Kount, the leader in fraud prevention and identity trust, published the 2020 Bot Landscape and Impact Report, the industry’s first index to reveal the current state of good, questionable and malicious bots, their impact on business and the proliferation of bot protection tools. In working with an independent research firm, Kount surveyed online retail and eCommerce business employees with full-time roles related to fraud prevention, customer experience, payments and management. The findings bring to light new insights into how businesses are using good bots, the breadth of the threat posed by different types of malicious bots and the state of bot mitigation and management.
Read More: The Age Of Conversational AI – How We Are Rapidly Shifting From A Traditional Support…
New 2020 Bot Landscape and Impact Report Reveals Bots are More Widespread than Expected, and 88% of Companies Find Existing Bot Protection Tools Largely Ineffective
Research highlights include the following:
- 81% of businesses often or very often deal with issues related to malicious bots.
- More than half of businesses encountered more than 50 bot attacks in the last 12 months.
- 80% say there has been an increase in financial loss within their organization because of more complex and sophisticated bot attacks.
- One in four say a single bot attack has cost them $500,000 or more in the past year, and two in three say a single attack has cost $100,000 or more.
Read More: New Research Predicts SAP Partner Revenue Opportunity Will Nearly Double By 2024
The report finds that evolving bots are becoming increasingly difficult to detect and block, with traditional solutions relying too heavily on blunt force protection, which can then turn away potential customers and revenue. This can include options such as perimeter security, web access firewalls and content delivery networks.
To address critical bot-related issues, Kount is introducing the next-generation bot protection solution, Event-Based Bot Detection, a layered approach to identify and segment bots at key interaction points across the customer journey. Kount’s Event-Based Bot Detection is the first bot detection solution to quickly stop malicious bots, allow good bots, and analyze, classify and adapt policies toward new and questionable bots across the entire customer journey. Kount’s adaptive bot protection combines network, device and behavior signals with billions of identity trust signals from the Identity Trust Global Network.