Temi Popoola, chairman of Central Securities Clearing Systems Plc (CSCS), has noted that artificial intelligence’s (AI) predictive and responsive capabilities are essential in combating cybersecurity threats.
He emphasised the crucial role of AI and robust infrastructure in bolstering cybersecurity measures during the 5th CSCS Cybersecurity Conference held in Abuja.
The event, held in collaboration with the Office of the National Security Adviser (ONSA), brought together thought leaders to explore emerging threats and opportunities within the dynamic cybersecurity landscape.
In his opening address, Popoola highlighted the increasing risks posed by cyberattacks, which can disrupt entire nations.
He referenced recent incidents, including a breach of Microsoft’s Azure cloud platform that compromised sensitive U.S. government data and coordinated ransomware attacks targeting Nigerian financial institutions.
With global cybercrime projected to reach $10.5 trillion annually by 2025, according to Cybersecurity Ventures, Popoola underscored the necessity of a unified approach, stating, “The synergy between AI and infrastructure is not just an option; it is our lifeline.”
He emphasised that organisations must elevate cybersecurity to a board-level priority, integrating it into all decision-making processes.
Similarly, Haruna Jalo-Waziri, CEO of CSCS, stated that cybersecurity transcends being a mere technical issue as it is a strategic imperative that necessitates the collective efforts of all stakeholders within the financial ecosystem.
He emphasised CSCS’ full commitment to leveraging AI-driven solutions to enhance defenses and maintain the integrity of its systems. He further remarked, “There is an urgent need for robust cybersecurity measures. We must improve our understanding of these threats, and we must learn, decide, and act quickly and decisively.”
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