Even as things are slowing down, we as a society are underinvesting in cybersecurity, Nikesh Arora, Chairman & CEO of Palo Alto Networks, told CNBC-TV18's Shereen Bhan during an interaction on the State of Cyber Security and the Role of Artificial Intelligence (AI) in the industry at the World Economic Forum (WEF) in Davos, Switzerland on Wednesday.

Arora acknowledged that while things may be slowing down, it is a hint of optimism in the face of ongoing concerns about cyber security. He also mentioned the release of a report on cyber security by his company in partnership with the WEF team.

Arora cited the increasing frequency of cyberattacks, specifically mentioning the rise of ransomware attacks in recent years. He also noted that these attacks not only cause financial damage but also create disruption and chaos.

Despite these challenges, Arora sees a glimmer of hope in the form of increased awareness and resilience in the face of cyber threats. He also emphasised the importance of good people working on the problem, stating that "a lot of good, well-minded people are working on it."

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On the topic of AI, Arora stated that it is "always been the next big thing in technology pulling money" and that the technology is only going to get more powerful in the future. He also acknowledged the potential for regulation of AI, but emphasised that the biggest question around AI is centred around data collection. He went on to say that "collection of data takes the first seat" and that "everybody is going to collect data using some sort of AI".

Finally, Arora expressed his bullishness on India, mentioning that his company is investing in more technology for the Indian market.

In conclusion, while cyber security and AI pose significant challenges, Arora is optimistic that with increased awareness and the efforts of good people, we can overcome these challenges and harness the power of these technologies for good.

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(Edited by : Pihu Yadav)