Artificial Intelligence Raises Cybersecurity Concerns, Tenable and CrowdStrike Poised to Benefit

Artificial Intelligence Raises Cybersecurity Concerns, Tenable and CrowdStrike Poised to Benefit | CyberPro Magazine


Artificial Intelligence Poses Cybersecurity Risks

Artificial intelligence (AI) has been hailed for its numerous benefits, but it also presents significant challenges in the realm of cybersecurity. According to a recent survey conducted by global consulting firm PwC, 64% of the 4,702 CEOs surveyed expressed concerns about the increasing cybersecurity risks associated with generative AI. This concern surpassed worries about the spread of misinformation and potential reputational risks.

Generative artificial intelligence possesses the ability to create hyperrealistic emails for phishing scams and even produce deep fake audio recordings that can impersonate executives over the phone. These sophisticated attacks target employees, aiming to deceive them into clicking on malicious links or divulging sensitive information. As AI-generated content becomes more indistinguishable from reality, it becomes increasingly challenging for individuals to discern between genuine and fraudulent communications.

To combat these evolving threats, proactive and automated cybersecurity software has become more critical than ever. This article explores how Tenable and CrowdStrike, two prominent cybersecurity companies, are well-positioned to benefit from the rise of AI-based cyberattacks.

Tenable’s Vulnerability Management Leadership

In the face of escalating cyber threats, companies can no longer afford to ignore the importance of cybersecurity. Deploying proactive tools to identify vulnerabilities before they can be exploited is crucial. Tenable, a leading cybersecurity company, offers the widely deployed Nessus platform, which serves as a comprehensive vulnerability management tool.

Nessus actively scans operating systems, devices, and cloud networks to identify potential vulnerabilities that malicious actors could exploit. With coverage against over 82,000 known common vulnerabilities and exposures, Nessus provides the broadest protection in the industry. Moreover, Tenable offers a range of specialized tools for advanced cloud protection, identity protection, and attack surface management, among others. Their ExposureAI tool utilizes generative AI to help security teams gain a better understanding of potential attack paths, enabling them to proactively limit exposures.

With over 40,000 organizations worldwide relying on Tenable’s solutions, the company’s revenue reached $798.7 million in 2023, a 17% increase compared to the previous year. This growth highlights the increasing demand for advanced cybersecurity measures in larger organizations. Tenable estimates that its addressable market will reach $33 billion by 2027, presenting a significant growth opportunity for the company. With its relatively affordable stock price compared to industry peers, Tenable offers an enticing investment opportunity.

CrowdStrike’s AI-Powered Endpoint Protection

Employees often represent the most vulnerable aspect of an organization when it comes to cyber threats. CrowdStrike, a leader in AI-powered cybersecurity, estimates that 90% of successful attacks originate at the endpoint, such as computers or devices used by staff members for accessing emails and the internet.

CrowdStrike’s flagship Falcon platform provides holistic protection for enterprises, encompassing endpoint, cloud, and identity security. AI lies at the core of their software, leveraging an extensive pool of data to train their models. With over 2 trillion security events observed daily and 180 million indicator-of-attack (IoA) decisions made every second, CrowdStrike’s Artificial Intelligence continuously enhances its ability to autonomously prevent potential breaches. By detecting and preventing attacks at their earliest stages, CrowdStrike helps organizations mitigate risks and safeguard their sensitive information.

In the recent fiscal 2024 third quarter, CrowdStrike achieved annual recurring revenue (ARR) surpassing $3 billion for the first time. With a plan to triple its ARR to $10 billion within the next seven years, the company anticipates substantial growth. Although CrowdStrike’s stock is trading at an all-time high and has a relatively high price-to-sales ratio, the increasing demand for AI-powered cybersecurity solutions suggests promising prospects for long-term investors.

In conclusion, as artificial intelligence continues to advance, the cybersecurity landscape faces new challenges. The risks posed by generative AI demand proactive measures to protect organizations from cyber threats. Companies like Tenable and CrowdStrike, with their expertise in vulnerability management and AI-powered endpoint protection, are well-positioned to address these challenges and capitalize on the growing demand for advanced cybersecurity solutions.

Also Read: The Role of AI in the Cybersecurity Arms Race