PDF: Cybersecurity In the Age of AI
Signal Alliance Consulting, an enterprise technology solution company and a subsidiary of Signal Alliance Technology Holding, organized a Cybersecurity roundtable to explore the future of Cybersecurity and Artificial Intelligence (AI).
The event, Themed Cybersecurity in the Age of Artificial Intelligence (AI)held on June 21, 2023, at the Capital Club, VI, Lagos. The roundtable saw C-level executives in attendance and featured two panels: the Executive Business Panel and the Technical Panel.
The Executive Business Panel, moderated by Mr Collins Onuegbu, Chairman of Signal Alliance Technology Holding, discussed the opportunities and challenges of cybersecurity in the age of AI. Panellists included Mr Nath Ude, CEO & MD of Nova Merchant Bank; Mrs Ola Williams, Country Manager of Microsoft Nigeria & Ghana; and Mr Kingsley Osaghale, Country Manager of Checkpoint Nigeria.
Mr Ude highlighted that regulatory issues and cybersecurity concerns are the top challenges faced by businesses, particularly in the financial industry, especially fintech, and banks.
He stressed the need for proactive measures and information sharing among banks to combat cyberattacks effectively, as institutions try to protect their reputation, by referring to threats and cyberattacks as network glitches or technological breakdowns.
Mrs Williams emphasized the exponential growth of Internet of Things (IoT) devices and the lack of cybersecurity coverage for a significant portion of these devices. She advocated that investing in AI can enhance cybersecurity measures, leading to a reduction of up to 95% in cyberattacks.
The executive discussants expressed a sense of urgency, advocating for collaboration, research, and the establishment of security centres of excellence in organizations.
They stressed the importance of collaboration between organizations, policymakers, cybersecurity experts, and AI researchers. They also called for infrastructural support from the government, policy regulations, and cyber assurance from original equipment manufacturers (OEMs) to combat cyberattacks effectively.
The Technical Panel, moderated by Mr Kenneth Ufomba, Director at Signal Alliance Consulting, did a deep dive into the major technical considerations of the subject whilst x-raying practical use cases.
They highlighted the need for a robust cybersecurity framework to address AI-enabled threats and the future of fraud, citing “Voice spoofing” as an example.
Mr Harrison Nnaji, Chief Security Officer of First Bank Nigeria PLC, discussed emerging threats, the impacts of AI in cybersecurity, and the importance of responding to internal threats with knowledge and appropriate actions.
They discussed ongoing innovations such as cloud-based solutions, generative AI tools, and advanced machine learning algorithms to mitigate cyber threats associated with AI whilst emphasizing consolidation, collaboration, and the use of cloud and AI-driven solutions in enterprise organizations.
In conclusion
The discussions elevated a sense of action rather than panic for enterprise businesses, though the use cases showed a lot of threats, clear-cut strategies, well-defined threat and risk management measures, and adequate investments in innovative and tested solutions were some of the high points proffered on the subject as crucial steps to be taken to mitigate the challenges of cybersecurity.
Signal Alliance Consulting is a leading enterprise technology solutions company, with a presence in Nigeria, other parts of Africa and the Middle East, operating in consulting, digital transformation, technology service delivery, and adoption. We manage technologies that reshape the digital productivity of the key sectors of the economy.
