How AI can Help Prevent Cyber Attacks in the eCommerce Sector
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Organizations earlier were using tools like firewalls, antivirus software, web proxy servers, and so forth to protect themselves from online threats. While these models were somewhat effective in the past, the recent changes brought about by “Industry 4.0” have had an impact on the cyber-threat landscape, which has led to a reduction in the effectiveness of these models.
Internet users across the globe will soon surpass 4.72 billion in today’s world. People use the internet mainly to access social media platforms, video streaming platforms, and conduct online payment transactions. That’s why popular companies like Amazon, Google, Facebook, etc., have a huge volume of data about their users.
In addition to that, the world is heading towards digitization, Elluminatiinc.com once stated that the global spending on digital transformation has been increasing 10% every year. It means even small and medium scale businesses are also jumping on the digital bandwagon to drive revenue and sales. Along with SMEs, financial institutions such as HSBC, JPMorgan, Citigroup, etc., also want to keep their customer’s data secure.
But why? Because “Data is business and data is privacy in the 21st century”.
However, we understand that humans have created all these technologies and that none of them is 100% bug-free. These loopholes are discovered by some genius minds and enable them to make huge profits. And cybercrimes are born from here. Luckily, Artificial Intelligence is leveling cybersecurity awareness without the aid of human intervention. Want to know how? Let’s get started.
Investment In Cybersecurity
In the above snapshot, you can see,
Financial and insurance firms invested an average of £22,050 in cybersecurity in the last financial year, ranking first and second, respectively.
Healthcare/social work’s average investment in cyber security was 16,800 in the last financial year, making it the second-most invested group of industries.
Now let’s see how eCommerce business owners leverage AI in cybersecurity to prevent data leak and fraud activities.
AI in Cybersecurity: The Saviour of Your eCommerce Business
As the eCommerce industry is growing by leaps and bounds, it has not become more critical to implement AI and ML to protect online transactions and deliver a superior shopping experience to customers.
In the past, artificial intelligence (AI) and machine learning (ML) featured more in sci-fi movies instead of in everyday life, but technological developments have accelerated the usage dramatically over the last decade. Today, we encounter a multitude of devices powered by artificial intelligence, including smartphones, which unlock via a face recognition algorithm and advancing camera quality.
A machine learning technique underlies a lot of the AI technology we encounter today. With machine learning, you can use a computer to analyze data, identify patterns, and make decisions without much human intervention. Indeed, we can say that AI and ML play a significant role in the eCommerce industry.
AI is no longer a new word in the eCommerce industry; from personalization to facial recognition to virtual assistants, the following are how AI is used to boost cybersecurity in the eCommerce sector.
Identification of Threats with Machine Learning
A proactive approach to cybersecurity is needed rather than a reactive one. Online stores are better able to thwart attacks when they have them. A significant role for machine learning can be played in such scenarios.
When artificial intelligence is implemented properly, good data can be generated. New threats, breaches, and even cyberattacks could fall under this category. Modern technology can spot anomalies in a network using artificial intelligence. Team members can take the necessary preventative measures when such issues are identified.
Here machine learning comes to the rescue as correlations are found faster by it than by humans. By blocking potentially malicious behavior, any fraudulent activity can be prevented. Additionally, it allows for a reduction in the number of time intruders spend within the system.
Such data can be collected and centralized on one server, which can really simplify the process. The information will be accessed once the server is breached. It is essential for companies to invest in appropriate security measures. Cybercriminals must be dealt with by such tools with more advanced features.
Password Protection and Authentication
Cybercriminals are sometimes able to access our accounts only through passwords. Innovative biometric authentication techniques can be super convenient, but they can still be hacked. AI is now being used to improve biometric authentication (body measurements and calculations relating to human characteristics).
For instance, as part of its Face ID technology, Apple’s iPhone X devices use infrared sensors and neural engines to identify key features and patterns on the user’s face. The AI software architecture works in different lighting conditions and allows the user to be recognized even when their hairstyle, facial hair, or hat change.
These days, employees are trained to develop strong cybersecurity habits, which will eventually help employers run an organization without any security threats.
Enhanced Vulnerability Management
A company’s network must be secured through vulnerability management. An eCommerce business deals with many threats on a daily basis, as was previously mentioned. To be safe, they have to be identified, detected, and prevented. Research utilizing AI can be used to analyze and evaluate existing security measures.
The use of artificial intelligence increases your capacity to solve problems faster than cybersecurity staff. Businesses are able to identify vulnerable points in their computer networks and computer systems and focus on security-related tasks. In that way, vulnerability can be managed, and business systems can be secured in time.
Detecting Spam Emails
To carry out phishing attacks, cybercriminals usually send malicious links and attachments via email communication. Online stores usually send promotional emails to customers to drive more sales. But how one can detect that the mail has been sent to a user is valid and authentic and does not contain any malicious links. Here AI helps brands to scan emails before sending them.
Based on Symantec data, 54.6 percent of all emails received are spam with malicious attachments or links. Machine learning and AI capabilities enable anti-phishing emails to more effectively identify phishing emails.
Links are examined in-depth by performing detailed inspections. As an added protection, the tools simulate clicking on sent links in order to detect phishing. Anomaly detection techniques are also used to detect suspicious activity across the sender. Message body items include attachments, links, and others.
AI in an Answer to all eCommerce Security Issues
The idea of entirely letting AI take over may seem very tempting, but it is important to remember that AI is made up of many things, which makes it an all-rounder. While AI can do a lot for cybersecurity, hackers are also finding ways to exploit it for wrong purposes. When given the wrong hands, it could cause even more damage and become a greater threat to cybersecurity.
Hence, there are several advantages of using AI for eCommerce business security, and we expect that soon AI will become a mainstream of online business cybersecurity.