National AI Policy Soon to Secure Digital Banking: MoITT

Amid the growing threat of cybersecurity and frequent hacking of data systems even of national institutions, the federal government has focused more on countermeasures and after first-ever Cybersecurity Policy, it’s soon going to launch national artificial intelligence (AI) policy which the industry experts believe would help to secure mainly the digital banking system. The Federal Minister for IT and Telecom Syed Aminul Haq has said this while addressing a conference titled BlockChain at a local auditorium.

National AI Policy Soon to Secure Digital Banking: MoITT

He was sure that cybersecurity and excellence in AI had become crucial for the country’s smooth and strong economic system.

“Cybersecurity is the first important pillar of Digital Policy 2021 of IT Ministry,” he said. “Digital transformation of Pakistan corresponds with Cybersecurity. Pakistan’s first cybersecurity policy is approved by the federal cabinet this year. And now the government is fully committed to introducing national AI policy soon.”

He referred to recent attacks on the country’s banking systems and national institutions databases which could not be compromised.

The minister’s thoughts came days after the cyberattack on the National Bank of Pakistan had almost paralysed the digital and automated banking systems.

Though the bank had claimed no data breach or financial loss due to the cyberattack. However, it took many weeks to restore the system.

Cybersecurity experts and AI professionals say if the government succeeds in bringing in and implementing comprehensive policies in these two areas, the country’s banking industry and financial institutions would be among the key beneficiaries of the development.

Check Also: Ministry of Information Technology and Telecommunication Launches Pakistan’s First Free Studio for Digital Media

Source: Dawn

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Onsa Mustafa

Onsa is a Software Engineer and a tech blogger who focuses on providing the latest information regarding the innovations happening in the IT world. She likes reading, photography, travelling and exploring nature.
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