Cybersecurity and Artificial Intelligence: An Examination of Integration and Challenges of AI in Selected Financial Institutions in Port Harcourt LGA

Abstract

The study examined the relationship between Artificial Intelligence (AI) and cybersecurity in selected financial institutions in Port Harcourt Local Government Area, Rivers State, Nigeria. Specifically, it examined the integration of AI into cybersecurity practices, the cybersecurity challenges associated with AI adoption, the effectiveness of AI-driven cybersecurity solutions compared with traditional security measures, and strategies for mitigating the risks arising from the dual-use nature of AI. The study adopted a descriptive survey design. A total of 50 respondents were purposively and proportionately selected from five selected financial institutions, with 10 respondents drawn from each institution. Data were collected through a structured five-point Likert-scale questionnaire administered electronically using Google Forms and analyzed using SPSS version 25 through frequencies, percentages, means, and standard deviations. Findings revealed that AI is widely integrated into cybersecurity practices, particularly for real-time monitoring, threat detection, suspicious-activity identification, and rapid response. However, AI adoption was also associated with increased cybersecurity complexity, data protection concerns, inadequate technical expertise, and emerging vulnerabilities. Respondents perceived AI-driven cybersecurity solutions as faster and more effective than traditional security measures, although they acknowledged that AI introduces new security risks. The study concludes that AI provides significant opportunities for strengthening cybersecurity but requires appropriate governance and oversight. It recommends continuous staff training, regular risk assessments, stronger data protection, hybrid cybersecurity frameworks, enhanced third-party risk management, and closer collaboration between financial institutions and regulatory bodies.

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