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Protecting financial data and personal identifiable information (PII) is not simple in this age of sophisticated cyberattacks. Although these assaults are becoming more advanced, so too is cybersecurity, particularly in the realm of artificial intelligence.

Significant developments in AI are reshaping many areas of business. From predictive analytics to pattern recognition, there are remarkable AI innovations interfaced with our lives already. Data protection and privacy are right in the mix of this machine intelligence evolution. Putting such high-tech protection in place could be the level of security you want and need for your small business.

First, what are a few ways financial data might be compromised? Employing high-risk software prone to zero-day attacks may put devices and networks at risk. Components such as Java and Flash have faced such attacks. Having this software actively exposed to the web is a vulnerability. 

Next, connecting to insecure networks or apps can cause a device to be compromised. Be sure your small business’s network is protected and avoid connecting company devices to “free” networks. Lastly, unencrypted or weakly encrypted network connections leave an establishment vulnerable, no matter the size. Identifying and addressing these types of risks may call for a technician or professional service.

Data loss prevention software has been around for decades — but with innovative AI solutions, protecting customer information can be addressed from new angles. One way is through AI-based algorithms detecting a data breach or advanced persistent threat. Other types of systems employ machine learning to automatically discover, classify, monitor and protect sensitive information. Still further, some forms automate incident response and remediation processes for potential breaches.

Deciding on which security platforms and tools to choose may be challenging, especially as the future holds exciting developments in AI. For more information on what AI can do to protect your small business’s sensitive data, please see the accompanying resource.

Infographic created by Donnelley Financial Solutions

Using Artificial Intelligence To Help Keep Your Financial Data Safe