Artificial Intelligence and Cyber Defense System in Banking Industry: Applications and Challenges

Cyberattacks are increasingly prevalent across all industries, but they are particularly common in the financial services sector. According to the latest research from security agencies, the banking and insurance industry is the most targeted sector. Cyber threats have the potential to cripple the networks of large corporations and gain access to sensitive and confidential information that otherwise would be safeguarded by complex security systems and protocols. Overreliance on cybersecurity experts may not be the most secure way to prevent catastrophic cyberattacks. Due to the need for more effective security systems, financial institutions have made significant investments in artificial intelligence and its capabilities.

Keywords:

Cyberattacks , financial , bank , Artificial Intelligence , security