Automation and AI in Cybersecurity: $2.22 Million in Savings

Over 2024, the average global cost of a data breach reached $4.88 million. This is 10% up from the previous year and the highest amount to date.

These figures, published in the Cost of Data Breach Report 2024, also reveal that companies implementing artificial intelligence and automation in their cybersecurity strategies saved an average of $2.22 million compared to businesses that did not adopt them.

AI and automation not only ease the operational burden on security teams but also enable faster, more effective, and more controlled responses to incidents. This is particularly relevant in a regulatory environment defined by increasingly strict data protection legislation like the European General Data Protection Regulation (GDPR), which requires strong personal data security and imposes severe penalties for noncompliance, as well as by the growing shortage of specialized cybersecurity talent. 

Many companies simply lack the resources to deal with all these issues effectively. This is complicated further by the fact that the report shows that 40% of breaches occur in data stored across multiple environments. That’s why partnering with a managed service provider (MSP) helps organizations take a more strategic approach as the MSP offering integrates AI and automation, thereby unlocking benefits such as:

1- Optimized Operational Workload

While teams may show a degree of initial resistance to automation, fueled by concerns regarding automating critical tasks, a well-implemented AI system can clearly take over repetitive processes like alert analysis, incident classification, and initial response. This lightens the workload and allows security professionals to focus on more complex tasks.

AI improves threat detection by analyzing behavior patterns, enabling faster and more accurate responses. This is crucial, as the report states that 46% of customer data breaches involve personal information.

2- Faster, More Controlled Incident Response

AI-driven threat detection enables organizations to identify attacks that bypass perimeter defenses, such as ransomware or vulnerability-based attacks.

According to IBM’s Cost of Data Breach Report 2024, it took an average of 292 days to detect and contain breaches involving stolen credentials. AI helps deliver key information in real time, allowing for more accurate decision-making. By integrating these automated processes, organizations strengthen their cybersecurity posture and ensure swift, adaptive responses to the ever-evolving digital threat landscape.

3- Reduced Financial Impact

While short-term savings are often thought to come from preventing attacks, the real value lies in minimizing financial consequences and ensuring business continuity, safeguarding both clients and suppliers.

AI and automation provide a fast and efficient response to cyberattacks, significantly mitigating immediate damage like data loss or prolonged downtime, as well as long-term costs, including system recovery, new security measures, or regulatory fines and compensation for affected users.

4- Mitigating Reputational Damage

Corporate reputation is an invaluable yet fragile asset that can be severely damaged by a cyberattack. Damage is exacerbated when customer data or access is compromised. To tackle this issue, it’s essential to adopt technology that protects data strategically, reinforcing both customer trust and organizational resilience.

Although many organizations are quickly adopting AI, only 24% of these initiatives are currently secure, according to the report. The lack of protection puts data and models at risk of compromise, potentially undermining the very benefits AI projects aim to deliver for business security.

By investing in artificial intelligence and automation, companies protect the present and secure a more substantial, safer future. Cybersecurity is no longer a luxury, it’s a necessity. Security leaders must anticipate risks and respond effectively, mitigating the financial, operational, and reputational impacts of cyberattacks. Partnering with a trusted provider is a key strategy for ensuring business continuity and maintaining the trust of clients and partners alike.