As AI reshapes cyber threats, EY bets on IP led cyber platforms over traditional consulting - BusinessToday

• Global deal-making has surged to $3.2 trillion in the first six months of the year, marking the highest spending period in a decade. • The boom is primarily driven by the AI economy, with 44 massive deals exceeding $10 billion, including both corporate takeovers and private market fund-raising.

• Microsoft has started deploying its own in-house MAI models to reduce reliance on expensive third-party AI services from providers like OpenAI and Anthropic. • This strategic shift comes as the tech industry faces a general spending pullback due to the escalating costs of maintaining high-performance AI infrastructure.

• The European Parliament failed to pass a motion to reject "EU Chat Control," allowing the scanning of private messages for child sexual abuse material (CSAM) to continue. • This decision extends the implementation and potential surveillance capabilities of the rules until 2028.

• Global cybersecurity spending is projected to reach $240 billion by 2026, according to a new report from IDC. • The rise of AI and post-quantum security is forcing organizations to redefine their cybersecurity framework selections to combat evolving threats.

• Global cyberattacks increased by 17% in June 2026, according to new threat intelligence released by Check Point Software Technologies. • The surge was driven by a sharp rise in attack volumes, specifically targeting organizations through ransomware incidents and AI-driven security risks.

• Executive Vice-President Henna Virkkunen presented the EU Action Plan on Cybersecurity and Artificial Intelligence on Tuesday to address escalating cyber risks. • The plan focuses on developing safer AI models, accelerating the detection of vulnerabilities, and strengthening the enforcement of current regulatory frameworks.

• Israeli startup QIZ Security announced on Thursday that it has raised $17 million in seed funding to develop its cryptographic governance platform. • The funding round was led by Bessemer Venture Partners and Merlin Ventures, with additional support from Evolution Equity Partners, Qbeat Ventures, Singtel Innov8, and Qino Cyber Capital.

• The European Commission has launched a new AI cybersecurity action plan aimed at enhancing digital resilience and securing the deployment of advanced AI models across Europe. • The initiative focuses on improving rigorous testing protocols and establishing frameworks to mitigate the security risks associated with the rapid integration of AI.

• Europe-based startups raised $24 billion in Q2, marking the region's strongest venture funding quarter in four years. • This represents a one-third increase quarter-over-quarter and a significant rise from the $14.4 billion raised in Q2 2023.

• The European Parliament has approved an urgent procedure to fast-track legislation aimed at reviving the expired "Chat Control 1.0" rules. • This move allows for a decisive vote on July 9 to determine if online platforms can voluntarily scan private user communications for child sexual abuse material (CSAM).

• European startups raised $24 billion in the second quarter of 2026, marking the strongest quarterly performance in four years. • This funding surge represents an approximate 33% increase compared to the previous quarter.