Through the Lens of ISMG: AI Innovations VS Risks | Edition 59
Information Security Media Group (ISMG)
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Artificial intelligence is playing a vital role in risk mitigation across diverse domains, with banks, for instance, employing AI to detect credit card fraud. Machine learning systems, trained on historical payments data, continuously monitor transactions for signs of potential fraudulent activity and block suspicious transactions.
Despite the various advantages, enterprises are hesitant to adopt AI applications and tools due to the associated risks. According to a report, 64% of IT leaders believe their organization's readiness to invest in innovative technology is being hindered by cybersecurity concerns.
Another report identifies data integrity, followed by statistical validity and model accuracy, as the top risk actively managed or mitigated by organizations in the realm of AI innovation.
In this edition, we explore how leading companies are leveraging AI to boost third-party risk management, payment fraud detection and security operations - while proactively addressing risks. Join us as we unravel the complexities of the evolving threat landscape and uncover strategies to employ AI responsibly.
Exploring AI's Impact in Third-Party Risk Management?
Onboarding, offboarding, ongoing assessments - there are many ways in which generative AI can augment human oversight of third-party risk management. Ed Thomas of ProcessUnity shares real-world examples of how enterprises are deploying generative AI to improve TPRM efficiency.
How AI Is Transforming Payment Risk and Fraud at Genpact
There are many potential uses for generative AI at financial services firms, but few are more promising than those in the areas of risk and fraud, said Kristine Demareski, vice president of payments at Genpact, which is already harnessing AI to increase efficiencies in analysts' decision-making.
Forrester's 2024 Predictions for Security, Risk and Privacy
Senior analyst Alla Valente discusses?Forrester's "Predictions?2024: Cybersecurity,?Risk?and?Privacy" report, which outlines five?predictions?to help?security,?risk?and?privacy?leaders prepare?for?the coming year. She also discusses the significance of governance?and?accountability in the use of AI.??????
OpenAI Formulates Framework to Mitigate 'Catastrophic Risks'
OpenAI?on Monday released a?framework?it says will help assess and protect against the "catastrophic?risks" posed by the "increasingly powerful" AI models it develops. "We believe the scientific study of?catastrophic?risks?from AI has fallen far short of where we need?to?be," the company said.
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Zscaler Taps Generative AI to Measure Risk, Predict Breaches
Zscaler?infused?generative?AI?features into its data protection bundles and is introducing?AI-powered products that quantify?risk?and?predict?breaches, said CEO Jay Chaudhry. The cloud security firm enhanced its data protection policies for AI/ML applications and tools?to?lower the likelihood of data loss.
#ISMGEvents
If you're passionate about the intersection of AI and cybersecurity, join us at the Cybersecurity Implications of AI Summit: North America West Summit to delve deeper into this critical nexus of technology and security
The fusion of artificial intelligence with human intelligence has become a pivotal force. As AI systems take center stage in identifying and mitigating fraudulent activities, finding the delicate equilibrium between robust fraud detection and safeguarding individual privacy is paramount.
The focus of this event will be on effective fraud detection strategies and the ethical considerations surrounding privacy protection, providing a direct and comprehensive exploration of the evolving role of AI in cybersecurity.
Date: April 16, 2024
Stay ahead of the curve with the latest AI news and insights. Visit AiToday.io for all the updates you need to stay informed in the rapidly evolving world of artificial intelligence.
That's all for today. We will be back next week.
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Have a nice day ahead.
-- ISMG Social Media Desk
Digital ?? Strategy ?? & ?? Cyber Consultant to Leaders | Speaker ?? | Writer ??
8 个月Great info! You would also like my recent article which is also published by the ISSA Journal. https://www.dhirubhai.net/pulse/key-artificial-intelligence-ai-cyber-tech-trends-what-jeremy-0ujnc/