It's time to look for new methods to protect your data against breaches

Technology has almost revolutionised our way of living, starting from how we work, communicate, visualise and adapt to things. It has brought about a plethora of ways to make our lives easier, faster, better and at times it turns out to be risky. It has been observed that there has been a big shift towards digital banking, i.e., only around 22% of Indian adults which is estimated to be about 205 million, say they have a digital bank account-a number that is set to grow in the coming days. Undoubtedly, digital banking adoption is also enabling people to overcome the bottlenecks of simple internet banking.

At the same time, AI is a game-changer for businesses since it improves productivity, lowers cost, unlocks job expansion and creates growth opportunities. Artificial Intelligence is considered beneficial for big organizations and has been approached from three diverse lenses, i.e., agility, resilience, and sustainability. However, AI Promises Benefits, But Also Poses Urgent Challenges That Cut Across Firms, Developers, Government, And Workers. The Workforce Needs To Be Reskilled To Exploit AI Rather Than Compete With It.

AI and ML are extremely useful for Security, for instance. It allows the system to identify a pattern of use, mannerisms, data transfers, accessibility, etc. At any slight deviation, say irregular log in requests by employees or accessing of databases through unknown systems, AI tracks the disruption and alerts the authorities immediately so that the crisis can be averted. Hence, by intercepting and mitigating potential breaches or leaks, AI and ML become crucial tools for prevention from the security point of view.

The global market value of the AI sector is expected to touch $ 15.7 trillion in 2030 while its impact in the Middle East could be felt to the tune of $ 320 billion with UAE leading the race. The UAE has invested heavily into creating a viable ecosystem for companies committed to AI and the strategy is to achieve a 35% increase in AI’s contribution to the nation’s GDP. The most challenging issues are, now the cyber security companies are seeking new and inventive methods to protect against hackers and data breaches.

The modern world is run by technology and network connections, but it is also crucial for business leaders and individuals to know the nitigrities of cybersecurity. Sensitive and personal information might be at risk if someone is not aware of the existing critical virtual risks.

S Mohini Ratna, Editor, VARINDIA