---
title: 80% of Financial Firms are Using AI to Prevent Fraud
description: AI adoption continues to grow; organizations must prioritize managing AI-specific cybersecurity risks to protect their digital assets.
---

[Jericho Security | Blog](http://www.jerichosecurity.com/blog)

# [80% of Financial Firms are Using AI to Prevent Fraud](http://www.jerichosecurity.com/blog/80-of-financial-firms-are-using-ai-to-prevent-fraud)

 Written by [Jericho Security Contributor](http://www.jerichosecurity.com/blog/author/jericho-security-contributor) | April 2, 2024

​​The U.S. Department of the Treasury report on "Managing Artificial Intelligence-Specific [Cybersecurity Risks in the Financial Services Sector](https://www.jerichosecurity.com/blog/threat-intelligence-report-2023-banking-and-finance-phishing-landscape)" highlights several key statistics, including:

- **63%**  surveyed are using AI or machine learning for cybersecurity purposes
- **80%** reported using AI or machine learning to prevent fraud.
- **94%** indicated that facilitating better industry-wide information sharing about AI cyberattacks would be an effective regulatory measure
- **82%** of surveyed firms suggested investing in research to understand AI-related cybersecurity risks would also be effective.
- **100%** of large firms (those with over $50 billion in assets) have in-house AI capabilities for fraud prevention and 94%for cybersecurity.
-  **44%** of smaller firms (those with under $1 billion in assets) have in-house AI for cybersecurity and 40% for fraud prevention.

 

As AI adoption in the [financial services sector](https://www.jerichosecurity.com/industries/financial-services) continues to grow, organizations must prioritize managing AI-specific cybersecurity risks to protect their digital assets and maintain the financial system's stability.

 

Jericho Security's platform is designed to address the evolving nature of AI-powered phishing attacks. By using AI to create advanced phishing simulations and educational content, Jericho Security helps organizations stay one step ahead of cybercriminals. Key features of the platform include:

 

- **Simulated AI-Powered Attacks:** Jericho Security generates realistic AI-driven phishing simulations to prepare employees for real-world threats.
- **Advanced Training Content**: Comprehensive training materials educate employees on the latest phishing tactics and how to identify them.
- **Real-Time Adaptation**: Jericho Security's AI technology continuously learns from new threats, ensuring the platform remains effective against evolving phishing attacks.

 

Organizations must adopt advanced cybersecurity solutions to [protect themselves from AI-powered phishing attacks](https://www.jerichosecurity.com/blog/10-phishing-prevention-tips-and-helpful-solutions) as the threat landscape evolves. [Jericho Security's innovative platform](https://www.jerichosecurity.com/) offers a cutting-edge approach to combating these threats, helping businesses defend against the new wave of cybercrime.

 

[View full post](http://www.jerichosecurity.com/blog/80-of-financial-firms-are-using-ai-to-prevent-fraud)

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