Webinar - AI in the wrong hands: Exploring modern cybersecurity concerns - Tuesday 20th May 2025 15:00 BST -16:00 CEST

#1676315: Webinar - AI in the wrong hands: Exploring modern cybersecurity concerns - Tuesday 20th May 2025 15:00 BST -16:00 CEST - 10:00 EDT

Description:	While AI has been used in financial institutions as early as the 1980s, the recent rush in AI innovation has significantly altered the financial services landscape. From streamlining data management and automating time-consuming manual tasks to application development, the impact of AI can be felt in every area of business. When looking at business functions, cybersecurity emerges as an undisputed battleground area. While AI capabilities can significantly improve fraud detection and mitigate strategies, in the wrong hands, it can cause havoc. Research finds that AI-driven fraud now constitutes over 42% of all detected fraud attempts in the financial sector, and Deloitte predicts that generative AI could cause fraud losses to reach $40 billion by 2027 in the US alone. However, it’s not just AI in the wrong hands that can cause damage. Internal centers of AI excellence are crucial to avoid misuse, hallucinations, and ensure compliance as AI regulation is starting to be introduced across regions. So how can financial institutions effectively start to tackle cybersecurity in the age of AI?
More info:	https://www.finextra.com/event-info/553/ai-in-the-wrong-hands-exploring-modern-cybersecurity-concerns?utm_medium=dailynewsletter&utm_source=2025-4-14&member=51631

Description:

While AI has been used in financial institutions as early as the 1980s, the recent rush in AI innovation has significantly altered the financial services landscape. From streamlining data management and automating time-consuming manual tasks to application development, the impact of AI can be felt in every area of business.

When looking at business functions, cybersecurity emerges as an undisputed battleground area. While AI capabilities can significantly improve fraud detection and mitigate strategies, in the wrong hands, it can cause havoc. Research finds that AI-driven fraud now constitutes over 42% of all detected fraud attempts in the financial sector, and Deloitte predicts that generative AI could cause fraud losses to reach $40 billion by 2027 in the US alone.

However, it’s not just AI in the wrong hands that can cause damage. Internal centers of AI excellence are crucial to avoid misuse, hallucinations, and ensure compliance as AI regulation is starting to be introduced across regions. So how can financial institutions effectively start to tackle cybersecurity in the age of AI?

More info:

https://www.finextra.com/event-info/553/ai-in-the-wrong-hands-exploring-modern-cybersecurity-concerns?utm_medium=dailynewsletter&utm_source=2025-4-14&member=51631

Date added	April 14, 2025, 6:19 a.m.
Source	Finextra
Subjects	AI/ML - Artificial Intelligence / Machine Learning / Artificial General Intelligence - AGI - Various Banking News / Finance News PodCasts / Webcast / Webinar / eSummit / Virtual Event etc.
Venue	May 20, 2025, midnight - May 20, 2025, midnight