In the digital age, mobile apps have become indispensable, enabling unprecedented customer engagement and seamless experiences. With the exponential growth in mobile app usage, these apps are not just convenient tools but critical components of modern financial services, transforming the way customers manage their finances, transact, and interact with financial institutions. In Q4 2023, digital wallets and payment apps emerged as the most popular financial apps in India with over 100 million downloads, and this trend is set to continue. However, with this usage figure also comes a corresponding rise in security threats. Deep tech, including artificial intelligence and machine learning, is proving to be a robust technology for mobile app security, offering strong solutions against threats and cyberattacks.
Deep Tech Capabilities in Mobile App Security (AI/ML)
In turn, AI and ML amplify the impact of deep tech on mobile app security: the respective groundbreaking innovations enable the development of intelligent systems that analyze rubric data to identify patterns and irregularities that could pose security risks. AI-based tools for security can track user activity to detect suspicious activity, while ML algorithms can increase efficiency using the available threat data. A recent report estimates that the market for AI in cybersecurity will grow from $14.9 billion in 2021 to $38.2 billion in 2026, making its presence in security matters increasingly important.
Role of Runtime Application Self-Protection (RASP)
Another profound technological innovation that makes a huge difference in mobile app security is Runtime Application Self-Protection (RASP). This technology is crucial to improving mobile app security. It runs within the application’s runtime environment and makes the mobile app intelligent enough to self-detect emerging threats and protect itself in real time. Unlike traditional perimeter defense solutions, RASP provides continuous protection within the application – a technology that provides proactive protection by identifying and blocking cyber threats as they emerge.
Countering cyber threats from mobile apps with deep tech
The landscape of mobile app cyber threats is diverse and constantly changing. Deep tech plays a major role in combating these cyber threats by using sophisticated tools and methodologies.
Common cyber threats to mobile apps
App manipulation: Fraudsters often modify applications to add malicious functionality or bypass security protocols. Deep tech solutions can detect tampering attempts by continuously monitoring application integrity and immediately notifying of unauthorized changes.
Malware attacks: Mobile malware can extract sensitive information, track user behavior, and take control of devices. Advanced security solutions that leverage AI and ML can detect malware signatures and prevent potential damage. 2023 saw a 50% increase in malware attacks on mobile devices and apps, highlighting the urgent need for improved security protocols.
Phishing: Phishing attacks trick individuals into revealing sensitive information. Advanced technology solutions can analyze user behavior and identify phishing attempts, protecting users from fraudulent tactics.
Strategic implementation and cooperation
Implementing innovative technological solutions is strategic. Without exception, companies must invest in research and development to stay ahead of new threats. This can be promoted through collaboration between cybersecurity experts and companies themselves, as well as through the exchange of knowledge and cybersecurity resources. For example, some of these modern platforms, such as AppProtectt and AppBind, ensure comprehensive security through superior SaaS-based technology for protecting mobile applications.
Summary of the role of deep tech in improving mobile app security
Advanced deep-tech mobile app security technologies are reaching new heights, aiming for even better performance over traditional measures using new tools and methodologies. AI and ML enable real-time threat detection and response, while RASP provides continuous in-app protection. These developments are critical in the fight against these ever-changing mobile app cyber threats.
This means that due to the constant adaptability of cyber threats, organizations need to be extremely proactive and strategic when it comes to mobile app security. In fact, continuous implementation of advanced technologies not only in cybersecurity but also collaboration with the cybersecurity community requires changes just to keep an eye on cyber threats. Just by integrating deep tech, for example AI, ML, RASP, into the mobile application ecosystem, a huge improvement in security and transparency could be achieved.
The way to the future of mobile app security with deep tech
The future of mobile app security can only be secure if deep tech is developed and adopted at an unstoppable pace. In this environment of increasing threats to cyberattacks, the demand for innovative, adaptive and intelligent security approaches is increasing. Deep tech provides the necessary capabilities to protect mobile apps from existing and new threats, all geared towards creating an environment that deals with digital customers safely and transparently.
Simply put, Deep Technologies can be a real process that can have a significant impact on the Indian mobile app market. When companies integrate apps with AI, ML and RASP technologies, they increase the security and transparency levels of apps and make them safer for use by digital consumers. Platforms like AppProtectt and AppBind are setting the newer benchmarks for Indian mobile app security.
Disclaimer: The views expressed in this article are those of the author(s) and do not necessarily reflect the views of ET Edge Insights, its management or its members.
