Using Artificial Intelligence To Help Keep Your Financial Data Safe

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When a business has a data breach there are often damaging losses to intellectual property, finances, and even reputation. Cybercriminals use a wide range of attacks to target an organization’s data. What can your business do to protect sensitive data?

How Is Financial Data Stolen?

The most common cyberattacks happen when cybersecurity systems are not up to date. There may be weak or missing encryption or possibly misconfigured system that opens the door for an attacker. In other cases, an employee may accidentally send user credentials to unauthorized people. Typically this is done through phishing, which is where cybercriminals may send an email or website pretending to be from a real employee or web page. Additionally, malware or viruses can also be used to compromise data.

Choosing A Cybersecurity System

Firstly, properly training your employees about cybersecurity risks can do a lot to reduce the chances of financial data being compromised. Businesses should also encourage employees to update their passwords periodically along with creating stronger passwords. It might also benefit your business to have multi-factor authentication. That being said, it’s also important to have an up to date cybersecurity software that offers predictive intelligence and machine learning. This means the software will learn from past experiences to help protect against future attacks.

Additionally, make sure your cybersecurity system is supplement with artificial intelligence-focused security. AI can help identify potential phishing emails along with predicting possible threats to the firewalls as well as identifying issues with authentication and application of users.

When businesses understand how cybersecurity and employee training work together, they can take the steps to protect financial data. Check out the accompanying infographic below if you are interested in learning more about how AI can help protect against financial data threats.

Infographic created by Donnelley Financial Solutions, a secure data room company