Move Over, Sherlock: Watson, Other AI Sicced on Cybercrooks

As banks look for places to save time and effort by deploying artificial intelligence software, one logical place is cybercrime and fraud investigations. One reason for this is that the amount of cybersecurity threat information keeps growing as the availability of cybersecurity skills in this country shrinks. According to the Ponemon Institute, organizations receive on average nearly 17,000 malware alerts a week, and the time spent responding to these alerts as well as to inaccurate and erroneous intelligence in general costs 1.27 million annually. The group's research has also found that 19% of all security alerts are considered reliable, but only 4% are investigated. According to IBM, 10,000 security research papers are published every year and over 60,000 security blogs are posted each month, adding to the challenge for small security teams to keep up.