New survey data reveals the rise and financial impact of malicious bots on businesses

Fastly, Inc., a global leader in edge cloud platforms, has released the results of its latest survey, "Bot Wars: How Bad Bots are Hurting Businesses," highlighting the growing threat of bot attacks. The survey reveals that 59% of IT professionals have reported an increase in bot attacks over the past year, with the most significant incidents costing companies an average of $2.9 million.

1. The Dual Nature of Bots:

   • Bots, while useful for automating tasks, have become a significant cybersecurity threat when misused by malicious actors.
   • Fastly Security Product Manager Daniel Corbett emphasizes the urgent need for robust defenses against bot attacks, which are increasingly harming businesses.

2. Survey Findings on the Prevalence of Bot Attacks:

   • 76% of organizations across various industries, including financial services, retail, IT, and telecommunications, reported facing at least one bot attack in the past year.
   • A substantial 43% of respondents experienced multiple bot attacks, highlighting the growing frequency and sophistication of these threats.

3. Types of Bot Attacks Experienced:

   • Malware Distribution: The most common threat, reported by 49% of organizations.
   • Web Scrapers and Click Fraud: Tied at 44%, these bots disrupt online advertising and content protection.
   • DDoS and Spam Bots: Each reported by 41% of respondents, these bots are used to overwhelm networks and distribute unwanted content.

4. Discrepancy Between Technical Staff and Senior Management Awareness:

   • While 73% of technical staff dealing with security incidents daily have observed a rise in bot attacks, only 53% of senior management acknowledge the increase.
   • This gap suggests a need for better communication and awareness at the executive level to enhance organizational defenses.

5. Concerns and Preparedness:

   • Respondents expressed concern over potential data breaches (48%), financial losses (41%), and business disruptions (39%) resulting from bot attacks.
   • Despite these concerns, 47% of respondents believe their organizations could do more to prepare for and defend against bot attacks.

6. The Role of AI in Amplifying Bot Attacks:

   • The survey also explored the potential impact of AI on bot attacks, with 45% of respondents believing AI will significantly increase the frequency of attacks.
   • Additionally, 27% think AI will amplify the severity of these attacks, underscoring the evolving nature of cybersecurity threats.

Fastly's survey underscores the growing threat of bot attacks and the significant financial impact they have on businesses. As these threats continue to evolve, the need for robust defenses and greater awareness at all levels of an organization becomes increasingly critical.