The perceived impact of Emerging Technologies on Cybersecurity in the South African financial sector
Date
2022
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Witwatersrand, Johannesburg
Abstract
This study is based on the investigation of what is the perceived impact of emerging technologies on cybersecurity in South African financial institutions. New and emerging technologies have made significant advancements in many industries that can be very disruptive in nature, and the majority of these technologies have changed the cyber threat landscape as well. These include, among other things, cloud computing, artificial intelligence, and machine learning. The study offers insight into how these emerging technologies affect the cybersecurity of financial institutions in South Africa.
The study consisted of Information technology risk and cybersecurity individuals. The sample size of 11 individuals was seen as sufficient based on the spread across the financial sector and the experience within the various industries. The individuals were from banks, insurers and market infrastructures within the South African financial sector.
The sample focused on key financial institutions specifically banks, insurers, and market infrastructures, based in different provinces in South Africa such as Johannesburg and Cape Town where the impact could be systemic in the country. A qualitative study was adopted by the researcher based on systems theory to determine the relationship between the adoption of emerging or new technologies and the impact it has on cybersecurity.
There were various responses from the different institutions, focusing on the adoption of emerging technologies, the effects of this adoption on the cybersecurity environment, the risk and vulnerability management processes, and the ability to adapt and respond to new cybersecurity risks introduced by emerging technologies. The results of the study found that there is a clear link between the adoption of emerging technologies and the increase in cybersecurity requirements with emerging technologies significantly impacting the cybersecurity domain/functio
Description
A research report submitted in partial fulfillment of the requirements for the degree of Master of Management in the field of Digital Business to the Faculty of Commerce, Law and Management, Wits Business School, University of the Witwatersrand, Johannesburg, 2023
Keywords
Artificial Intelligence, Cloud Computing, Cybersecurity, Digital Transformation, Financial Sector, Machine Learning, Quantum Computin, UCTD
Citation
Philips, Denzil. (2022). The perceived impact of Emerging Technologies on Cybersecurity in the South African financial sector [Master’s dissertation, University of the Witwatersrand, Johannesburg]. WireDSpace.