83% of companies hit by bot attack in last year

Eighty-three percent of companies had one or more bot attacks over the past 12 months, 77% of which had lost at least 6% of their revenue and 39% of which had at least 10% revenue loss, according to VentureBeat. A Kasada report also showed that 80% were in agreement that increasing bot attack sophistication has exacerbated detection challenges, and 85% reported having ineffective bot mitigation solutions a year following deployment. Only 31% of companies reported being very confident in their current solution's capabilities in identifying novel zero-day bots, while 76% said they were engaging in a cat and mouse chase with bot attackers or were struggling to keep pace with evolving bots. Researchers also found that 25% of respondents have spent $500,000 on average to deal with a single bot attack, while 77% reported that their existing bot mitigation solutions had maintenance costs of at least $250,000. Meanwhile, 87% believed in the competitive advantage of having effective bot mitigation.