Artificial intelligence (AI) is transforming our businesses and everyday lives, promising greater efficiency and productivity.
However, this same power is also being exploited by cybercriminals, making threats more sophisticated and harder to detect.
For Quebec SMEs: Managing AI to Prevent Risks
For small and medium-sized businesses, AI offers undeniable advantages, but it also introduces new risks. The unregulated use of AI tools by employees can lead to the inadvertent sharing of sensitive or confidential information, exposing the business to data theft, financial fraud, or reputational damage.
Ransomware attacks and business email fraud remain major threats, and AI is making them even more convincing and effective. Strict oversight and monitoring by employers are essential to protect company assets.
An employee, without any malicious intent, could:
- copy sensitive information into a public AI tool;
- use a platform not approved by the company;
- transmit confidential client data;
- fall victim to a fake AI-generated message.
The consequences can be significant, ranging from operational disruptions to legal obligations related to the protection of personal information.
For Employees and Individuals: Staying Vigilant Against Sophisticated Fraud
Caution is just as essential for employees and individuals. Fraudsters are using AI to create fake phone calls, voice impersonations (deepfakes), convincing messages, and fraudulent investment schemes. What was once easy to spot now appears disturbingly realistic, turning scams into traps that are increasingly difficult to detect.
Fraud is evolving rapidly, whether through fake calls from a loved one, fraudulent text messages, or identity theft on social media.
Some Best Practices to Reduce Risks
To minimize these growing threats, adopt the following measures:
- Establish a clear company policy on the use of AI and provide regular employee training
- Always verify unusual requests through a second communication channel
- Use multi-factor authentication (MFA) on all important accounts
- Avoid sharing sensitive information on unapproved public AI tools
- Keep your systems and software up to date
AI, Cybersecurity, and the Importance of Being Prepared
AI is here to stay and will continue to evolve. Rather than fearing it, we must learn to use it responsibly and securely. No technical measure can provide complete protection against cyber threats.
That is why, beyond prevention and awareness, a comprehensive cybersecurity strategy should include a strong risk management plan.
At Lussier, we care deeply about our clients’ financial well-being and peace of mind. Our experts are here to advise you, help you manage risks, and protect your company’s financial health in the event of an incident.
Cyber Risk Insurance complements your IT security by providing the resources needed to manage a crisis and cover expenses related to a cyber event.
Do not hesitate to contact our experts to discuss your Cyber Risk Insurance needs: cyber@lussier.co
Sébastien Lafond
Senior Account Manager and Practice Leader of Technology Risks • Commercial Lines Insurance
