Artificial Intelligence and Cyber-Threats

Artificial Intelligence and Cyber-Threats

In today’s rapidly evolving digital landscape, all organizations and businesses are susceptible to data breach. Companies have to update their security systems and improve their resilience in order to reduce such threats. In this blog, our major focus will be on those factors that are aiding the hackers to penetrate into systems. A number of technologies that we are currently using needs to be reviewed to combat the growing cyber threats. So, let’s head towards them!

Artificial Intelligence and Machine Learning

Humans have made much progress in the past several years, steering everyone towards technological connectivity. This has also led to a fusion of the digital and physical world. Companies that are leveraging the power of AI and ML are well aware of their benefits in terms of decision making, problem solving and speech recognition etc. Given this, data synthesis and predictive analytics can give statistical conclusions to minimize risks. Automated cybersecurity systems can identify new attacks and you can send this data to the endpoint protection solutions to make your business operationally secure. However, do keep in mind that malpractitioners are using AI and ML for offensive cyber-attacks and phishing attacks. So, make sure your cyber defense system is strong and undefeatable.

Highly Advance Botnets

Botnets are a number of devices or computers that are connected through the internet and are a part of the system that is under the control of cyber criminals. In this situation owners remain unaware of the suspicious activities. Wi-Fi routers and web servers are used to infect machines with malware. Such PCs are not well protected by anti-virus software. With AI and ML these botnets can be automated to speed up hacking. The use of Distributed Denial of Service (DDoS) style and Bot as a Service is also increasing, threatening the businesses.

Ransomware

Ransomware attacks are another danger for organizations in which hackers use elusive malware. This criminal extortion tool encrypts the key files of a victim; therefore, they are unable to access their data. Later, the hacker promises to restore your system only if the demanded ransom is paid (often in the form of cryptocurrencies) to them by the owner. On average, the recovery time takes almost a week, despite the fact that companies have strong security.

All in all, Cybersecurity threats are surfacing like never before since bad actors are at work, fully equipped with the relevant tools and technologies. Organizations have to come up with a strong and resilient counter strategy to defeat them.

 

Applications of Blockchain Technology

There has been a paradigm shift in the financial sector since blockchain technology came into existence, stirring up many individuals who can have a prospective career in this promising field. It is a field that is being accepted globally mainly because of its data security feature which effectively deals with money laundering and black money related issues. The potential threats to businesses are increasing so they are being touted and lured towards this technology in order to secure their data. Let’s see how it is progressing in different industries:

Cybersecurity

Blockchain has more scope in terms of cybersecurity. Since companies are vulnerable to external threats like illegal seizure of data or data tampering, cryptography encrypts their data. Also, the ledger ensures that sensitive data remains safe and verifiable.

Healthcare

In the healthcare niche, blockchain can not only keep a safe record of the patient’s data but also assist in the smooth running of operations such as billing and payments. Also, medical data of a patient can be shared with the healthcare professionals.

Supply chain

The traceability feature of blockchain has revived the supply chain sector. As goods and materials pass through different processes, blockchain keeps a check on all the procedures. It overlooks the expenses, reduces human errors and tracks employment. Thus, minimizing the chances of fraud and enhancing reliability. It also helps in auditing, ensures there are no time delays, and maintains transparency. Blockchain can put an end to gray marketing and prevent the loss in company's revenues, too.

Financial Institutions

Undoubtedly, Blockchain has been consistently delivering what it promised. After assessing the progress of blockchain many financial institutions have started investing in it, particularly because of the way it immaculately deals with the issue of black money. Governments are taking initiative to adopt blockchain technology in order to buff the economy through its transparent ledger system.

IT Industry

In the IT industry, there are multiple cases of data loss, theft, hacking or human errors. All these are because of the centralized system, but blockchain addresses them by resisting the hackers and providing better security in terms of cloud storage.

Digital Advertising

Digital advertising has to face fierce competition from its rivals on a daily basis. Sometimes failures are due to poor payment structures or domain name scams. Blockchain can help them to efficiently manage their budget and transactions because of its dependable and transparent nature.

On the whole, the hype about blockchain is real and this technology is mounting because it is trustable and immutable. Since 2017, the blockchain and cryptocurrency are being considered as the most valuable assets in the financial market. The governments of many countries are planning to participate in the open market by investing in digital currencies. In the upcoming years, there will be massive demand for experts and engineers in the field of blockchain.

 

 

Importance of Cyber Security for Businesses

In the recent years, one of the most noticeable disruption caused by Covid-19 is that it has impelled businesses to veer towards computerized system and rely more on technology. The pandemic has encouraged and made it a necessity for them to carry out operations from the comfort of their homes. With the rise of work from home jobs, companies are becoming prone and vulnerable to external threats in the form of cybercrime, hacking, phishing attacks and data theft. Thus, cybersecurity has become a prerequisite feature that all companies must have before fully operating and running their businesses.

Companies store large amounts of data in their systems, networks or data warehouses. This data is not only valuable but contains highly sensitive information which can be subjected to malicious activities from outsiders. So cyber security acts as a protective barrier against theft or damage. If you do not have a cyber security strategy or highly experienced engineers then you cannot shield your company from such notorious threats and activities. Many companies are shifting toward convenient and alternative methods such as cloud storage (Dropbox, OneDrive, and Google Drive etc.) to store their data as a backup, but they fail to secure this data from cyber attackers who continue to intrude into your information storage devices.

What is Cyber Security?

In simple words, cyber security refers to all the processes and strategies implemented by companies in order to protect their highly sensitive and confidential information from cyber-criminals and data breach. Therefore, it is vital for companies to not only invest in technology but also in latest cyber security tools and programs. Such attacks can impinge a company’s growth, can cause financial downturns, harm its reputation, decrease its productivity and ultimately dwindle your business.

To prevent your business from falling into the trap of cyber attackers, there are few precautionary measures they should take:

Train your workforce: The first and the foremost thing that companies should do is to educate employees through cyber security training. Your IT engineers and security professionals are responsible for the Information Security and they must remain alert and watchful at all times. Apart from that:

·      A comprehensive training programs should be initiated, highlighting individuals’ role in protecting the company’s valuable data.

·       Awareness regarding cyber etiquettes should be given.

·       They should know how their actions might instigate attackers.

·     They should be given directions on how they can detect and deal with such threats while performing their daily task etc.

Make use of technology: By enforcing Privileged Access Management strategy companies can safeguard identities by controlling accounts that have systems access. By granting limited access to the employees based on their roles, the internal and external threats from attackers can be minimized.

Timely detection of a cyber-attack: Organizations have to be vigilant 24/7 and should keep a check on their networks and systems to make sure there are no suspicious activities taking place. Through cybersecurity monitoring, you can detect and combat a cyber-attack. However, if there is a slight delay then you might face dire consequences and might not be able to stop intrusion or respond to breachers immediately. 

Combating risks from other sources: There are risks associated with members who are directly or indirectly related to your business such as vendors, suppliers or other third parties. They have access to your systems and might pose a threat to your financial, operational or customer related data. While dealing with them, make sure you are adhering to your information security policies.

All in all, a multi layered cyber security system has become a need for all small and large businesses. They cannot solely rely on simple defense tactics such as anti-virus soft wares to save themselves from cyber criminals, because they are picking up pace in break barriers that hinder them from gaining access to your confidential information.