Diffusion of Cybersecurity Technology - Next Generation, Powered by Artificial Intelligence

Abstract: The cyber world is growing as more information is converted from analogue to digital form. While convenience has been the main driver for this change little effort has been made on securing the data. Data breaches are growing in number and each breach is growing in severity. Combined with regulatory pressure organizations are starting to realize the importance of security. The increased threat level is also driving the security market for more potent solutions and artificial intelligence (AI) have in recent years been implemented to enhance the capabilities of security technologies.  The thesis aims to investigate the adoption of AI enabled cybersecurity technologies within the financial industry which is often perceived as the market leader regarding security. Using a qualitative method through a multiple case study, valuable insights were gained regarding how firms are working with security and what needs they have. To identify factors that influence the rate of diffusion of AI enabled security technologies the diffusion of innovation theory combined with the TOE framework was used in this study.  The thesis has contributed to the field of innovation management by enriching an area within IT innovation management by bridging the gap between security innovation and AI innovation. The study revealed that environmental factors, such as regulations and threat landscape, are forcing organizations to take action and control both how organizations work with security but also what technological attributes are perceived as advantageous. Detection and automation are two technological attributes that the companies are looking for to fill their needs. AI solutions are already being implemented to increase detection and automation we believe that the rate of adoption for AI enabled security innovation will only continue to grow. The results and findings contribute to an expanded understanding on the factors that affect adoption of AI security innovations within the financial industry.