![]() This is followed by a multistage detection for malicious actors. The AI system described by the research is composed of three specific aspects, including the main data lake that acts as a common platform for collection and detection of data regarding botnets that indicate the start of an attack. "Machine learning is helping to deliver a better customer experience while also prioritizing safety at the point of sale, where fraud losses have been reduced significantly, with automated decisions on transactions made in milliseconds," Dimon notes in the bank's annual report. In its latest annual report, Dimon noted that AI will play a crucial role in stopping risk and fraud for the company and added that the technology is expected to drive $150 million of annual benefits for the company. In an interview with CNBC, CEO Jamie Dimon says that the company spends almost $600 million annually on its security infrastructure.Ī spokesperson for JPMorgan Chase did not respond to emails seeing additional comment about the research paper. ![]() "This AI-based early warning and multi-stage system, detects malicious Trojan activities from internal and external sources, through the lifecycle of the banking botnets, even ahead of the actual spear-phishing campaign," the researchers note in the paper.Īlthough it remains unclear whether the financial giant has already deployed this particular system that the researchers describe, JPMorgan Chase has been working toward strengthening its cybersecurity using advanced technologies such as AI and machine learning. In addition, the system is also equipped to provide real-time feedback on new domains registrations and activities, the researchers report. In the paper, the researchers describe the AI-based system as particularly useful in identifying mass phishing campaigns created through domain-generated algorithms and identifying malicious URLs by comparing them with certain pre-defined characteristics such as traffic patterns, jumbled URLs and spelling mistakes, which are typically an indication of suspicious actors. The AI system uses a combination of big data and deep learning algorithms for early-stage detection of phishing email and other malicious payloads that target bank employees, according to the research paper, which is written by five researchers at JPMorgan Chase. See Also: Live Webinar | Unmasking Pegasus: Understand the Threat & Strengthen Your Digital Defense Researchers at JPMorgan Chase have developed what they call a novel "early warning" security system that uses artificial intelligence to detect malware, Trojans and other advanced persistent threats before bad actors even start using phishing emails to target employees, according to a new research paper published earlier in July. ![]()
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