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From identifying scam texts on our phones to protecting data systems in the enterprise, managing cyber risk has become part of all our daily lives. Cyber threats have become part of the background noise of our digital society. The important question is how we deal with its presence. At Telstra, we are in a constant state of vigilance to help our business and enterprise customers to understand how to apply the best technology to help keep themselves and their customers as safe.
When it comes to those scam texts, we have been applying detection systems inside our network to reduce the volume of scam messages that get through to customer phones. Since launching our Cleaner Pipes initiative in April 2022, we’ve blocked around 333 million scam messages.
Like in many other areas of technology today, artificial intelligence is rapidly advancing to play a huge role in identifying and helping to protect against cyber security threats. At Quantium Telstra, our mission is to apply data science and artificial intelligence to our clients’ most pressing challenges. Cyber security is a clear example.
Our work with a leading Australian bank on the Scam Indicator is another great example of applying data and AI to detect high-risk scenarios and respond accordingly. Telstra created an API for the bank to integrate with its existing scam detection processes, offering visibility of whether a customer is currently on a phone call – a key indicator they maybe in the process of being scammed.
Scam Indicator has been designed to maintain user privacy, with our banking partner having access to just the very specific data points related to scam prevention and no other underlying data. But this added layer offers great benefit to the bank’s risk profiling during the real-time window where a scam could still be stopped in its tracks. Right then and there, they can respond by adding further security checks to a transaction process before allowing a high-risk transfer to occur. Every data point we can offer to help mitigate attacks in real time is a win for customers.
Data is the backbone of managing real-time detection systems such as this. And when we are talking to business customers about enhancing security the answers must also start with data. Whether you feel like you don’t have much of it to worry about or you’re worried you’re drowning in it, it’s important to stop and assess the reality of your data landscape.
Knowing the data you hold and where it lives is crucial to building a mature security posture. Data is at the heart of most cyber-attacks. Only with a clear map of your existing data systems can you make confident decisions about what to keep and what to change to balance your security risks against the opportunities your data can unlock for your business.
Data also holds great potential as a source of intelligence for business growth. We are seeing AI tools emerge that are revealing new, even unexpected, insights from business data resources. But we need the right governance and compliance processes in place to build confidence in how to understand and help manage any AI risks appropriately.
People often ask us about what we are doing internally to manage risks specific to data and AI. Within Telstra, we have our Risk Council on AI and Data (RCAID) managing oversight of all data and AI initiatives to ensure we adhere to the highest privacy, legal, security and ethics standards.
Having checks and processes in place to consider how you will bring data and AI together is an important part of increasing data maturity. Risk management and identifying opportunities go hand in hand. To take control of your data is to understand it and to gain greater command over its potential.
We think about “data readiness” a lot with our customers. Data readiness starts with senior business leaders, setting clear goals for understanding the risk-benefit trade-offs in their organisation to move forward with confidence.
You don’t have to go it alone. We work with many organisations on their journey toward building the right systems across data and AI to uncover hidden potential through high trust processes. As with the Scam Indicator, finding the right partners can help unlock great value whether you’re protecting customers, clients or adding new capabilities to your business intelligence systems.
Like the rest of digital transformation, becoming ‘data ready’ is about seeing data management as a journey that requires ongoing thinking and investment to succeed. Whether in security management or in opportunity development, those who tap into the potential of data and AI working together will be well placed for success.
