Practice question (2021)

Read the extract below and answer ALL the questions that follow.

The Promise and Challenges of AI and Machine Learning for Cybersecurity In spite of having the capability of mimicking human intelligence, AI is still far short of capabilities to replace human intelligence and the ways of understanding a problem and finding solutions. But when it is about reducing errors and faults in the operational tasks and when it is about finding anomalies and irregularities, AI is way ahead of the human efficiency and capability. Apart from adding a robust security layer AI is super efficient in evaluating the mistakes and all the errors that human intelligence is prone to commit. Machine learning, on the other hand, by analyzing the data from the past and evaluating the use cases for the future, can actually address the user needs in the most befitting manner. The algorithms based on AI and Machine Learning are basically fed the data-driven insights through the months of data pertaining to the activity logs. Based on this, machine learning algorithms can actually predict future occurrences and user behavior and can suggest proactive measures accordingly. When it comes to cybersecurity, time is a crucial element as it is important for the security measures to work faster to keep pace with the hackers and all kinds of cybersecurity threats. Instead of giving enough time to the hackers or the threatening malware, the security system must act proactively and breach the security gap at the earliest. It is for the app developers, security experts, and tools to stay ahead of the security threats and challenges, and that is exactly where AI and Machine Learning-based tools really excel.

1.3 Data analytics are extremely important for risk managers. They improve decision-making, increase accountability, benefit financial health, and help employees predict losses and monitor performance. Assess and report on common challenges of Data Analytics. Include in the discussion possible measures to be implemented to overcome the challenges. (Provide at least 10 points and explain in detail with examples.