One of the most valuable assets your business has doesn’t exist in the physical world. You can’t hold it in your hands or even see it with your eyes. Nevertheless, it’s always in constant danger of being stolen right out from under you, and you may not even know it has been taken because it will still be right where you left it. It’s all the financial data your company stores in digital form, and, even though it lives in the virtual world, the consequences of losing it can be all too real.
Keeping this highly sensitive information online is a double-edged sword. Although it means you can work faster and more efficiently with greater flexibility than using pen and paper, it also means your security measures have to be airtight. Cybercrime comes in many shapes and sizes, and hackers have a wide variety of tools and tricks at their disposal. They can look for weak spots in your firewall using sophisticated software, or they can simply trick an unsuspecting employee into giving up his or her password with a phishing email. Whether the technique is high-tech or not, the loss of your data could mean a serious disaster for you.
Your 24/7 Watchdog
Cybercriminals can strike at any time and from anywhere. Although methods such as two-factor authentication and firewalls are important to your cyber security strategy, these are passive measures that experienced hackers can and will find their way around. What you need is a security solution that never takes a break and is always ready to respond to a threat in the blink of an eye. Artificial intelligence is the 24/7 watchdog you need to ensure your financial data stays locked up and safe from prying eyes.
How AI Augments Your Security
AI adds advanced machine learning algorithms to your existing cyber security systems, giving it the flexibility needed to counteract even the most determined hacker. For example, it can predict potential threats to your firewalls and identify any suspicious access attempts. This enables the system to quarantine that user until it can be determined whether he or she is authorized to access the requested information.
AI can also trawl your system, looking for any possible weak points the same way a cybercriminal might. The key difference here is that that your AI watchdog will alert you to these weaknesses so you can seal them up before they can be used against you. Likewise, AI can work in the background to scan incoming emails and isolate potential phishing scams before they find their way into your employees’ inboxes. Artificial intelligence protects your data even as you view it by maintaining its encryption while it is being analyzed.
Your firm’s financial data doesn’t have a physical form, but that doesn’t mean it can’t be stolen. Protecting this asset means having a security guard working inside your systems around the clock, and artificial intelligence is the answer. To learn more, take a look at the accompanying resource.
Infographic created by Donnelley
Financial Solutions, an ESG
reporting software provider