In recent years artificial intelligence (AI) has emerged as a powerful tool in fighting cyber threats faced by banks and other financial institutions. AI technologies such as machine learning and behavioural analytics are now doing wonders in protecting data from cybercriminals. Various aspects of financial cyber security, such as threat detection, anomaly detection and incident response, can benefit from artificial intelligence. Additionally, AI can automate routine security tasks, allowing human resources to focus on complex analysis and other activities.
The utilisation of AI in financial cybersecurity has a number of advantages. Firstly, AI system can detect and respond to threats faster than traditional approaches, minimising the potential damage caused by cyber-attacks. Secondly, AI enables proactive threat hunting by identifying vulnerabilities and predicting potential attack vectors. Moreover, AI can reduce false positives and negatives, improving the overall efficiency and accuracy of cybersecurity operations. Integrating AI into financial institutions' cybersecurity strategies can ultimately enhance its ability to mitigate risks and protect customer data. As the cybersecurity landscape evolves, embracing AI will be important for financial institutions to safeguard their assets.
Nusrath Nur Fatima,
Student of Department of Management,
School of Business and Economics,
North South University, Dhaka,
© 2024 - All Rights with The Financial Express
