The global threat landscape is changing, but that does not mean risk is receding. AI is beginning to accelerate key parts of the attack lifecycle, from phishing and vulnerability research to malware development and operational planning. At the same time, geopolitical tensions continue to shape hacktivist and state-linked activity, pushing threat actors toward higher-impact targets.

Each section of this report focuses on a different aspect of that evolution: how AI is entering attacker workflows, how ransomware is maturing as a criminal market, how breach and credential activity shifted, and how geopolitical dynamics are shaping who gets targeted and how.