We live in an en­tirely new real­ity

Cyber threats are rapidly increasing, and the methods used by cybercriminals are becoming ever more sophisticated. Artificial intelligence is further intensifying this development, both in terms of attacks and defences.

This new reality was explored in detail at a well-attended morning meeting hosted by Arion Bank and Syndis on 9 June, where experts spoke to a packed house at Arion’s headquarters at Borgartún 19. At Arion, we seek to contribute to increasing knowledge and raising awareness of cybersecurity among both individuals and businesses, and we welcome this excellent turnout and strong interest.

Cybersecurity concerns us all

In his opening remarks, Hákon Lennart Aakerlund, Chief Security Officer at Arion Bank, stressed that cybersecurity is no longer an issue confined to IT departments.

“Cybersecurity affects us all – individuals, businesses, families and society as a whole,” said Hákon.

He further noted that artificial intelligence has significantly altered the landscape. Phishing emails have become more credible, voices and images can be convincingly fabricated, and attacks that previously took weeks or months to prepare can now be set up in just a matter of minutes.

A daily challenge within financial institutions

Stefán Skúlason, a security specialist at Arion Bank, spoke specifically about cybersecurity in the age of artificial intelligence. He shared, among other things, real-world experiences of the daily challenges faced by financial institutions.

Finally, David Jacoby, CSO at Syndis, took to the floor, with a presentation entitled “Weaponizing AI for fun and profit.” David has decades of experience in the field of information security and is known for making complex topics both engaging and accessible. In his talk, he combined practical examples with insights into how hackers think. The audience appeared to respond very positively to his presentation and hopefully came away with valuable knowledge they can apply.

Collaboration and education are key

Two key themes ran through the presentations at the meeting: collaboration (we all need to share knowledge and work together across sectors); and education (the best defence is an informed and vigilant public). This was reflected in the fruitful collaboration between Arion Bank and Syndis around the event and various other projects. United efforts build stronger defences.

We thank Syndis for an excellent meeting – and likewise all those who attended the presentations – and look forward to doing it again.