Abandoning Passwords Due to Rising AI-Powered Hacking Threats

A comprehensive study involving numerous companies across 5 countries has highlighted a growing trend: firms are ditching traditional passwords to protect their systems against the onslaught of AI-driven cyber attacks.

Instead, they’re turning to traffic management systems or passkeys to bolster their defences in the face of escalating AI techniques aimed at cracking passwords and penetrating networks.

According to the study, a staggering 8 out of 10 companies reported an uptick in cyber attacks in 2023. Alarmingly, 95% of these companies believe that AI technologies are making it increasingly challenging to detect infiltration attempts.

“LastPass,” a specialist company in password management technologies which conducted the study, revealed that recent advancements in AI have empowered cybercriminals with unprecedented precision in orchestrating attacks.

The study encompassed companies in the United States, Australia, Britain, France, and Germany.

Companies are actively encouraging their employees to abandon the use of traditional passwords and adopt more advanced password management techniques such as passkeys.

“LastPass” stated that 78% of the participating companies believe that using passkeys instead of traditional passwords will enhance the protection of their systems against cyber hacking.

Password management tools have been available for several years, catering to individuals or personal internet users who need to manage multiple passwords for various accounts and devices, including email, social media platforms, banking accounts, and work platforms.

Password management tools rely on more than two steps to verify and confirm the user’s identity before granting access to the account, thus fortifying the account’s protection against hacking attempts.

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