Every year, companies lose money as a result of online betting on the March Madness basketball tournament. Technology company Advizex estimates that this year, U.S. companies will lose more than $18.3 billion in revenue as a result of March Madness. And AI is expected to play a significant role.
AI has made cyber attacks more effective and efficient, and online betting platforms can be expected to be among the victims. Estimates say that AI will increase the effectiveness of cyber attacks by 11 percent by 2025. March Madness is an excellent opportunity for cyber criminals to cash out. That’s because it takes place over weeks, and most of the betting these days is online-based and happens during common work hours.
“With employees streaming games or participating in online betting pools using company devices and networks, organizations are vulnerable to a range of cyber threats, from phishing attacks to malware infections,” said Matt Gaudio, vice president of strategy at Advizex.
