AI-Enabled cybersecurity and its influence on organisational performance in the financial services sector: an empirical investigation
DOI:
https://doi.org/10.22399/ijcesen.5009Keywords:
Artificial intelligence, Cybersecurity, Financial services, Organisational performance, Technology adoption, NigeriaAbstract
This study examined the influence of AI-enabled cybersecurity on organisational performance within Nigeria’s financial services sector, grounded in the Technology Acceptance Model (TAM) and DeLone and McLean’s Information Systems Success Model. A quantitative survey collected data from 407 respondents across commercial banks, microfinance institutions, insurance companies, and investment firms using a structured Google Forms questionnaire. Results indicate that 42.75% of organisations have fully implemented AI-enabled cybersecurity, with an additional 22.11% reporting partial implementation. Statistical analysis revealed that 56.02% of respondents reported a high to very great extent of overall performance improvement. Regulatory compliance emerged as the primary performance beneficiary (34.40%), followed by risk management and security control (25.06%), and operational efficiency (19.16%).
Regarding threat mitigation, 86.49% reported slight to significant reductions in cyber fraud losses, while 78.62% rated AI systems as moderately to very effective in threat detection and prevention. Implementation challenges include high costs (50.12%) and lack of skilled personnel (22.36%). The identified critical success factors were continuous training and system updates (36.12%), adequate funding (26.54%), and skilled cybersecurity professionals (16.95%). The study validates the application of TAM and the IS Success Model to cybersecurity contexts, demonstrating that AI adoption significantly predicts organisational performance. Findings contribute to understanding AI adoption in developing economies and provide practical insights for financial institutions and policymakers. The study concludes that AI-driven cybersecurity significantly enhances organisational efficiency, resilience, and compliance in the financial services sector.
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