Artificial intelligence is making seemingly impossible things happen. We can generate convincing multimedia featuring people centuries apart. We can predict which fashion line will sell the best at a new global event. Behind the algorithmic magic is tons of data – the most precious asset in these times.
AI models need ample data for training and subsequent testing. No wonder they are labeled large language models! Generally, finer data corresponds with more accuracy.
The financial repercussions of this changing dynamic are significant. Predicting sales and revenues with reasonable accuracy can guide product strategies or marketing decisions. It stands to reason that the data guiding these decisions is vulnerable to misuse.
Let us understand how to safeguard data as the reliance on artificial intelligence grows every moment.
The Demand for Data Is Higher Than Ever
If data was precious before, it is now worth its weight in gold. More organizations demand data to train machine learning models. It lets them make far-reaching predictions about customer behavior. New, relevant data is more in demand as it will likely be without historical bias.
This urgent demand for data has spurred activities that may not be above board. For example, reports keep coming in about fake customer surveys. Their sole intention is to store your personal contact information. This situation makes it risky to share data with third parties, including retailers.
In sync with the rising demand, AI has also raised data availability. Generative AI applications and tools like ChatGPT have become widespread. Some users may share sensitive information in prompts, which a hacker can misuse. Further, the newest ChatGPT-4o may pose privacy risks due to screen accessibility. The risk of using personal information for framing responses remains legitimate.
Buyers of PII or Personally Identifiable Information and other private data are everywhere, and few go the legal route.
Shockingly, CNN recently reported that the National Security Agency in the US has been secretly buying web browsing data. The agency has been doing so without warrants. An AI-based tool can achieve a lot with information on frequently visited websites. Tailored marketing and behavioral bucketing are only the tip of the iceberg.
Switching to Reliable Data Storage
In these sensitive times, more firms opt for storage solutions that can keep data safe from cyberattacks. For instance, an SSD with advanced encryption can keep your data safe even if the drive falls into the wrong hands. It is particularly critical for drives with confidential information like medical records of patients.
On-premises storage solutions that multiple users can access also pose substantial risks. So, if you use NAS or Network Attached Storage for file sharing and collaboration, you should consider additional security measures like access control.
Cloud storage also offers similar security options, like Multi-Factor Authentication. The optimal approach for your firm will depend on its repository of sensitive data, moderated by budget.
As the realization of more secure data storage grows, companies may need to reconsider their existing assets. The prospect can be financially daunting since procuring all-new IT solutions is expensive.
One way to deal with this is to partner with companies that buy used IT equipment for fair prices. This approach lets you maximize the useful life of your systems and get a headstart on funding for new components. According to We Buy Used IT Equipment, businesses can consider refurbished and eco-friendly options for cost and sustainability advantages.
Using AI for Elevated Data Security
Interestingly enough, some organizations have started using AI to ramp up the protection of their stored data. This revolutionary data protection method turns the tables on the risks AI poses. It uses intuitive threat-detection algorithms to identify potential problems.
In this context, sectors like finance and healthcare can benefit from sensitive data discovery. Forbes highlights how ML-based scanning can identify this information even in unstructured sources like images and emails.
Further, AI can simplify context-aware classification. It ensures that the organization has safeguarded all confidential data. It also lowers the risk of resting on the misleading satisfaction of false positives.
With rising mistrust, the need to integrate such systems for securing confidential data is increasing. GlobeNewswire observes that complaints about the handling of personal data have grown by 60% in recent years. Consequently, more companies now seek tools to classify and protect data.
Upskilling to Enhance Data Security
In the AI era, it has become imperative for professionals – and casual users – to understand data security. At an organizational level, you may consider techniques like masking and pseudonymization. It helps protect the identity of the involved parties, not letting unauthorized people make the connection.
Employees can benefit from training on how to use AI tools responsibly, i.e., without disclosing confidential data. Companies can consider guided sessions on cybersecurity, password management, and data handling.
More awareness about necessary security protocols can help make businesses more secure. They could be access control or erasing data before disposal. This proactivity must span all business functions. For example, security risks are inherent in how data is collected and reported in market surveys. They may also exist in how it gets analyzed and used in marketing campaigns.
Businesses thrive on data. It offers direction to crucial decisions and measures the impact of various activities. Think of employee engagement surveys or the response to a corporate advertising campaign. This data is attractive to a competitor facing employee attrition. A third party that wishes to sell you stuff also wants this data.
Being proactive about data security is mandatory to protect your business. It is more urgent amid the growing influence of artificial intelligence. A conscious approach can help companies use AI to extend, rather than compromise, this security. AI can be your dependable guard, predicting threats and sending clarion calls when required.
Gianluigi Cuccureddu is co-founder of Damarque, helping you to improve your commercial performance through better engagement with your employees, customers and strategic business partners.
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