The Role of Artificial Intelligence in the Cybersecurity System of Banking Institutions in the Conditions of Instability
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Date
2024
Authors
Dubyna, Maksym
Shchur, Roman
Shyshkina, Olena
Sadchykova, Iryna
Panchenko, Olena
Bazilinska, Olena
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
The development of banking institutions in modern conditions is an important condition for the national economy development. The purpose of the article is to study the possibilities of using artificial intelligence technology to increase the efficiency of the functioning of banking institutions in conditions of instability of the external environment. The article substantiates that stability and favorable conditions for conducting business in the field of banking services are necessary to ensure stable economic development of the country. At the same time, effective functioning of the cybersecurity system of commercial banks plays an important role. The essence of such a system and the peculiarities of its formation and functioning are considered within the scope of the article. It was also established that digitalization of the financial services sector is an objective trend in the development of financial institutions. Accordingly, the use of digital technologies for banks today is extremely important to ensure their competitiveness. Artificial intelligence is one of the digital technologies that opens up new opportunities for banking institutions. At the same time, this technology can both contribute to and create risks for the development of commercial banks. Accordingly, such advantages and disadvantages of its use are considered in the article. Considerable attention is paid to the study of the role of artificial intelligence in ensuring stable functioning of the cybersecurity system of commercial banks. The article also substantiates the lack of a comprehensive understanding of the potential of the artificial intelligence technology for the development of banking among scientists and practitioners, and therefore the application of this technology will only expand to various areas of the operation of banking institutions, including the creation of new algorithms and information innovations to increase stability of the cybersecurity system of these institutions.
Description
Keywords
banking institution, artificial intelligence, cybersecurity, cyber risks, macroeconomic instability, information system, analytical information, article
Citation
The Role of Artificial Intelligence in the Cybersecurity System of Banking Institutions in the Conditions of Instability / Dubyna M., Shchur R., Shyshkina O., Sadchykova I., Panchenko O., Bazilinska O. // Journal of Theoretical and Applied Information Technology. - 2024. - Vol. 102 (19). - P. 6950-6965.