Artificial intelligence likely makes you think of the future, but it is a reality in present-day cybersecurity. The security of financial data is essential for organizations of all sizes and AI can help. As cyber threats adapt and change, it’s clear that advanced cybersecurity measures need to be put in place now. In fact, experts project worldwide spending on cybersecurity to surpass $133.7 billion by 2022.
How Can Financial Data Be Compromised?
One of the most common ways data is breached is by exposing user credentials and the most common way this is accomplished is by phishing. Phishing is where an attacker attempts to collect user credentials through fraudulent messages or websites that look real. Data can also be breached through misconfigured systems or weak encryption. That being said, there are several ways to protect against these financial data threats.
How AI Can Help
Artificial Intelligence focused security can help enhance traditional security systems because it can run 24/7 and be ready to respond to threats immediately. It can identify potential phishing emails and remove them from an employee’s inbox before they even see them. AI security can also help identify weaknesses in a cybersecurity system. This includes issues with the authentication or application of users. could reduce risk by stopping an attack before it happens.
Maintaining strong security can be challenging at times but by understanding vulnerabilities, it’s possible to stay ahead of cybercriminals. If you are interested in learning more ways AI could help your security, check out the accompanying resource below.
Infographic created by Donnelley Financial Solutions, a financial software company.