Source: https://www.cshub.com/attacks/articles/what-is-phishing
I’ve summarised this article for you:
Phishing attacks are a social engineering tactic used by malicious actors to gain access to confidential data such as passwords, financial details or personal data. They may do this to extort companies, to sell the stolen information over the dark web, or to use the data for identity theft. Companies and individuals can be targeted by phishing attacks, with malicious actors posing as legitimate companies using email, text messages or social media messages. Advances in artificial intelligence (AI) are making phishing scams ever more sophisticated, yet companies and individuals can still protect themselves with layered security approaches and following the advice set out by cyber security organizations.