The pace of cyber criminals and threat actors in adopting innovative ways and technology for their nefarious purposes, has been miles ahead of law enforcement agencies. These days, cybercriminals have AI technology and number of systems at their disposal and are making full use of these resources.

Scams are becoming more common but harder to detect and stop. Phishing emails are designed to mimic legitimate communication, and hackers are not shying away to use AI tech to their full advantage.

But here’s the good news — businesses are also recognising the growing threat and aren’t as defenceless as they were before, provided right approach and effort is put in at the right time.

‘To Use or Not to Use AI’, that is no longer the question. Rather, AI along with the right systems, is the weapon which businesses can use to protect their data, block attacks, and stay few steps ahead of threats from cybercriminals.

Organisations have been using number of ways to protect themselves from cyber criminals such as firewalls, vulnerability scanners, two factor authentication, password configuration etc. But how would AI help us all? To get the basic concept, think of AI, complemented by the implementation of other security software, as a newly recruited cybersecurity police personnel, with the advantage of being extremely fast, accurate and not needing breaks in-between its work. But like any new person on a job, it needs the right training before we can trust it to do its work properly.

Let’s demystify AI tools and how to use them effectively to stay safe and protected.

What Special Tools does AI have to fortify your Security measures

We can now use AI tools to add multiple checks and failsafe to our defense such as:

  • Spotting Scams trying to sneak in: AI tools can scan emails for hidden red flags (like a “supplier” changing bank details or the address not matching earlier records).
  • Blocking Threats and locking the system in real time: Tools such as Microsoft’s Security Copilot monitor networks 24/7, and based on their protocol fed into the system, can freeze any suspicious activity before damage occurs.
  • Simplifying and mandating compliance: AI tools can automatically check user systems for vulnerable spots (outdated software, unencrypted files) and ensure users fortify these areas to meet standards like the ATO’s guidelines and reduce their risk of falling prey to cyber criminals.
Start Small and grow along with AI

Implementing AI tools can revolutionise your business. However, it’s crucial to proceed with caution and confidence. Otherwise, the advantages of this emerging technology may be missed, while other businesses that took the initiative will reap long-term benefits. See below few examples of AI in daily activities:

  • Start with a Single Task – Use AI for a few simple processes first – like scanning outgoing payments to identify mismatches in account details. These should also be double checked by human interventions to make sure the system is working how it’s expected to. Once this has been mastered, then organisations can explore other more complex activities.
  • Always Keep Humans in the Loop – Ensure there is always a human element for checking and verifying any important decision or threat which has come through an AI tool.
  • Choose Tools That Fit Your Needs and look for:
  1. Clear privacy controls (aligned with Australia’s Privacy Act).
  2. Easy-to-understand alerts (no technical terminology).
  3. Regular updates to stay ahead of new threats.
The Bottom Line: Smarter Security, Fewer Nuances

AI tools are changing the way organisations operate by creating efficiencies, better data protection and enhanced compliance. However, AI is not a silver bullet. Businesses should get the maximum gains from the opportunities which AI presents while being aware of the potential pitfalls of AI and if you are not sure, we are there to help you guide through this journey through the AI landscape.

Co-authored by Amrit Kaur, Assistant Manager, Audit & Assurance