The Expert Podcast

So why are cyberattacks becoming more common, and what's the future holding? Well, you're going to see that cyber attacks and cyber security are going to be a lot more common in the news because artificial intelligence is now being deployed by hackers to launch these attacks. When you have to do it manually, in hand-to-hand combat, it's a lot more difficult. You can't make as many attacks. But when AI can start using these vectors to get into companies, you're going to see a lot more of them happen. This is going to be, as it says here, a major risk to businesses. Every business is going to have this attack deployed on them. How well you defend it and respond to it—that's going to be the determining factor.

In fact, they're getting so bold that hackers are starting to attack law firms and legal departments. You have to have a lot of confidence in your ability to launch an attack if you're going to go after law firms, and they do. They're using legal search terms to get into a law firm, and then from there, they can get all kinds of sensitive information about clients. So make sure that if you're a law firm, you have the proper protections and that you're also insured against damages that a hacker would do to your clients.

In addition, the other reason that hacks are being more successful is that there's what's called digital fatigue. What is digital fatigue? What that means is that employees are just burnt out and worn out from cyber security-type efforts. You have to be very careful not to put too much cyber defense and cyber security on the backs of employees. You want to have that done in your IT department more likely. You want to have outsourced cyber security forces protecting you because they're going to know what the common, most urgent threats are, and they're also going to be aware of what the emerging threats are. Look, what the risks are today are going to be different even two weeks from now. So if you're a manager, a director, or an officer, make sure you have the proper protocols in place, and also make sure you have proper coverage under your directors and officer insurance because you may be liable if things like this happen.

Cyberattacks—look, any major business operational risk is your responsibility as a director, as a CEO, and as a president. So first of all, having things in place to prevent it is important, but so is coverage. You have coverage for many other types of operational risk as an executive in your company. And be aware, attorneys are not immune. We saw, you know, in the in the prior video how car dealerships are being attacked; now law firms are being attacked. If you have questions about cyber security or want more consultation, you can reach us at our website using the link below.