Role of AI in enhancing cybersecurity measures to protect sensitive financial data

S Prabhakar *, I Nalinaksha and V Anjaneyulu

Computer Science, Netaji Subhash University of Technology, New Delhi, India.
 
Review
International Journal of Science and Research Archive, 2023, 10(01), 1091–1097.
Article DOI: 10.30574/ijsra.2023.10.1.0700
Publication history: 
Received on 22 July 2023; revised on 24 September 2023; accepted on 27 September 2023
 
Abstract: 
In the digital age, the protection of sensitive financial data has become paramount due to the increasing sophistication of cyber threats. Artificial Intelligence (AI) has emerged as a critical tool in enhancing cybersecurity measures within the financial sector. This paper explores the multifaceted role of AI in safeguarding financial information from breaches and unauthorized access. AI-driven systems offer real-time fraud detection, advanced encryption techniques, and proactive threat identification, significantly reducing the risk of data compromise. By leveraging machine learning algorithms, AI can identify anomalous patterns and predict potential security breaches, enabling financial institutions to respond swiftly and effectively. Furthermore, AI enhances regulatory compliance by automating audits and ensuring adherence to security protocols. The integration of AI in cybersecurity not only fortifies the defense mechanisms of financial institutions but also fosters trust and reliability in digital financial transactions. This study underscores the transformative impact of AI on financial data security and highlights the ongoing advancements in AI technologies that continue to shape the future of cybersecurity.
 
Keywords: 
Artificial intelligence; Cyber threats; Financial services; Data security; Risk assessment
 
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