The world, especially developing countries, is going through digital transformation. Digital transformation of businesses, cities, manufacturing sector, service sector, government offices and procedures, vehicles (Internet enabled vehicles), and Industry 4.0 are taking place at a distinguished pace and have many rewards. Digital transformation helps to address many social, techno-financial, and governance issues, but it also carries many challenges like increased volume of cyber-attacks, privacy concerns, security threats, digital identity threat, phishing frauds, operational security, and many other vulnerabilities. Aforesaid challenges have become a common phenomenon in today’s interconnected world. It is the time when cyber-security must be stationed as a central issue and be established as a management issue besides a technological issue. The COVID-19 pandemic has accelerated the digital transformation. Work from home (remote working) and learn from home (online learning) are the new normal of life. The repercussions set by the COVID-19 pandemic will outlast the post-pandemic era. AI can help human society to resolve modern issues of cyber security.