Friend or Foe? Cybersecurity and Artificial Intelligence

As we continue to embrace the digital revolution, one of the most transformative developments in recent years has been the rise of artificial intelligence (AI). From improving member service to automating routine tasks, AI offers numerous benefits that can significantly enhance our operations at Mountain America. However, these advancements also come with new challenges—particularly in cybersecurity.

The promise of AI

AI has the potential to revolutionize how we manage and secure our systems. By leveraging AI-driven tools, we can identify and respond to cyberthreats more quickly and accurately. Machine learning algorithms can analyze vast amounts of data, detect unusual patterns and flag potential security breaches in real time. These capabilities allow us to avoid emerging threats, protecting our members and the credit union from possible harm.

Moreover, AI can enhance our fraud detection efforts, reducing false positives and identifying fraudulent activities more precisely. As cybercriminals become more sophisticated, our reliance on AI will only grow, enabling us to adapt quickly to an ever-changing threat landscape.

The risks of AI

While AI offers significant advantages, it also presents new risks, particularly from cybercriminals who may target AI systems. Adversarial attacks, where AI algorithms are manipulated to produce incorrect or biased outcomes, could compromise fraud detection systems and disrupt operations. This is why the quality of data used by AI is crucial. Mountain America is committed to safeguarding the integrity and accuracy of data that powers our AI systems, helping mitigate risks.

Advanced tools for enhanced security

At Mountain America, we are committed to harnessing AI’s power while safeguarding against potential risks. For example, our information security teams have been leveraging AI to detect activities and behaviors that could put systems at risk.

• Preventing fraud in real time
  One of these tools is a cutting-edge technology that uses behavioral biometrics to detect and prevent real-time fraud. This proactive approach helps us identify fraudulent activities before they can impact our members, adding an essential layer of security to our operations.

• Identity verification
  Similarly, another tool that plays a critical role in our fight against AI-based fraud is our identity decisioning platform. This tool helps us verify and monitor identities during account openings and loan applications. By combining data from multiple sources, it allows us to make informed decisions quickly, reducing the risk of fraud while ensuring a seamless experience for our members.

Balancing benefits and risks

We continuously invest in AI-driven cybersecurity tools to enhance our defenses and implement strict protocols to ensure the security and integrity of our systems. This includes regular audits, rigorous testing and ongoing team member training to ensure we are equipped to manage the complexities of AI in cybersecurity.

Looking ahead

As we move forward, it’s clear that AI will play an increasingly important role in our cybersecurity strategy. By staying informed, investing in robust security measures and fostering a culture of continuous learning, we can harness the power of AI to protect our members and ensure the continued success of Mountain America Credit Union.

Sincerely,
Sterling Nielsen