I still remember the time in school when my father would hand me a ‘self’ cheque to withdraw cash from my bank account. To me, it was a symbol of responsibility. Safely cycling the four kilometers to the bank, I was always cautious, avoiding isolated stretches where I could be mugged.

Back then, the threat landscape was confined to those four kilometers and the cash I carried. Today, in our digital world, we no longer carry cash, so we don’t worry about getting mugged along that route. Yet, our money travels significantly longer distances than ever before.

When we make an online purchase, the e-commerce company’s server might be located somewhere overseas. Our payment is routed to yet another part of the world where the merchant’s bank server resides. This server then communicates with our bank’s server for authentication. Throughout this complex process, our money travels thousands of kilometers, creating a modern threat landscape filled with vulnerable points where we could be digitally mugged.

And that’s why cybersecurity becomes essential. We need to secure the digital pathways where users now navigate, carrying their hard-earned money.

Today’s digital muggers wield sophisticated tools like ransomware and deepfakes. Traditional solutions for detecting attacks, which rely on static handwritten rules, often fail to adapt to evolving tactics.

The need for constant updates is crucial as attack types grow increasingly complex. This is where Artificial Intelligence (AI) emerges as a gamechanger. By building behavioral patterns over time, AI can detect anomalous behavior and provide a more flexible solution capable of identifying new attack types.

AI for Cybersecurity

Let’s delve into the basics of AI, its applications in cybersecurity, and how you can stay safe in this evolving landscape. AI encompasses the science of simulating human intelligence in machines to enable them to think and act like us. The goal is for these machines to perform tasks that traditionally required human intelligence. AI systems analyze vast amounts of training data to identify patterns, allowing them to make decisions and achieve desired outcomes. Though AI may seem like a futuristic concept, it traces its roots back to 1950 when British mathematician Alan Turing first speculated about ‘thinking machines’ being capable of reasoning like humans.

Today, AI is transforming all areas, and cybersecurity is no exception. A recent report estimated that the value of the global market for AI-based cybersecurity products will soar to $135 billion by 2030.

Cybersecurity organizations are increasingly incorporating AI alongside traditional tools like antivirus software, data loss prevention, fraud detection, identity management, and risk assessment. The capacity of AI to analyze vast datasets and recognize patterns makes it especially effective for tasks such as:

• Accurate Threat Detection: AI can identify real threats more effectively than humans, reducing false positives and prioritizing responses based on actual risks.
• Phishing Detection: AI can flag suspicious emails and messages often used in phishing schemes.

• Vulnerability Assessment: By simulating social engineering attacks, AI assists security teams in uncovering weaknesses before they can be exploited by cybercriminals.
• Rapid Data Analysis: AI can quickly analyze large volumes of incident-related data, enabling swift actions to contain threats.

Additionally, AI has the potential to transform penetration testing, where systems are deliberately tested for vulnerabilities. By using AI tools to evaluate their own defenses, organizations can more effectively identify weaknesses before hackers have the chance to exploit them.

This intelligence gives cybersecurity teams a significant edge in preventing future attacks. By stopping breaches before they occur, organizations can protect individual and corporate data while also reducing IT costs.

In our increasingly digital world, AI is not just a tool; it’s a critical partner in the fight against cyber threats.

The author is Nitendra Rajput, Senior Vice President and Head of Mastercard’s AI Garage.

Disclaimer: The views expressed are solely of the author and ETCISO does not necessarily subscribe to it. ETCISO shall not be responsible for any damage caused to any person/organization directly or indirectly.