The 'AI Is Raising the Stakes in Cybersecurity' report, published by consulting firm Boston Consulting Group (BCG), finds that almost 60% of African companies believe they experienced an AI-powered cyberattack in the past year, while only half prioritise using AI to improve cyber-defences.

The report finds that 3% of African companies, compared with 5% of companies globally, have significantly increased cybersecurity budgets owing to AI. Further, 82% of African companies, compared with 69% of companies globally, report difficulty hiring AI-cybersecurity talent.

However, only 25% of companies consider existing AI-enabled defence tools to be advanced, which is a growing concern as agentic AI accelerates threat evolution.

“AI is enabling a new era of cyberthreats that are faster, more deceptive and more scalable, and African businesses are already feeling the impact. More than half have faced AI‑enabled attacks in the last year, yet only 29% have advanced AI cyber‑defence capabilities.

“This gap between the speed of attackers and the tools defenders use is creating an exposure level our continent can no longer afford,” said BCG Casablanca MD and senior partner and BCG Tech Hub in Africa head Hamid Maher.

AI is enhancing attackers’ capabilities across a range of tactics, from ransomware and phishing to voice cloning and deepfake video fraud, the report shows.

Specifically, among the case studies in the report there is one involving a $25-million fraud incident at a multinational engineering firm, which had been triggered by a deepfake video call impersonating the CFO.

Another case study involves the AI-generated robocall campaign spoofing voter communications, which led to a $1-million regulatory fine. The report also includes a ransomware attack on a healthcare provider that encrypted hospital systems and delayed surgeries.

The report finds high risk exposure across all industries, with healthcare and government among the most vulnerable.

“While attackers are evolving with AI, most organisations across Africa are still relying on outdated tools and underfunded strategies. When 82% of companies struggle to hire AI‑security talent, Africa's cybersecurity posture must shift from reactive to future‑ready,” recommends BCG Platinion Casablanca MD Hakim Hamane.

The 50 executives surveyed in Africa foresee that the nature of AI-powered cyberattacks will continue to evolve rapidly, requiring a constant recalibration of defences.

The most critical AI threats to organisations over the next two years include AI-enabled financial fraud highlighted by 43% of respondents, AI-powered social engineering highlighted by 39%, attackers using AI to accelerate vulnerability discovery at 28%, and AI-powered malware that learns and adapts to bypass defences for 26% of respondents.

The report calls for a dual leadership model to close the defence gap. CEOs must prioritise cybersecurity and AI at the board level, while chief information security officers should accelerate deployment of high-impact, AI-enabled use cases.

“Attackers are moving at machine speed. The only winning strategy is to meet autonomy with autonomy, through intelligence, leadership and commitment. This is the moment when organisations decide whether they will shape the AI-cyber landscape or be shaped by it,” says BCG Centre for Leadership in Cyber Strategy global director and report co-author Vanessa Lyon.