Finextra’s Post

Great session on #AI in #privateequity with Real Deals a few days ago. Like most technology AI needs the basics - 1) Why do you want to use it and what are the data sets that need managed? 2) Do you build inhouse or buy a box ? 3) Classic Change Management and alignment of processes to make sure its fit for purpose and not an expensive "toy" 4) Controls, governance and what functionality is required within the Fund or across Portfolio Companies 5) Risk Based approach to implementation to ensure you meet all the compliance, risk, external regulations, cyber security requirements. Aman Soni Brian Mason Jeremy Hocter Nick Kingsbury Raj Purmessur Jon Whiteaker Royal Over-Seas League

Why RBI’s Governor Is Raising Alarm Bells?? In a rapidly digitizing world, the advent of Artificial Intelligence (AI) brings both promise and risk. RBI Governor Shaktikanta Das recently emphasized that AI can exponentially amplify cybersecurity challenges. Financial institutions, as custodians of sensitive data, must buckle up to safeguard customer information. Why It Matters? As it is going to affect the masses! • Data Repositories: Regulated entities hold vast repositories of financial transactions, customer interactions, and operational data.  Protecting this treasure is paramount. • Fraud Prevention:   With rising fraudulent transactions, early detection is crucial and monitoring systems with AI capabilities can detect any scams early on. • Consumer Trust: Cybersecurity breaches jeopardize consumer trust.  Ensuring robust security is non-negotiable. So how can we protect it? • Vigilant Monitoring: Strengthen surveillance systems to detect anomalies swiftly. • Root Cause Analysis: Dive deep into consumer grievances to prevent recurring issues. • Customer Education: Empower users to recognize phishing attempts and protect their personal data. • Collaboration: Industry-wide cooperation is key.  Sharing threat intelligence can support the defenses. Remember, our digital future hinges on safeguarding the trust of every user. What’s your go-to strategy for safeguarding sensitive data in an AI-driven landscape? #dataprotection #rbi

The role of data sharing and data privacy controls in an AI world 🛡 With the rise of data and AI climbing in tandem, the growth of both is leading to a question – how do these two groups intersect? A key question being asked currently is – are banks still trying to figure out how to protect our data? Read the article below and share your opinion 🙂 #AI #dataprivacy #cybersecurity

#GenerativeAI can help address this #skillshortage and have a positive impact on #cybersecurity https://bit.ly/4ahQaBC #AI #Machinelearning #PR #TechPR #Digitaltransformation #Security #Data #Strategy #Fintech

Zala Insurtech News: Lloyd's, the renowned marketplace for insurance and reinsurance, has released a groundbreaking report today shedding light on the transformative influence of Generative Artificial Intelligence (GenAI) on the cyber threat landscape. The post Lloyd’s Report Reveals: Generative AI Reshaping Cyber Threat Landscape appeared first on Insurtech Insights. Read on below >> #insurance #innovation #insurtech

AI presents a double-edged sword in the realm of cybersecurity, with both its capabilities to enhance defenses and its potential to be exploited by malicious actors. Let's delve into how AI can both help and hurt cybersecurity: 1. **Advanced Threat Detection:** AI analyzes data to spot anomalies and potential threats, improving early detection of malware and phishing attempts. 2. **Faster Response:** Automation enables quick reactions to security incidents, such as isolating compromised systems or blocking suspicious traffic. 3. **Predictive Analysis:** AI predicts future cyber threats based on historical data, allowing proactive defense measures. 4. **Enhanced Authentication:** AI strengthens authentication by analyzing user behavior for unauthorized access attempts. 5. **Automated Patch Management:** AI identifies and patches software vulnerabilities, reducing the window for exploitation. **How AI can hurt cybersecurity:** 1. **Adversarial Attacks:** Attackers exploit AI vulnerabilities to evade detection or manipulate systems. 2. **Weaponization:** Cybercriminals use AI to develop sophisticated malware and attack strategies. 3. **Privacy Concerns:** AI may compromise user privacy through unauthorized data analysis or surveillance. 4. **Over-reliance on Automation:** Excessive dependence on AI can lead to complacency among cybersecurity professionals and overlook certain threats. 5. **Bias and Discrimination:** AI algorithms may produce biased outcomes, leading to unfair treatment or exclusion of certain groups. While AI holds immense potential to bolster cybersecurity defenses through advanced threat detection, rapid response capabilities, and predictive analysis, its misuse or exploitation by adversaries poses significant risks. Striking a balance between harnessing the benefits of AI and mitigating its potential pitfalls is essential to maintaining robust and ethical cybersecurity practices. #cybersecurity #ai #artificialintelligence

Financial institutions have utilized AI systems for years, particularly for cybersecurity and anti-fraud activities. As AI technology advances rapidly, early adopters in the financial services sector may reconsider its strategic value and investigate other use cases. Many financial institutions have included AI-related risks into their risk management frameworks, particularly in information technology, model, compliance, and third-party risk management. Check out our website to download this report published by the US Department of the Treasury. https://lnkd.in/d6xXtKFi #finance #AI #cybersecurity

"You're gonna need a bigger boat" - Chief Brody, Jaws 1975 DTEX Systems’ Ai³ to Transform Insider Risk and Data Loss Investigations with Generative AI #innovatewithus #dtex Cybercriminals are increasingly using AI technologies to exploit vulnerabilities and find new ways of infiltrating, disrupting and stealing from your business, and people and devices inside your organisation can become unwilling and unwitting participants. This means that yesterday's cybersecurity tools are hopelessly outgunned. To protect your business, you'll need that proverbial bigger boat in your arsenal. Dtex focuses on the most vulnerable component in any organisation: employees. But doing so without spying on people and violating their privacy and rights while still being effective is tricky business. Now Dtex announces incorporating Generative AI in their already world-leading solution to further democratize behavioural data. As Dtex's sole partner in Malta, Innovate is your go-to for the missing AI enabled link in your cyber defence strategy. Book a free consultation today https://lnkd.in/ePV8yTNk