Lifeboat Foundation

Nice concept; however, given the recent warnings for 2016; I hope that IDC and others are not overwhelmed as well as able to meet their client’s expectations. My concern is expectations by policy holders as well as leaders operating in a mode of false sense of security and ignoring warnings that they would have focused on closely without the insurance.

New report offers insight into some of the tools and models available today to help insurers expand into this emerging market, balance their risk portfolios, and maintain a positive outlook

FRAMINGHAM, Mass., March 15, 2016 – Increased digitization and interconnectivity have catapulted the risk of cyber threats as one of the top global perils of 2016 and beyond. To combat this risk, many companies will look to insurance as a critical risk management technique that complements improved cyber security measures. IDC Financial Insights outlines the tremendous opportunities for insurers to capitalize on this largely untapped market in a new report, Perspective: Cyber Insurance — Can Technology Help Insurers Overcome Their Skepticism? (Doc #EMEA41044816), and emphasizes some of the tools and models that can help insurers effectively penetrate the emerging market while balancing their risk portfolios.

Very concerning: 72% of all India companies were hacked in 2015. How many were hosting consumer and business data for non-Indian companies say US or European companies?

According to KPMG’s, Cyber Crime Survey Report 2015, around 72 per cent of the companies in India have faced cyber-attacks in the year 2015. In India a spate of cyber security issues have been witnessed like the Gaana.com or Ola Cabs apps being hacked. Such issues have raised the alarm for the whole enterprise community. And it doesn’t seem to be stopping here. According to a report from McAfee Labs, the number of cyber attacks where malware holds user data hostage is expected to grow in 2016 as hackers target more companies and advanced software is able to compromise more types of data. In many cases the objective would be financial gain or corporate espionage, either ways, resulting in heavy losses for the enterprise.

Today, no single new age enterprise is immune to cyber threats. The humongous amount of information popping out of various social and mobile platforms continues to add to organizations’ vulnerabilities, making them attractive targets for complex cyber crimes.

Continue reading “72% Indian companies faced cyber attacks in 2015, yet most do not have a threat response strategy” »

So does this mean war?

Sen. Chuck Schumer (D – N.Y.) said that an Iranian cyber-attack on a dam near New York City was a “shot across the bow” of the United States, which should be answered with harsher sanctions, the Associated Press reported on Friday.

“Now it looks clear that the Iranians did it,” Schumer said during an appearance on Long Island. “What were they doing? They were sending a shot across our bow. They were saying that we can damage, seriously damage, our critical infrastructure and put the lives and property of people at risk.”

Continue reading “Schumer: Iranian Cyber-Attack on New York Dam Was ‘Shot Across the Bow’” »

To me; it’s all common sense. If you step back look at the technology landscape as a whole along with AI; you start to see the barriers that truly spolights where we have way too much hype around AI.

Example, hacking. If we had truly advance AI at the level that it has been promoted; wouldn’t make sense that researchers would want to solve the $120 billion dollar money pit issue around Cyber Security and make billions to throw at their emerging AI tech plus ensure their AI investment wouldn’t incur pushback by consumers due to lack of trust that AI would not be hacked? So, I usually tread litely on over hype technologies.

I do see great possiblities and seen some amazing things and promise from Quantum Computing; however, we will not truly realize its impact and full potential until another 7 years; I will admit I see more promise with it than the existing AI landscape that is built off of existing traditional digital technology that has been proven to be broken by hackers.

Continue reading “Artificial intelligence has become a religion” »

EU Justice Ministers Claims Cyber Attackers are terrorists. I wouldn’t say all of them are terrorists. Those who attack hospitals, attack government infrastructures, threaten markets, etc, are terrorists. The next door neighbor’s 13 yr old kid hacking to use your wireless internet service; not a terrorist.

European Union justice ministers on March 11th adopted a general approach on the directive on combatting terrorism, including serious cyber crimes, informs LETA/BNS.

On Friday the council greed its negotiating position on the proposal for a directive on combatting terrorism. The proposed directive strengthens the EU’s legal framework in preventing terrorist attacks by criminalising preparatory acts such as training and travel abroad for terrorist purposes – hence addressing the issue of foreign fighters – as well as aiding and abetting, inciting or attempting such acts. It also reinforce rules on the rights for the victims of terrorism, the Ministry of Justice said.

Continue reading “EU justice ministers defined cyber crimes as terrorism” »

Barclay Simpson, a leading Corporate Governance recruitment consultancy, has released its annual Security & Resilience market report which suggests that demand continues to rise for cyber security skills as an arms race develops between cyber criminals and those looking to secure systems and data from increasingly complex cyber attacks. With increased prominence and board attention, 68% of managers do not believe their security departments are sufficiently resourced given the demands that are made on them (down from 76%) whilst 69% have recruited or attempted to recruit in the last 6 months.

UK’s biggest threat to their own economy is cybercrimes.

Another example of technology outliving it’s creator — email.

A brief history of electronic messages, from the Queen’s first email to the triumph of spam to the launch of Gmail to mobile email.

I believe there are good advances in AI due to the processing performance; however, as I highlighted earlier many of the principles like complex algorithms along with the pattern & predictive analysis of large volumes of information hasn’t changed much from my own work in the early days with AI. Where I have concerns and is the foundational infrastructure that “connected” AI resides on. Ongoing hacking and attacks of today could actually make AI adoption fall really short; and in the long run cause AI to look pretty bad.

A debate in New York tries to settle the question.

By Larry Greenmeier on March 10, 2016.

Continue reading “Is Artificial Intelligence Being Oversold?” »