The New York Department of Financial Services (DFS) published an industry letter directed toward regulated entities, including insurers. The letter provides information and guidance on the increased risk of AI-related cybersecurity risks and how to mitigate those risks.

The letter highlights some of the major cybersecurity threats discovered, including risks caused by bad actors using AI and dangers caused by an organization's use of AI. 

The first is AI-enabled social engineering, where the bad actors use AI to create personalized social engineering attacks, including realistic and interactive audio, video, and deepfakes, to target specific individuals. Another is AI-enhanced cyberattacks, which allow cybercriminals to amplify the scale and speed of existing cyberattack techniques. In addition, with the increased availability of AI products, even people who were not skilled enough before may be able to use AI to launch their own cyberattacks.