The average cost of a data breach in the U.S. hit a high-water mark of $9.48 million in 2023. Losses have ticked up every year since 2013, even during the global health emergency of Covid-19 when many businesses shuttered. An analysis in IBM’s 2024 data breach report indicates that organizations that employed extensive AI security automation saved $2.22 million, while also lowering cybersecurity insurance.
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