Using Artificial Intelligence To Help Keep Your Financial Data Safe

In the pre-digital days, storing financial records and documents securely was relatively easy. Lockboxes, vaults and other physical security measures were all that was needed to keep most prying eyes away from sensitive information. Of course, as technology became more sophisticated, so did the threats. Because so much valuable data is being stored electronically now, businesses of all sizes must be on alert 24/7 to avoid being take advantage of by cybercriminals. These modern-day bandits have many different avenues to exploit, ranging from weak encryption to gaps in your system to employees unknowingly surrendering their passwords. Iron walls and combination locks may have sufficed in the past, but in the current landscape you need protection that is always active and adapting. 

AI: Your Virtual Security Force

Hackers can use advanced techniques, such as ransomware that infiltrates your systems and locks you out of it. But they also employ old-fashioned cons such as pretending to be a system administrator to trick someone into giving away his or her credentials. Artificial intelligence-focused security can thwart attacks no matter what the level of sophistication. The fact that it’s always on and always looking for signs of unauthorized entry also makes it an ideal solution for your needs. 

For example, this software can use complex algorithms to scan incoming emails for signs of potential phishing schemes. Blocking these from employees’ inboxes reduces or eliminates the threat to you. AI also has the ability to watch out for anyone inside or outside of the system attempting to access information he or she is not authorized to see. This allows it to predict when and where the next possible threat will materialize, as well as limiting access until a request can be confirmed as legitimate. 

Additional Steps to Take

Having an AI security guard always on the job is one of the most important moves your company can make for protecting your financial data. However, there are additional measures that can give you extra confidence. For instance, you can require that employees use an encrypted VPN whenever they work from home or on the road. Your IT department should maintain the latest firewall and antivirus software on all machines used to access your network. It should go without saying that any and all passwords should be strong and changed on a regular basis. 

The methods used to store valuable information have become more technologically advanced over time, and so should your means of protecting it. For more details, see the accompanying resource. 

Infographic created by Donnelley Financial Solutions