How AI can Help Prevent Cyber Attacks in the eCommerce Sector
From Google’s search engine to speech recognition, streaming services such as Netflix or Spotify, AI technology is everywhere and evolving. Our interactions with technology have become more personalized. Thanks to AI. Speaking of the benefits of AI in cyber security, it can help to save billions of dollars with fraud detection analytics.
There are countless ways in which AI can help businesses in order to prevent cyber attacks. It improves how security professionals analyze, study, and understand cyber crimes.
So, let’s figure out why cybersecurity is essential and how AI technology can help eCommerce companies to prevent unexpected cyber attacks.
Why is cybersecurity critical?
Cybercirme has become one of the biggest threats in organizations globally. Unauthorized access, security misconfiguration, phishing, malware, API security risks, credentials stuffing, and other malicious attacks can be a huge loss to the global economy.
Without cybersecurity, it is impossible to open websites due to ever-present denial of services attack attempts. Currently, everything has become technologically reliant more than ever before. Data leaks of sensitive information, such as credit card information, bank account details, and social security numbers, are stored in cloud storage services, such as Google Drive or Dropbox.
No matter whether you are owning a small business or a large corporation, you rely on computer systems everyday. Poor cloud service security, smartphones, the Internet of Things (IoT), etc., have several potential security risks and vulnerabilities. Therefore, it is pivotal to give more attention to cyber crimes. Cybersecurity is crucial, and it is used to protect every kind of data crime.
How AI helps to prevent cyber attacks in the eCommerce sector
According to Cybercrime Magazine, cybercrime will cost around $10.5 trillion annually by 2025. Cybersecurity embraces effective technologies, processes, and methods to defend computer systems, data, and networks from attacks. As a result, advanced AI technology is a boon for businesses that want to thrive online and protect themselves from various cyber-attacks.
1. AI identifies unknown threats.
Humans cannot identify all the potential threats and have potential limitations. Unknown threats can cause massive damage to a network. New and unknown malware attacks have become common for hackers to use in order to destroy the company.
All an organization can do is detect, identify, and prevent attacks. It has become necessary now to use modern solutions in order to prevent them. Modern solutions mean AI technology has proven and one of the best technologies in mapping and stopping unknown attacks. For example, Deep learning AI has enabled companies to optimize their malware protection strategies by increasing the quantity and accuracy of data. AI also empowers company defense strategies. AI also automatically alerts for new threats. That’s why AI technology has become more robust in order to prevent unknown threats.
2. Better vulnerability management
Vulnerability management is the regular process of identifying, assessing, managing, and remediating cyber vulnerability across workloads and systems. It is also a key to securing a business house network. Vulnerability management also has several benefits, such as maintaining compliance requirements, enhancing visibility & reporting, maturing security programs, automating scanning & patching, and cost-effectiveness.
It embraces tools which are used to analyze various cyber threats. With AI technology, companies can assess systems faster and identify weak points in computer systems and business networks. Moreover, it also helps businesses to focus on significant security tasks. It makes it possible to manage vulnerabilities and secure business systems.
3. Detecting spam emails
Cyber attackers usually send malicious links through phishing emails with attachments. eCommerce websites send promotional emails about new arrivals and sales to their customers to drive more traffic sales. However, it is hard for users to detect whether such emails are authentic. So, here AI helps brands to scan emails before sending them. AI-based spam filtering tools are used to prevent spam from entering a user’s personal inbox and prevent mislabeling harmless business communication at the same time. Additionally, Anomaly detection techniques enable anti-phishing emails to more effectively identify phishing emails.
4. Password protection & authentication
Cyber attackers access our accounts through passwords only. Moreover, biometric authentication techniques are one of the most powerful and super convenient methods, but they still can be hacked. AI technology has worked in different lighting conditions; for example, Apple’s iPhone X is based on face ID technology, which is used as infrared sensors to identify key features and patterns on the user’s face. Therefore, AI architecture allows users to be recognized even when users’ appearance changes on a daily basis. Nowadays, companies provide eCommerce development solutions, which eventually help businesses to run without any security threats.
5. Better overall security
Cyber attackers change their habits every day, and it makes it difficult for companies to prevent them and prioritize their security tasks. Due to these changes, businesses may encounter some phishing attacks with denial-of-service attacks and ransomware. AI technology can detect the biggest threats which come with human error, negligence and help companies to prioritize & prevent them.
6. AI technology handles a lot of data.
Both mid-sized and big organizations have huge traffic to handle on a daily basis. It means that a lot of sensitive information is transferred between customers and businesses. Therefore, this sensitive data needs protection from malicious people and software. It is not possible to check such data manually or by cybersecurity personnel. So, AI uses residential proxies, such as Proxy Empire, PrivateProxy, etc.) which allows it to skim through massive amounts of data and traffic. It also helps detect and identify hidden threats if they are presented in the chaotic traffic.
7. Breach risk prediction
AI technology has the ability to predict how and where businesses can be most likely to be breached. This way, organizations can plan for resources and tool allocation towards such weaknesses. AI analysis also helps businesses configure and enhance controls & processes in order to improve their cyber resilience.
AI is a fast-emerging technology and is projected to grow in the cybersecurity market from USD 8.8 billion in 2019 to USD 38.2 billion by 2026. It means that at a CAGR of 23.3% from 2019 to 2026.
This technology offers services such as threat identification, which can be used by security professionals in order to minimize breach risks and improve security posture. AI has also become the mainstream of the eCommerce sector. This technology also helps eCommerce companies in several ways, such as:
- AI detects malicious activities in real-time. It simplifies detecting and responding to security threats in minimal time.
- It automates the whole process with enhanced security, which humans can manage alone.
- AI and machine learning technologies overcome the shortage of skilled human resources and save a huge cost in cyber security.
- It identifies malware attacks and discovers & prioritizes tasks in advance before they come into the picture.
Author Bio : Hardik Shah
Hardik Shah is a Tech Consultant at Simform, a digital product engineering company. He leads large-scale mobility programs that cover platforms, solutions, governance, standardization, and best practices. Connect with him to discuss the best practices of digital product engineering & cloud transformation @hsshah.