT solutions can offer.

Within a co-managed solution, internal teams can become more prepared to defend against the latest attacks as business users are educated on best cyber practices, trained to spot malicious activity, and encouraged to stay vigilant. IT teams are also leveraging the power of AI to defend against AI attacks by monitoring their systems closely using tools that can analyze activity patterns, spot suspicious behavior, and enable prompt response to prevent serious damage.

In an era where the pace of technological advancement and the evolution of cyber threats is accelerating, staying ahead in the cybersecurity landscape has never been more critical. The reality is that the threat landscape is changing faster than most organizations can keep up. However, with the right partnerships, businesses can navigate this dynamic environment with confidence. By partnering with Verus Corporation, you leverage the expertise of a team that stays ahead of the curve, constantly tracking, analyzing, and defending against the latest threats. This proactive approach, combined with our comprehensive range of IT solutions and co-managed IT services, ensures that your business isn’t just reacting to threats but anticipating them. Together, we can outpace cybercriminals, ensuring that your business remains secure, resilient, and ready for whatever the future brings. Partner with us and stay a step ahead in the ever-evolving cybersecurity landscape.

Kyle Vinar

Kyle Vinar is Partner / President of Verus Corporation. He oversees all business operations and coaches Verus teams to continually improve on their solutions from client experience to product development and overall solution implementation. He works with all Verus resources to increase efficiencies and excellence in every aspect of their organizational roles. Kyle believes that people are the last real competitive edge that a company can have and constructing a rich culture is a vital step in running a world-class organization. Therefore he strives to create a culture within Verus that allows everyone to show up authentically and grow both personally and professionally, which in turn allows Verus Corp team members to provide clients with top-of-the-line service. Kyle helps balance strategy, capacity, and culture in such a way that has allowed Verus Corp to achieve exponential growth since he joined the company in 2013. One of Kyle’s greatest professional achievements has been in helping lay the foundation upon which Verus Corporation could be named the 2nd Best Place to Work by the Minneapolis/St. Paul Business Journal. Kyle holds a Bachelor of Science in Marketing from St. Cloud State University. He lives in Champlin with his wife and 3 children. He has enjoyed volunteering as a soccer coach for over 6 years and was the former Director of Coaching for Rebels Soccer Club. If Kyle isn’t on the sidelines of one of his children’s soccer games or in the audience of his eldest’s musicals, he can often be found cruising scenic routes on his Harley, in a deer stand, or on the golf course.