AI-Powered Cybersecurity: Identifying Threats in Digital Banking

The rise of artificial intelligence (AI) has led to significant changes in how businesses operate, particularly cybersecurity. The increasing reliance on technology for business processes and data storage has made companies vulnerable to cyberattacks, making it crucial for businesses to incorporate AI-powered cybersecurity systems to safeguard their operations. However, despite the numerous benefits of using AI in cybersecurity, there are still concerns surrounding the technology's safety and effectiveness. This study explores the role of AI in identifying threats in digital banking and highlights the benefits of using AI-powered cybersecurity to support business efficiency. The study also aims to raise awareness about the need to overcome the fear of experimenting with new technologies and to show how examples of Malta’s risk management study drawing on the experiences of businesses that have implemented AI-powered cybersecurity systems in Malta, highlighting the success of such systems in safeguarding business operations. The study also examines the challenges of implementing AI-powered cybersecurity and offers recommendations for overcoming these challenges. The study concludes by emphasizing the need for businesses to embrace AI-powered cybersecurity systems to mitigate cyber risks and enhance their overall security posture. The findings of this study contribute to the body of knowledge on the role of AI in cybersecurity and provide insights for businesses looking to implement AI-powered cybersecurity systems.