Finance & Economics

CaixaBank to Explore AI Use for Cybersecurity

CaixaBank participates in the European research consortium along with eleven international entities to improve cybersecurity by leveraging AI and big data

CaixaBank AI cybersecurity

Image: CaixaBank

CaixaBank has formed a European research consortium to explore the use of AI and big data for cybersecurity purposes. Along with 11 other entities, the bank participates in the AI4CYBER project, which is part of the Horizon Europe programme for research and innovation, funded by the EU.

The role of CaixaBank in the project is to lead a fraud prevention pilot case that allows testing solutions developed in a real-life environment. Meanwhile, the overall aim of the project is to design new AI-driven software cybersecurity services and critical systems to withstand advanced cyberattacks.

The developed cybersecurity ecosystem will be validated in three scenarios:

  • Detection and mitigation of AI-powered attacks against the energy sector;
  • Robustness and autonomous adaptation of banking applications to face AI-powered attacks,
  • Resilient hospital services against advanced and AI-powered cyber-physical attacks.

The AI4CYBER project is supposed to last for three years. The participants would study the benefits of new solutions, assess the speed of incident response smarter boosted by flaw identification and code fixing automation, and improve models for detecting anomalies in behavioural patterns.

CaixaBank has previously participated in other European projects, in the framework of the Horizon 2020 programme. In recent years, the financial institution took part in ten winning consortia, receiving over €2.5 million in funding for technological innovation and cybersecurity.

The current Horizon Europe programme has €95.51 billion in funding available for the 2021-2027 period. Such extensive research would help Europe produce top-tier science and break down the barriers to innovation.

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Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.