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The Sun
5 days ago
- Business
- The Sun
Financial service providers increasingly adopting AI: Bank Negara survey
KUALA LUMPUR: Financial service providers in Malaysia are increasingly adopting artificial intelligence (AI), according to the central bank's AI Survey 2024. The survey found that in 2024, 71% of banking institutions and development financial institutions, and 77% of insurance and takaful operators had implemented at least one AI application. 'Notably, in 2024, 71% of banking institutions and DFIs had implemented at least one AI application, an increase from 56% in the previous year. Similarly, 77% of ITOs had adopted at least one AI application, compared to 58% in the previous year,' according to Bank Negara Malaysia's (BNM) discussion paper on 'Artificial Intelligence in the Malaysian Financial Sector' today. BNM said over 60% of banking institutions and insurers view AI as a strategic priority over the next one to three years. 'This trend looks set to continue in the coming years, as over half of the respondens agreed that AI has the potential to generate significant new value for both their organisations and consumers.' The central bank stressed it remains vigilant to developments in AI and closely monitors its usage across financial service providers. 'As AI technologies and the state of adoption in financial service providers continue to grow and evolve, we recognise that AI use may introduce new risks that are not adequately addressed by the existing regulatory framework.' BNM said an escalation in supervisory focus may be considered if AI-related risks become more material, in line with the principles of parity, proportionality, and neutrality. 'For example, due to widespread use of AI applications in critical functions or to replace human decision making. Where relevant, we may explore the need to introduce new regulatory expectations should the need arise in the future,' it said. The central bank said it closely monitors five technological developments and innovation in the financial sector to shape its future regulatory and supervisory approach on AI. The discussion paper seeks to share and obtain feedback on BNM's posture on responsible AI innovation in the financial sector; the proposed regulatory approach for AI, as well as industry guidelines on responsible use; and general development approach including priority areas for greater innovation and industry-led collaboration. BNM said it aims to facilitate and encourage responsible adoption and use of AI across the financial sector in a manner that will advance better consumer outcomes and its broader policy objectives. 'This means that while new innovations, such as AI, are given the opportunity to flourish, associated risks that may negatively impact system-wide stability, consumer outcomes, and confidence in the financial sector will need to be managed effectively.' BNM interviewed select local financial industry players throughout 2024 and issued an updated industry-wide survey to gain insights into recent advancements on AI within the Malaysian financial sector. The AI Survey 2024 received responses from 1,207 financial service providers.
Cision Canada
16-07-2025
- Business
- Cision Canada
ISC2 Research Reveals Cybersecurity Teams Are Taking a Cautious Approach to AI Adoption
New study reveals 30% of cybersecurity professionals are already using AI tools, delivering insights into the early impact on team performance and hiring trends ALEXANDRIA, Va., July 16, 2025 /CNW/ -- ISC2 – the world's leading nonprofit member organization for cybersecurity professionals – today published its 2025 AI Adoption Pulse Survey to measure the adoption of AI security tools across cybersecurity teams. Based on insights from 436 global cybersecurity professionals employed by organizations of all sizes, the research assesses the impact of AI adoption on team effectiveness, entry-level jobs and cybersecurity hiring. "AI is reshaping how organizations operate, and cybersecurity is no exception," said ISC2 Chief Qualifications Officer Casey Marks. "Our latest AI Survey shows cautious but growing interest in AI security tools, with adoption expected to accelerate in the future. Encouragingly, 44% of professionals report no impact on hiring from current or expected adoption of AI security tools, and 28% see AI creating new opportunities for entry-level talent. Findings suggest that AI is helping cybersecurity professionals by automating repetitive tasks and enabling them to focus on more meaningful work." Adoption of AI Security Tools According to the AI Pulse Survey, 30% of cybersecurity professionals have already integrated AI security tools into their operations, defined in the survey as "AI-enabled security solutions, generative AI, and/or agentic AI for automatic action." Additionally, the majority (42%) are currently exploring or testing their adoption, indicating strong momentum toward future implementation. Among those who have already adopted AI security tools, 70% report positive impacts on their team's overall effectiveness. Top five areas where AI security tools will have the most positive impact on operations in the shortest amount of time - improving efficiencies and automating time-consuming tasks: Network monitoring and intrusion detection: 60% Endpoint protection and response: 56% Vulnerability management: 50% Threat modeling: 45% Security testing: 43% The largest organizations, with over 10,000 employees, lead the adoption of AI tools as part of their cybersecurity operations, with 37% actively using them. This is closely followed by mid-to-large (2,500–9,999 employees) and smaller (100–499 employees) organizations, each with 33% adoption. In contrast, mid-sized (500–2,499 employees) and the smallest (1–99 employees) organizations show the lowest adoption rates, with only 20% in each group actively using AI for security. Notably, the smallest organizations are also the most conservative, with 23% reporting no plans to evaluate AI security tools. Among industries adopting, evaluating or testing AI tools for their security operations, industrial enterprises (38%), IT services (36%), commercial/consumer sectors (36%), and professional services organizations (34%) are leading the way. In contrast, financial services and the public sector currently report the lowest adoption rates, at 21% and 16%, respectively. However, some industries with the lowest current adoption rates are most likely to be considering AI tool integration in the future. Within both financial services and commercial/consumer sectors, 41% of professionals reported actively evaluating these tools, while 36% of those in the public sector indicated the same. Impact on Hiring and Entry-Level Roles A majority of respondents agree that AI security tools will affect hiring at the entry level in cybersecurity. More than half (52%) say AI will significantly or somewhat reduce the need for entry-level staff. However, 31% expressed a more optimistic view, believing that AI will also create new types of entry- and junior-level roles or increase demand, helping to counter the decline elsewhere in early-career opportunities. Respondents expressed optimism about the wider cybersecurity hiring landscape amid AI adoption. Nearly half (44%) agreed that their organization's cybersecurity hiring has not yet been affected by the introduction of AI security tools. In contrast, 21% say AI has changed their hiring plans and priorities in their organizations. At the same time, it's clear that AI security tools are reshaping roles and responsibilities of existing staff. According to the survey, 44% of cybersecurity professionals said that their organizations are actively reconsidering the roles and skills needed to support the adoption and use of AI security tools. The survey report highlights key insights for organizations and hiring managers navigating the growing influence of AI in cybersecurity. As AI continues to evolve, organizations must strike a balance - embracing its efficiencies while prioritizing investment in entry-level opportunities to ensure the cybersecurity workforce remains agile, skilled and future-ready. To explore the full survey findings including how cybersecurity professionals are adopting AI tools, and its impact on team effectiveness, entry-level roles and hiring trends, read the full report here. About the 2025 AI Adoption Pulse Survey ISC2 conducted an online survey to measure adoption of AI security tools across organizations, and to better understand the impact of this adoption on team effectiveness, entry-level jobs and cybersecurity hiring. In total, n=436 professionals currently working in a role with cybersecurity responsibilities participated. The survey was posted on ISC2's member dashboard pages from May 13 to May 22, 2025. For the purposes of this survey, AI security tools were defined as "AI-enabled security solutions, generative AI, and/or agentic AI for automatic action." About ISC2 ISC2 is the world's leading member organization for cybersecurity professionals, driven by our vision of a safe and secure cyber world. Our more than 265,000 certified members, and associates, are a force for good, safeguarding the way we live. Our award-winning certifications – including cybersecurity's premier certification, the CISSP® – enable professionals to demonstrate their knowledge, skills and abilities at every stage of their careers. ISC2 strengthens the influence, diversity and vitality of the cybersecurity profession through advocacy, expertise and workforce empowerment that accelerates cyber safety and security in an interconnected world. Our charitable foundation, the Center for Cyber Safety and Education, helps create more access to cyber careers and educates those most vulnerable. Learn more, get involved or become an ISC2 Candidate to build your cyber career at Connect with us on X, Facebook and LinkedIn.
