IBM's "Cost of Data Breach Report 2024" reveals a significant increase in the global average cost of data breaches, reaching $4.88 million, a 10% rise from the previous year. This increase is primarily due to significant disruptions in the operations of affected organizations. Intellectual property theft has risen by 27%, driven by the use of unmanaged shadow data. However, the report also highlights that implementing artificial intelligence (AI) and automation in security can reduce breach costs by $1.88 million and expedite the detection and containment of incidents. Additionally, a shortage of qualified security personnel has contributed to higher breach costs, emphasizing the need for investment in cybersecurity training and skill development. This report underscores the importance of advanced technologies and constant vigilance to protect data in an increasingly challenging digital environment.