According to the Federal Trade Commission, impostors were the No. 1 reported scam in the U.S. in 2024. Globally, the cost of cybercrime was estimated to be $9.5 trillion last year. And this year, it’s expected to reach $10.5 trillion.
Scams using artificial intelligence (“AI”) have made this threat a lot worse. And AI cybercrime isn’t going away.
Spending on cybersecurity – including hardware, software, and services – was about $215 billion last year. By 2035, this market is expected to more than triple to $697 billion.
When it comes to cybersecurity, this is a big trend to watch in the long run.
This post originally appeared at DailyWealth.