  Undoubtedly, the evolution of Generative AI (GenAI) models has been the
highlight of digital transformation in the year 2022. As the different GenAI
models like ChatGPT and Google Bard continue to foster their complexity and
capability, it's critical to understand its consequences from a cybersecurity
perspective. Several instances recently have demonstrated the use of GenAI
tools in both the defensive and offensive side of cybersecurity, and focusing
on the social, ethical and privacy implications this technology possesses. This
research paper highlights the limitations, challenges, potential risks, and
opportunities of GenAI in the domain of cybersecurity and privacy. The work
presents the vulnerabilities of ChatGPT, which can be exploited by malicious
users to exfiltrate malicious information bypassing the ethical constraints on
the model. This paper demonstrates successful example attacks like Jailbreaks,
reverse psychology, and prompt injection attacks on the ChatGPT. The paper also
investigates how cyber offenders can use the GenAI tools in developing cyber
attacks, and explore the scenarios where ChatGPT can be used by adversaries to
create social engineering attacks, phishing attacks, automated hacking, attack
payload generation, malware creation, and polymorphic malware. This paper then
examines defense techniques and uses GenAI tools to improve security measures,
including cyber defense automation, reporting, threat intelligence, secure code
generation and detection, attack identification, developing ethical guidelines,
incidence response plans, and malware detection. We will also discuss the
social, legal, and ethical implications of ChatGPT. In conclusion, the paper
highlights open challenges and future directions to make this GenAI secure,
safe, trustworthy, and ethical as the community understands its cybersecurity
impacts.
