In the world of digitalization, e-commerce has become an integral part of our lives. We can satisfy our shopping needs by buying anything from clothes and electronics to groceries on online platforms. However, digitalization does come with many potential threats.
One of the threats to e-commerce platforms is cyberattacks which evolve by leaps and bounds. Hackers go out of their way to breach security systems and compromise sensitive customer data. AI can become a lifesaver for online shopping platforms in this regard. Today AI integration into e-commerce websites has become ubiquitous as many AI applications shape the future of online retail which you can learn more about in this article.
AI usage to fight hackers is a powerful tactic that can safeguard e-commerce platforms. We’ll cover how AI can combat this ever-present danger of cyberattacks on online shopping platforms.
The Growing Threat of Cyberattacks
E-commerce businesses can have devastating consequences due to cyberattacks. Overall, attacks can lead to the following consequences:
- Data breaches;
- Financial losses;
- Reputation damage;
- Legal consequences.
There are two most common types of heavy attacks: DDoS attacks and phishing. The first one focuses on overwhelming websites’ servers and making them unavailable to customers. The second one is based on deceptive tactics that can trick users into revealing their confidential data.
How AI is Revolutionizing e-Commerce Security
Applications that are based on artificial intelligence become what e-commerce businesses invest in. Moreover, online retail platforms can explore the benefits of using AI to safeguard them from cyberattacks. Here’s how AI can transform e-commerce cybersecurity:
Predictive Analytics
It’s not a secret that AI algorithms can analyze huge volumes of data. In this regard, it can identify patterns and anomalies during the analysis. It can also monitor customer behavior and transaction history to predict potential threats and detect unusual activities. By detecting multiple failed log-in attempts or strange purchase patterns, businesses can respond swiftly to potential threats.
Fraud Detection
A few years ago, it was only possible to analyze fraudulent activities post-factum. Today, AI fraud detection systems can analyze transactions in real time. Such systems can monitor all transactions and identify those that seem suspicious.
User Authentication
Usually, user authentication includes passwords and security questions. Nowadays, it’s not a challenge for hackers to get to users’ passwords and find out answers to security questions. That’s why this traditional method makes shopping platforms vulnerable. However, AI can enhance security by implementing biometric authentication methods. Customers can safely use online shopping platforms if they undergo facial recognition and fingerprint scanning.
Chatbots
E-commerce businesses implement AI virtual assistants and chatbots to enhance customer service. They can assist with inquiries quickly and provide real-time support. Moreover, they can offer a more secure way to handle sensitive data. Advanced programs can be taught to recognize and prevent phishing attempts. Virtual assistants and chatbots can verify identities and authenticate transactions.
DDoS Mitigation
Top-notch protection systems can make platforms even when they’re under cyberattacks. AI-powered protection systems and machine learning can be used to determine whether there is legitimate traffic or malicious activity. When they can distinguish between different types of traffic, they can help platforms remain accessible to legitimate users even during an attack.
Content Filtering
Many businesses take advantage of user-generated content which helps with businesses’ promotion and brand recognition. However, hackers can generate such content to spread malicious links, spam, and other fraudulent ads. Artificial intelligence can monitor online shopping platforms and analyze user-generated content. This will help companies make their websites and platforms more secure for customers.
Conclusion
Nowadays, e-commerce platforms thrive. However, hackers are on the move. They constantly develop and improve their attacks on online retail platforms as they can hit the jackpot with sensitive data on such platforms. However, if e-commerce businesses adopt AI as part of their security system, they can take a big step in safeguarding customer data.