Perhaps the biggest near-term AI opportunity is reducing cybercrime costs, according to think tank Cato Institute.
With serious attacks unfolding almost daily, digital insecurity’s economic weight has truly grown out of control. Cybersecurity Ventures estimates annual cybercrime costs will hit $10.5 trillion in 2025, a showstopping 9 percent of global GDP, making it the world’s third-largest economy. This is truly an unrivaled crisis, and opportunity.
To seize the opportunity, our single best hope is AI. There’s no question human engineers have failed to contain this cost crisis. As threats rapidly proliferate, human labor has remained profoundly limited. Thankfully, a truly promising set of AI technologies is emerging to not only manage the challenge but also significantly reduce total costs.
With the right choices, emerging AI could slash costs and unleash untold abundance. Let’s get this right.