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The use of artificial intelligence (AI) in cybersecurity is growing to enhance threat detection, automate responses, enhance vulnerability management and support decision-making in a digital ecosystem. However, AI has also brought new challenges as the same tools that can be used to strengthen cybersecurity can also be used by cybercriminals to automate attacks, use smart malware, social engineering, adversarial attacks, and privacy breaches. In this article, we explore the double-edged effects of AI in cybersecurity through a review of the literature on AI-powered cyber defense, AI-powered cyber threats, organizational cybersecurity, ethical considerations and future research. This article argues that AI should not be seen as a substitute for human cybersecurity skills but as a sophisticated decision support and automation system that needs to be governed, transparent, accountable and monitored. The review finds that the potential of AI in cybersecurity will lie in the capacity of organizations, researchers and policymakers to manage innovation and risk, particularly in relation to adversarial AI, explainable AI, data protection, human accountability, and cyber governance.