DAR ES SALAAM, Oct. 3 -- RAPID advances in artificial intelligence (AI) are transforming Tanzanias financial sector, creating new opportunities for innovation, efficiency and improved services while exposing banks, insurers and other financial service providers to increasingly sophisticated cyber threats.

As financial transactions, customer services and business operations move further into digital platforms, stakeholders are being urged to strengthen cyber defences and prepare for emerging risks that may affect businesses, institutions, customer information and public trust.

The government has consequently called for greater collaboration among financial institutions, regulators, technology companies, telecommunications operators, acad...