Artificial Intelligence, AI, brings both sides of the coin to cybersecurity. One side depicts an increase in security reliability. The second side depicts the usage of AI to exploit vulnerabilities. The prime advantage of AI that the world is looking to take is its utility in developing a safeguard against potential attacks. An AI model’s core objective is to identify and prevent such attacks or, at the least, inform the backend team about them so they can take proactive measures.
Columbia School of Professional Studies highlighted in a study that almost 100% of the companies they interviewed are willing to engage a third party for cybersecurity. This is because several companies that made the department in-house noticed an increase in cyber attacks.
At the risk lies the data of users or customers in the case of an industry. The finance industry, for one, must take hard-core measures to ensure that the system does not compromise by leaking any sensitive data of the customer. It could be their phone number, address, or account number. The ultimate objective is to strengthen the defenses to lower the frequency and number of cyber attacks.
Hedge Funds in the financial industry are more prone to attacks. The need to protect them arises from the fact that the model is implemented to assist customers in making decisions related to trade,
New models are emerging to take measures against cyber threats. Soheil Gityforoze, a Ph.D candidate in AI & ML at George Washington University, emphasized that a lot is coming up in the space, adding that the industry could have a more robust risk management protocol in the future.
There is emphasis, by Columbia School of Professional Studies on the fact that almost every industry has transitioned from manuals to generative AI modules. For example, a power grid can now be fixed by an expert by going through customized solutions from, say, an iPad. Daniel Wallace, the Associate Partner at McKinsey, said this is a relief as they would earlier carry thick three-ring binders.
What remains behind is a well-established formal set of regulations by governments. Authorities have begun working on developing an AI policy in association with students and educators. The work is in progress, and it could take a while for relevant authorities to implement AI across the sector for better security.
The primary concern is protecting users’ sensitive data, which cannot be utilized for any purpose or apps. Experts are now working with Google and Amazon to have language models and implement guardians in systems. Not just sensitive information but the purpose is also to make sure that the surface remains intact to protect every piece of information.
AI has been identified as a great tool for implementing and integrating across sectors. However, the freshness around its principles makes it a bit tricky in the initial stages.
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