'Predictive AI models assign risk scores to transactions'

Cybersecurity has emerged as a key concern at a national, corporate, and individual level in recent years."Embracing emerging technologies like artificial intelligence (AI) and machine learning (ML) for early threat detection has become paramount," says Phoram Mehta, APAC chief information security officer (CISO), PayPal, the San Jose, California-based digital payments company. He discusses with Sudhir Chowdhary the rise of generative AI, role of security in ensuring high authorisation rates, and how AI plays a role in fraud detection. Excerpts from a recent interview:

- Sudhir Chowdhary

INTERVIEW: PHORAM MEHTA, APAC chief information security officer, PayPal

How are enterprises balancing the need for digital progress while staying safe? 

A 2023 report (Cisco Cybersecurity Readiness Index) revealed that only 24% of organisations in India have the 'mature' level of readiness needed to be resilient against today's modern cybersecurity risks.

While enterprises deploy emerging technologies for innovation, leveraging artificial intelligence (AI) and machine learning for early threat detection and rapid response is also crucial.

How is PayPal leveraging AI, especially GenAI, to ensure safer transactions?