- Multiple reports note AI now in common use by attackers.
- Multilingual attacks more easily undertaken.
- Staff shortages in cybersecurity functions worldwide.
AI-related risks and fraud are topping the list of worries that today’s CISOs have on their desks, according to a World Economic Forum (WEF) report. Consumers too are very much aware of issues like identity theft, with 68% of those surveyed in an Experian paper citing it as their primary concern.
The WEF report states there is a growth of generative AI tools that allow cybercriminals to improve their activities against businesses and individuals, stating that 73% of surveyed CEOs, or someone in their professional or home network, had been affected by technology-based fraud in 2025. 62% of respondents reported witnessing or experiencing a phishing, vishing (voice phishing), or smishing (SMS phishing) attack, while 37% encountered invoice or payment fraud. 32% of consumers have reported or witnessed an instance identity theft.
The survey WEF summary claims AI vulnerabilities and fraud are the new top concerns of CEOs, shifting focus from ransomware, the primary concern of a year ago. Recent data from the US Federal Trade Commission reveals that in 2024, consumers in the US reported $12.5 billion in losses due to fraud, a 25% year over year increase.
Konstantin Levinzon of VPN company Planet VPN, predicts that the numbers will grow in 2026 due to the prevalence of AI in attackers’ toolboxes. “As businesses face challenges in protecting their networks, individual consumers are also seeing an increase in personal cybersecurity risks. Recent developments in generative AI are lowering the barriers to executing all kinds of attacks […] making them appear more credible.”
The Experian report says 68% of consumers are concerned about identity theft, with 61% worried about their credit card data being stolen.
According to the WEF, the rise of generative AI amplifies digital safety risks for groups like children and women in particular, who are increasingly targeted by impersonation and subject to the use of synthetic image and media manipulation. Levinzon points out that with the help of AI, scammers can translate and localise their social engineering scams and make impersonations more authentic and convincing, launching realistic deepfake attacks on consumers and businesses.
“Criminal networks that previously focused on a limited range of languages can now target populations all over the world with local languages. This expansion also speeds up the spread of AI-driven disinformation and makes it harder for platforms and regulators to protect users from coordinated manipulation,” he said.
The WEF report states one of the biggest issues for businesses is a shortage of trained cybersecurity staff. 33% of firms in Europe and Central Asia (35% in North America), say they need more experts with advanced skills. In Latin America and African countries, up to 70% of companies face such skill shortages.
Levinzon claims the latest AI tools can help overcome shortages by replacing some of the work done by humans. However, if implemented by inexperienced personnel, AI can introduce new risks of misconfiguration, biased decision-making and an over-reliance on automation.
“The most effective remedy […] is education. Well-informed employees and users are less likely to fall for scams, more likely to use unique passwords, and enable multi-factor authentication.”
(Image source: “Jose Luis Rodriguez Zapatero – World Economic Forum Annual Meeting Davos 2010” by World Economic Forum is licensed under CC BY-NC-SA )
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