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The research was conducted by B2B International on behalf of Vodafone, with a sample size of 300 Irish businesses. The financial impact of cybercrime on businesses is expected to grow, with other research indicating the cost will rise by nearly 50pc over the next three years as attacks fuelled by AI become more sophisticated. Because SMEs are now managing more data, and operating in the same complex digital environment as bigger firms, they can represent cheaper and easier targets for hackers. “The scale of AI-powered attacks means no business is too small or too remote to go unnoticed. If you’re online, you’re on the radar,” said Sinead Perry, head of SMB at Vodafone Ireland. “For SMEs, the risk is real – they are big enough to be a target but often don’t have the same security resources as larger firms. “Attackers only need to succeed once, while your defences must work every time. “Irish SMEs now face two major challenges: defending against AI-driven threats and ensuring their own use of AI is secure.” According to the company’s most recent business cybersecurity threat report, AI is now being used to clone voices, impersonate company executives and create highly realistic phishing campaigns, making it harder to spot malicious activity. Sophisticated identity hacks can lead to operational shutdowns, exposure of sensitive customer data and long-term reputational damage to businesses. The report highlights the emergence of adaptive AI malware, a type of malicious software that can learn and adapt to evade detection. Traditional antivirus systems are becoming less effective against this threat, it says. “It’s not just the volume that’s rising, but the speed as well: hackers can now encrypt multiple devices in less than five minutes,” the report adds. “This isn’t just a concern for IT teams – more than half of employees say AI is making scams harder to spot.” Recent high-profile victims of cyber attack include the British retailer Marks and Spencer, whose online operations were crippled for weeks and the British car maker Jaguar Land Rover.
