This year we find that cyber debt continues to build with GenAI, rise of machine identities, and increasing third- and fourth-party risks. This growth in vulnerable identities, boosted by the ongoing AI transformation and pervasive cloud computing, is a here-and-now threat ready to be exploited by bad actors with the AI-powered ability to execute at scale. Perhaps the only thing more disturbing than the emergence of deepfake videos is our collective overconfidence that we won’t be fooled by them.