The evolution of Security Information and Event Management (SIEM) systems has been marked by three major phases, beginning with the early 2000s when SIEM systems centralized security log collection for compliance and forensic purposes, significantly reducing the time analysts spent managing data. By the 2010s, SIEMs advanced to incorporate detection capabilities, allowing for the analysis of threats across multiple data sources and the use of machine learning to identify abnormal behaviors, albeit with challenges like false positives. The current phase, SIEM 3.0, is characterized by the integration of generative AI, which addresses the cybersecurity skills shortage by automating routine tasks, creating organization-specific remediation plans, and enabling natural language interactions, thereby enhancing the efficiency and effectiveness of security operations. This AI-driven transformation allows security teams to focus on critical threats and strategic responses, marking a significant leap in the capabilities of modern SIEM systems.