The artificial intelligence (AI) in cyber security market stood at $8.6 billion in 2019, and it is projected to reach $101.8 billion in 2030, advancing at a CAGR of 25.7% during the forecast period (2020–2030). This growth is supported by factors such as the rapid digitization of industries, high penetration of mobile internet, huge investments by governments, information technology (IT) sector, and financial institutions in the AI technology, and shift from conventional banking to digital banking.

However, the biggest reason for the market growth remains the alarming cybercrime incidence. In August 2019, the Government Accountability Office (GAO) of the U.S. stated that despite combative actions, cybercrimes are growing every year. With the escalating incidence of cyber frauds, such as payment card thefts and identity frauds, organizations are suffering significant financial losses.

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If these attacks are not countered quickly, they end up having a long-term impact on businesses. AI-driven solutions tackle cyber frauds by identifying threats, refining techniques, reducing the response time, and better distinguishing attacks that need immediate attention. Another factor driving the AI in cyber security market growth is the implementation of the bring-your-own-device (BYOD) policy, as it enhances employee satisfaction and increases productivity.

However, this policy poses a major risk, as it makes corporate data vulnerable to cyberattacks. The devices of employees have varying hardware and software configurations, and IT departments might not be able to fully qualify, evaluate, and approve every device, which can pose a high security threat to confidential data. AI provides advanced protection through the machine learning (ML) technology and, thus, offers complete endpoint security.