Gartner Survey Shows AI-Enhanced Malicious Attacks As Top Emerging Risk For Enterprises

Concern about artificial intelligence-enhanced malicious attacks has topped Gartner Inc.'s emerging risk rankings in the second quarter of 2024. Additionally, new concerns regarding soft ransomware targets are also coming to the forefront of enterprise risks, according to the survey of senior enterprise risk executives.

Three of the top five most cited emerging risks were in the technology category, which—apart from AI-enhanced malicious attacks—included soft ransomware targets and AI-assisted misinformation. Concern regarding soft ransomware targets entered the tracker for the first time.

“Similar to AI-enhanced malicious attacks, soft ransomware targets require minimal experience and cost to cause significant financial and reputational damage,” said Gamika Takkar, director, research, in the Gartner Risk and Audit Practice.

Escalating political polarisation, which first entered the tracker in the fourth quarter of 2023, remained the third most cited concern, while misaligned organisational talent profile moved up from the fifth to fourth most cited risk.

Causes Of Soft Ransomware Targets

Soft ransomware targets include the types of systems that may be especially vulnerable to ransomware due to underinvestment or technical debt, leading to longer disruptions in business operations when attacks occur. The ease of carrying out such attacks, via ransomware-as-a-service, allows cybercriminals with even minimal experience and technical skill to deploy attacks at low cost.

“Ransomware-as-a-service lowers the barrier to entry for inexperienced cybercriminals who know just enough about how to attack and disrupt business operations, creating worse impacts than usual when attacks occur,” said Takkar.

Potential Consequences To Mitigate

The potential impacts of soft ransomware targets range from operational disruptions and delay of services, to increased exposure to multi-extortion (e.g., ransom demand follows threats of selling, publishing or permanently deleting data), to increased financial burden in the form of direct and indirect costs. Direct costs include ransoms, remediation, litigation and public relations, while indirect costs, such as reputational damage and loss of intellectual property, also create burden on the organisation.

“While operational disruption and increased costs are dire consequences of soft ransomware targets, the exposure to extortion can impact not just the organisation itself, but any and all associated third-parties as well, further underscoring the importance of understanding and preventing such risk,” said Takkar.