Science & Tech · Cybersecurity · 2 hrs ago
CIBC is adjusting cybersecurity defenses as AI speeds up threats
CIBC security chief Joe LoBianco says AI is accelerating cyber threats facing banks and other large organizations.
CIBC serves more than 15 million clients in Canada and around the world, and its security work covers client data, key systems and outside providers.
AI can link smaller weaknesses into bigger risks, making it harder for security teams to focus only on the most serious known problems.
CIBC is responding by fixing lower-severity issues sooner and building security into products earlier.
The bank is also using automated testing and AI alongside practices such as patching, identity management and data protection.
Vendors must fit into banks’ existing systems and workflows to make their security tools easier to adopt.
LoBianco said companies should understand how banks work, while CIBC will continue to monitor attacks and use lessons from other breaches to test its defenses.
CIBC is adjusting its cybersecurity approach as artificial intelligence accelerates the pace and sophistication of threats.
The bank is addressing lower-severity vulnerabilities more quickly because AI can combine them into higher-risk weaknesses.
CIBC is embedding security earlier in product design and increasing automated testing across software development.
The bank is also strengthening its management of third-party risk and using AI in security testing and defence.
CIBC serves more than 15 million clients in Canada and around the world.
- Who
- CIBC, whose security chief is Executive Vice-President and Chief Information Security Officer Joe LoBianco.
- What
- The bank is adapting its cybersecurity defences as AI speeds up threats.
- When
- Over the past year, AI has accelerated cybersecurity trends, according to LoBianco.
- Where
- CIBC operates in Canada and around the world.
- Why
- AI is enabling threats to move faster and become more sophisticated, and can combine lower-severity issues into higher-risk weaknesses.
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- Clients
- More than 15 million
- Security chief
- Joe LoBianco
- Cybersecurity priorities
- Earlier security in product design and more automated software testing
- Third-party risk
- CIBC is strengthening how it manages risk across providers
What people are saying
We’ve seen an increasing pace and sophistication of threats over time.
I would say AI is supercharging those.
AI is particularly adept at chaining these lower-severity issues together into a much more high-risk weakness.
We have to be building our defences to deal with this year’s and next year’s threats.