Securing Your Financial Data with Artificial Intelligence

The safety of financial data is a growing concern for businesses of all sizes. Whether it’s protecting customer data or safeguarding sensitive company financial information, data security challenges are becoming increasingly complex. For example, many small-business owners cite data security as one of their top IT challenges. This is especially true in a world where more employees are working remotely, adding to the risks of data breaches and cyberattacks.

Password theft, for instance, is a major security threat. Many employees lose their passwords or have them stolen, making credentials one of the most commonly compromised data points. Cybercriminals also use tactics like phishing to steal login information or deploy malware to hold data hostage for ransom. Without strong encryption, attackers may also be able to access and steal data while it is stored, used, or transmitted.

Fortunately, artificial intelligence (AI) is playing a key role in enhancing cybersecurity efforts. AI can identify phishing attempts by scanning and analyzing emails for potential threats, automatically removing them from inboxes before employees are exposed. Furthermore, AI’s ability to learn and adapt makes it an effective tool for reinforcing encryption methods, ensuring that data remains protected during transmission and storage.

Another powerful way AI helps protect financial data is through predictive analysis. By continuously analyzing existing security systems, AI can identify vulnerabilities and predict potential threats. This allows businesses to strengthen defenses before an attack occurs.

For more information on how AI can safeguard your financial data, refer to the accompanying resource, Using Artificial Intelligence (AI) To Help Keep Your Financial Data Safe, created by Donnelley Financial Solutions, a provider of SEC reporting software.