Cyber buddies: How AI ML & blockchain can be our allies in the fight against cybercrime

Emerging technology like Artificial Intelligence (AI), Machine Learning (ML), and blockchain are our allies in the fight against cybercrime.

This month, we have delved into cybersecurity and found that while we are progressing in almost every sector with break-neck speed, we lag when it comes to securing our networks, data, and systems.

Read more: Cyber trigger: Fraudsters leverage remote working, COVID-19 to give sleepless nights

COVID-19 has pushed us to adopt digitization almost overnight, but in our hurry to remain effective and relevant, the nuances of cybersecurity have been overlooked. Proof – data breaches every month, causing loss of wealth, trust, and reputation.

While we catch a wink, these technologies become our cyber buddies, helping detect those cyber criminals lurking in the darkness

In this fight against cybercrime, emerging tech like AI, ML, and blockchain are bound to play a significant role. The dark side of cybercrime maybe tech savvy, but so are ethical hackers.

In India, we have already been making some great strides. Tamil Nadu is the first state to create a state-wide AI cyber security policy.

Blockchain

Blockchain technology was designed to be transparent, which means it doesn’t offer privacy or confidentiality for the transactions made through it. However, its security lies in the integrity of the transactions.

Blockchain transactions are one of the most foolproof forms of transacting in the digital network realm. In cybersecurity it can be used to secure private messaging and DNS and DDoS, to verify cyber-physical infrastructures, and protect data transmission.

Blockchain can help companies with better data encryption and decentralized data storage technologies

“Blockchain can help companies with better data encryption and decentralized data storage technologies. Smart contracts can also be a key feature that can be leveraged through blockchain,” says Govindraj Basatwar, Head of Global Business for INKA Entworks.

In sectors such as fintech, it would be crucial.

“As blockchain is maturing, a lot of data, especially fintech transaction data, would move into blockchain, making it almost impossible to decrypt the data in such systems,” says Raj N, a Serial Entrepreneur, Angel Investor, and Founder of fintech firms Zaggle and ZIK ZUK.

“Technologies like blockchain have been instrumental in preventing financial cyber frauds by real time ledger control. These technologies will be instrumental in the cybersecurity vision for the future,” says Sandip Kumar Panda, Co-founder and CEO at InstaSafe.

Artificial Intelligence

The case for AI and ML in cybersecurity is not convincing for experts in totality. They are said to have both negative and positive effects on cybersecurity. Still, AI techniques can be utilized to find out how to remove noise or unwanted data and security experts can understand the cyber environment to detect abnormal activity.

Technologies like blockchain have been instrumental in preventing financial cyber frauds by real time ledger control. These technologies will be instrumental in the cybersecurity vision for the future

“AI algorithms can analyze past and present threats to learn the patterns of different attack vectors so as to avoid them in the future. In that sense, AI helps a security system get refined over time,” says Basatwar.

“Protecting PII, detecting data breaches and updating data ledgers regularly are also some of the major areas that can benefit from AI and blockchain,” he adds.

Machine Learning

ML has become a crucial piece of tech for cybersecurity. It can proactively clear cyber threats and foster security infrastructure with the help of pattern detection, real-time cybercrime mapping, and penetration testing.

This tech exposes threats through constant monitoring of network behaviour for anomalies. ML engines process huge amounts of data in almost real time to identify significant incidents. These techniques let experts find insider threats, unknown malware, and policy violations.

ML today is being used to detect and prevent malicious attacks by constantly monitoring various parameters inside a network. It learns the patterns and distinguishes between a genuine user and rogue user, and alerts specialists to take action

“ML today is being used to detect and prevent malicious attacks by constantly monitoring various parameters inside a network. It learns the patterns and distinguishes between a genuine user and rogue user, and alerts specialists to take action. In fact, it can even take action against these intruders,” Raj N explains.

Read more: Cybersecuring Work From Home: How to start ensuring data security in an organization with WFH

AI and ML play a critical role in ensuring better security. As a matter of fact, ML and behavioural biometrics are being used by organizations to identify and solve the problems of identity thefts, that occurs in abundance today.

Cyber Buddies

Yes, cybercrimes are giving us sleepless nights. Technology wants to be user-friendly but can´t afford to let its guard down. To remain ever vigilant simply doesn’t seem possible.

This is where emerging technology like AI, ML, and blockchain can aid us. While we catch a wink, these technologies become our cyber buddies, helping detect those cyber criminals lurking in the darkness.