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Writing Cyber Is Key to Survival, Munich Re Exec Says

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Trumpeting a message that he conceded might be different from peers, Stefan Golling, a member of Munich Re Board of Management, said that Munich Re remains bullish on the cyber insurance and reinsurance markets. In fact, "if insurers and reinsurers shy away from the cyber market, they will not survive," said Golling, Munich Re board member for Global Clients/North America, during a presentation the European reinsurer's virtual Rendez-Vous presentation. He noted media reports of a hardening cyber insurance market, reduced available capacity and narrower carrier and reinsurer appetites for cyber risk. Those shouldn't scare insurers and reinsurers away, Golling said. "If we want to remain relevant in this industry, relevant for our clients, then we need to find solutions for cyber. And we will," he said.


AI-Driven Technology to Protect Privacy of Health Data

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On May 24th, researchers from the Technical University of Munich (TUM), Imperial College London, and OpenMined, a non-profit organization published a paper titled "End-to-end privacy-preserving deep learning on multi-institutional medical imaging." The research unveiled PriMIA- Privacy-Preserving Medical Image Analysis that employs securely aggregated federated learning and an encrypted approach towards the data obtained from medical imaging. As the paper states, this technology is a free, open-source software framework. They conducted the experiment on pediatric chest X-Rays and used an advanced level deep convolutional neural network to classify them. Although there exist conventional methods to safeguard medical data, they often fail or are easily breakable.


Esper to allies: Picking Huawei risks intel and security ties with the US

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MUNICH ― U.S. Defense Secretary Mark Esper on Saturday called out China as America's main adversary and warned allies that letting the Chinese firm Huawei build its next-generation, or 5G, network risks their security cooperation and information sharing arrangements with the U.S. "Reliance on Chinese 5G vendors, for example, could render our partners' critical systems vulnerable to disruption, manipulation and espionage," Esper said in a speech at the high-level Munich Security Conference. "It could also jeopardize our communication and intelligence sharing capabilities, and by extension, our alliances." Adopting Huawei's equipment on allies' 5G networks, Esper said, "could inject serious risk into our defense cooperation." It was a tough statement partially at odds with other U.S. officials, including Secretary of State Mike Pompeo, who offered assurances last week that U.S.-U.K. intelligence sharing remained strong despite Britain's decision to include Huawei in some parts of its nascent 5G network. A day earlier, the White House's point person for international telecommunications policy, Robert Blair, told reporters: "There will be no erosion in our overall intelligence sharing."


DataCareer: Your Career Platform for Data Science in the UK and Ireland

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Grade: G13/3 (net (basic) monthly salary* for this vacancy: EUR 12 435,12, which may be supplemented by various allowances depending on your personal circumstances) Duration of appointment: 5 years Career path: Managerial Location: Munich Application deadline: 17.11.2019 With almost 7 000 employees, the European Patent Office (EPO) is the second-largest public service institution in Europe. It supports innovation, competitiveness and economic growth across Europe through a commitment to high-quality and efficient services delivered under the European Patent Convention, its founding treaty. It has a yearly budget of EUR 2.3 billion, entirely financed by the fees paid by its users. As set out in its Strategic Plan 2023, the EPO is proud to deliver high-quality patents and efficient services that foster innovation, competitiveness and economic growth.


Augmenting intelligence: How BMW's US IT center is putting AI into the hands of workers

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Outside Germany, one of BMW's key research organizations for business and manufacturing technology is the IT Innovation and Research Center. With bases both in Silicon Valley, as well as Greenville, South Carolina, the IT center carries out research for systems and tools across the enterprise, including financial services, sales and marketing, engineering, quality, HR, production and logistics. It is part of the carmaker's central BMW Group IT department led from Munich, which coordinates the company's enterprise and manufacturing IT backbone. Similar to other laboratory locations across BMW, the IT center operates to a large extent in research mode. It has a strong connection, for example, to Clemson University, with whom it shares a campus at the International Center for Automotive Research, working closely with engineering and software professors and students.


AI mimics CEO voice to scam UK energy firm out of £200k

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Criminals have impersonated a chief executive's voice using artificial intelligence-based software to deceive an unnamed UK-based CEO into making a fraudulent transfer of £200,000 according to a report in the WSJ. WSJ's Catherine Stupp reported that: "The CEO of a UK-based energy firm thought he was speaking on the phone with his boss, the chief executive of the firm's German parent company, who asked him to send the funds to a Hungarian supplier. The caller said the request was urgent, directing the executive to pay within an hour, according to the company's insurance firm, Euler Hermes Group SA. Euler Hermes declined to name the victim companies." Rüdiger Kirsch, a fraud expert at Euler Hermes, a subsidiary of Munich-based financial services company Allianz SE was reported as saying that the UK CEO recognised his boss' slight German accent and the melody of his voice on the phone.


Merkel Calls Russia a Partner, Urges Global Cooperation

U.S. News

"We are proud of our cars and so we should be," Merkel said, adding, however, that many were built in the United States and exported to China. "If that is viewed as a security threat to the United States, then we are shocked," she told the Munich Security Conference to applause from the audience.