2023-06-23 09:55:27 ET
J.P. Morgan noted that generative artificial intelligence continues to be a top topic of conversation with investors, with cybersecurity having multiple practical use cases for AI and machine learning.
The brokerage said generative AI can help the cybersecurity industry tackle the increasing volume, sophistication and severity of threats while dealing with a talent shortage. It believes companies can utilize AI to upskill their existing workers.
Cybersecurity firms with access to large enterprise budgets, platforms that addressed top CIO spending properties, and in a position to gain from vendor consolidation performed better this earnings season, according to J.P. Morgan.
Brokerage believes while cybersecurity is prone to similar challenges facing the rest of the software industry, it remains more durable than other IT spending sectors.
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J.P. Morgan believes generative AI can help cybersecurity firms solve their talent gap