Abstract for: How AI Shapes Cyber Risk Management

Technological evolution and digital transformation are reshaping society. Concepts such as smart cities, e-health, and Industry 4.0 are now realities. However, the growing dependence on technology increases society’s vulnerability to cyber threats. Despite advances in cybersecurity, cybercrime has become the world’s third-largest economic power, pressuring governments and industries further to enhance security. Amid digital transformation, debates continue regarding AI’s role in cybersecurity. Supported by Colonial Pipeline incident walk-through, scientific and industrial research, as well as expert insights, we identify systemic structures relevant to cyber risk management. Additionally, this work examines how AI may impact these structures. As AI reshapes the field, our work introduces defense mechanisms and novel attack strategies while highlighting new systemic structures that influence the design of cyber risk management strategies. This change emphasizes the need for organizations to continuously re-assess their cyber risk management strategies in order to leverage technological innovation to their advantage and stay ahead of attackers. Not considering these new systemic structures may expose defenders to future risk scenarios. check spelling and language, format references in APA 7.