Cyber Risk Management With the Help of Artificial Intelligence in Smes: Analysis of Barriers and Needs

Abstract

Cyber Risk Management is a critical concern for Small and Medium Enterprises as they increasingly become attractive targets for cyber-attacks. Despite this, many Small and Medium Enterprises lack awareness about the growing cyber threats they face. With artificial intelligence tools' emergence, opportunities and threats for cyber attackers and defenders have heightened. Small and Medium Enterprises require resources and knowledge to protect themselves against cyber-attacks effectively. Social engineering attacks like phishing emails or malware-infected websites are common in the digital landscape. This paper provides an overview of barriers and needs in Cyber Risk Management for Small and Medium Enterprises, based on a literature review conducted via Web of Science, Scopus, and Google Scholar. The current state of Cyber Risk Management in Small and Medium Enterprises is analyzed, focusing on identified shortcomings. Additionally, the availability of AI tools for Small and Medium Enterprises is examined, and best practice examples are provided to guide Small and Medium Enterprises in improving their cybersecurity.