Artificial intelligence (AI) has become indispensable in the cybersecurity domain, evolving in lockstep with increasingly sophisticated threats. This paper analyzes AI's growing role in combating cyber risks. The background establishes that AI now impacts various sectors, including cybersecurity. Its presence in defending digital assets has expanded since rudimentary spam filtering in the 2000s. However, the threat landscape has also evolved. Attacks like Stuxnet demonstrated more advanced capabilities, underscoring the need for improved AI defenses. The paper then examines the current state of AI in cybersecurity. Remote work and Internet of Things have increased attack surfaces. AI is now dual-use - assisting defenders while empowering attackers. This paper delves into AI's dual impact. On one hand, AI aids defenders by identifying threats, analyzing behavior, scanning for vulnerabilities, and automating responses. Machine learning algorithms can detect anomalies and emerging attack patterns. But AI democratization has also enabled sophisticated strikes. Criminals employ AI for spear phishing, social engineering, target profiling, and intelligent data sorting. The paper highlights potential future threats from AI-powered cyber weapons. In conclusion, while AI is integral for cybersecurity defense, its dual-use nature poses ethical challenges. As companies like Cylance continue innovating AI-driven solutions, they must also focus on addressing risks. With cyber threats rapidly advancing in complexity, the importance of AI for protection will only grow. But balanced oversight is crucial. Overall, this paper provides a comprehensive overview of where AI has been, where it is now, and where it may head next in the high-stakes battle against cybercrime. It emphasizes the need for AI advancement to match adversaries, while responsibly navigating AI's double-edged potential.