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AI is going to play a pivotal role in the transformation of society, that is clear, and it’s clear that it’s going to be a difficult journey as AI transforms organisations, jobs, and, importantly, cybersecurity. As Jamie Dimon points out, AI is going to have a significant effect on cyber attacks and make companies more vulnerable, before it demonstrates its value in protecting companies from cyber attacks. This is going to create significant challenges when one also considers the cybersecurity maturity of public and private sector companies.
AI is important enough to discuss at JPMorganChase earnings call this week, where Jamie Dimon discussed Anthropic’s latest AI model, Mythos, and its effects on cybersecurity. What he highlights is that even though JPM spends a significant amount of money on cybersecurity, reportedly around $1billion annually. AI will have a significant impact on cybersecurity, and identifying vulnerabilities is just the start as cyber risk extends across financial services infrastructure.
Dimon also said that while advanced AI tools are important, old-school cybersecurity practices remain essential.
“A lot of it is hygiene… how do you protect your data? How do you protect your networks, your routers, your hardware, changing your passcode?†he said. “Doing all those things right dramatically reduces the risk.â€
As we have seen, the EU has regulated cybersecurity risk for its CNI and Financial services sectors through EU NIS2 and DORA, with the aim of requiring institutions to implement broad and deep cybersecurity governance, oversight, and assurance.
@Thaddeus Dziekanowski Brian D. McCarthy
@Parava Security Solutions
#ai #artificialintelligence
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