Cybercrime generates $10 trillion annually, making it the third-largest and fastest-growing economy in the world. “These criminals literally just send a malicious link that looks safe, and the next thing you know, they’ve taken control of your business or personal network,” said Kalyn Hove, Regional Senior Vice President, Comcast Midwest.
Comcast estimates that by 2027, cybercrime will generate upwards of $15 trillion, with the average organization having about 2,000 threats every single week.
“We have a responsibility to do everything we can to mitigate that threat,” said Hove. “We also have to educate businesses and customers and ensure they have the right cybersecurity solutions in place.”
While AI is helping to drive the growth of cyberattacks, it is also a tool being used to stop criminals. For example, Comcast offers businesses technology solutions that deploy AI to track normal and abnormal behavior across the network. When something seems suspicious, it is flagged. “We live in Minnesota, squirrels chew wires, there can be water damage or a cyber threat,” Hove explained. “We work to mitigate these issues and keep people online. We’re using AI technology more and more in everything we do to create a better and more effective experience and address issues even before the customer notices it.”
Creating an aggressive approach to cyberattacks is just one of the ways providers like Comcast are having to adapt to the changing broadband, wireless, video, and phone technologies, and what users in the Twin Cities want.
“We’re consistently investing in technology,” said Hove. “Just in the last three years in Minnesota alone, we’ve invested over $525 million upgrading and expanding our network because, let’s face it, broadband and internet are the backbone to everything we do.”
In 2024, Comcast helped customers detect and fight more than 34 billion cyber events. Comcast offers cybersecurity for individuals through Xfinity xFi Advanced Security, which protects all devices on a home network, and for businesses through Comcast Business SecurityEdge™, a cloud-based solution that helps protect against threats like malware and phishing.
Hove says the bottom line is that whether you are a business or an individual, you have to arm yourself when it comes to protecting your company or family from cybercrime.
“It’s not a matter of if an individual will be impacted by a cybersecurity event; it’s when,” Hove warned. “We have to ensure our customers are well educated that we have great tools and solutions in place to protect them.”