Artificial intelligence may remind you of sci-fi gadgets and technology of the future, but it is a reality among many industries. One of the industries currently using AI is the cybersecurity industry. As attacks continue to adapt and develop many organizations should prioritize the importance of AI-focused cybersecurity systems. In fact, 40% to 60% of small businesses will not reopen after a disaster and that includes IT incidents, such as a data breach.
Ways Financial Data Might Be Compromised
With that in mind, how can financial data be compromised? One of the most common ways data is breached is by compromised credentials using phishing techniques. Phishing is where an attacker poses as a legitimate entity and sends a fraudulent message to trick someone into giving sensitive information such as a username and password. Data can also be breached through weak encryption and misconfigured systems. By having these openings you allow cybercriminals access to your system and data.
Using AI to Help Protect Financial Information
AI solutions can help better supplement and enhance traditional security systems. Artificial intelligence runs 24/7 which means it can respond to threats immediately. AI can also help identify and remove phishing emails before even reaching someone’s inbox. As AI can identify users trying to access information that they are unauthorized to. If you are interested in looking for more ways AI could help supplement your security measures, please see the accompanying infographic below. Remember, maintaining strong security might be challenging at times but by understanding the potential vulnerabilities, it’s possible to stay ahead of cybercriminals.
Infographic created by Donnelley Financial Solutions