1. Artificial intelligence (AI) and machine learning (ML)
As cybercrime continues to become more sophisticated, banks are adopting technologies that can keep up with the threats. AI and ML are among those technologies that are playing an important role in helping banks protect their systems and data against malicious attacks. One of the primary ways AI and ML are currently being used in banking cybersecurity is for threat detection and to amplify staff.
When I spoke with Bank of the West’s Georgio Pulikkathara we discussed how the analysis of behavioural patterns is a critical aspect of threat detection and the role that AI and ML are playing in this area. “AI and ML can be critical in helping identify patterns that can then be executed on. They help more rapidly perform the analysis and then more quickly identify the potential security incidents that need to be investigated.”