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AI could be the next big defence against cybercrime

#artificialintelligence

The future of corporate cybersecurity seems to lie in artificial intelligence (AI) and machine learning (ML) solutions, a new report from global IT company Wipro suggests. According to Wipro's annual State of Cybersecurity Report (SOCR), almost half (49 percent) of all cybersecurity-related patents filed in the last four years have centered on AI and ML application. Almost half of the 200 organizations that participated in the report also said they are expanding cognitive detection capabilities to tackle unknown attacks in their Security Operations Centers (SOC). From a global perspective, one of the main threats for organizations in the private sector seems to be potential espionage attacks from nation-states. Almost all (86 percent) cyberattacks that came from state-sponsored actors fall under the espionage category and almost half (46 percent) of those attacks targeted the private sector.


Council Post: Lack Of Cybersecurity Consideration Could Upend Industry 4.0

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Industry 4.0 signifies a seismic shift in the way the modern factories and industrial systems operate. They consist of large-scale integration across an entire ecosystem where data inside and outside the organization converges to create new products, predict market demands and reinvent the value chain. In Industry 4.0, we see the convergence of information technology (IT) and operational technology (OT) at scale. The convergence of IT/OT is pushing the boundaries of conventional corporate security strategies where the focus has always been placed on protecting networks, systems, applications and processed data involving people and information. In the context of manufacturing industries with smart factories and industrial systems, robotics, sensor technology, 3D printing, augmented reality, artificial intelligence, machine learning and big data platforms work in tandem to deliver breakthrough efficiencies.


Hitting the Books: The latest 'Little Brother' is a stark cybersecurity thriller

Engadget

Back in 2008, New York Times best-selling author and Boing Boing alum, Cory Doctorow introduced Markus "w1n5t0n" Yallow to the world in the original Little Brother (which you can still read for free right here). The story follows the talented teenage computer prodigy's exploits after he and his friends find themselves caught in the aftermath of a terrorist bombing of the Bay Bridge. They must outwit and out-hack the DHS, which has turned San Francisco into a police state. Its sequel, Homeland, catches up with Yallow a few years down the line as he faces an impossible choice between behaving as the heroic hacker his friends see him as and toeing the company line. The third installment, Attack Surface, is a standalone story set in the Little Brother universe. It follows Yallow's archrival, Masha Maximow, an equally talented hacker who finds herself working as a counterterrorism expert for a multinational security firm. By day, she enables tin-pot dictators around the world to repress and surveil their citizens.


Impact of Artificial Intelligence in Cybersecurity

#artificialintelligence

Even though security solutions are becoming modern and robust, cyber threats are ever-evolving and always on the peak. The main reason for this is because the conventional methods to detect the malware are falling apart. Cybercriminals are regularly coming up with smarter ways to bypass the security programs and infect the network and systems with different kinds of malware. The thing is, currently, most antimalware or antivirus programs use the signature-based detection technique to catch the threats, which is ineffective in detecting the new threats. This is where Artificial Intelligence can come to rescue.


Global Big Data Conference

#artificialintelligence

Even though security solutions are becoming modern and robust, cyber threats are ever-evolving and always on the peak. The main reason for this is because the conventional methods to detect the malware are falling apart. Cybercriminals are regularly coming up with smarter ways to bypass the security programs and infect the network and systems with different kinds of malware. The thing is, currently, most antimalware or antivirus programs use the signature-based detection technique to catch the threats, which is ineffective in detecting the new threats. This is where Artificial Intelligence can come to rescue.


AI and Machine Learning Algorithms are Increasingly being Used to Identify Fraudulent Transactions, Cybersecurity Professional Explains

#artificialintelligence

The retail banking sector has been hit with numerous scams during the past few years. Cybercriminals are now also beginning to increasingly go after much larger corporate accounts by launching sophisticated malware and phishing attacks, according to Beate Zwijnenberg, chief information security officer at ING Group. Zwijnenberg recommends using advanced AI defense systems to identify potentially fraudulent transactions which may not be immediately recognizable by human analysts. Financial institutions across the globe have been spending a lot of money to deal with serious cybersecurity threats. They've been using static, rules-based verification processes to identify suspicious activity.


How hackers are weaponizing artificial intelligence - TechHQ

#artificialintelligence

In the wrong hands, AI is proving dangerous. In an age where everything is becoming connected and data is regarded as a business's most valuable commodity, cybersecurity continues to diversify in a hyper-competitive marketplace. Set to hit a worth of US$248 billion by 2023, the prosperity of the sector is down to the constant growth and mutations of cyberthreats, which every year demands higher caliber weaponry with either better precision or a wider spread. Cybercrime, today, is where the money is. The tools to enact it are widely available even to non-technical individuals.


How AI will automate cybersecurity in the post-COVID world

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By now, it is obvious to everyone that widespread remote working is accelerating the trend of digitization in society that has been happening for decades. What takes longer for most people to identify are the derivative trends. One such trend is that increased reliance on online applications means that cybercrime is becoming even more lucrative. For many years now, online theft has vastly outstripped physical bank robberies. Willie Sutton said he robbed banks "because that's where the money is." If he applied that maxim even 10 years ago, he would definitely have become a cybercriminal, targeting the websites of banks, federal agencies, airlines, and retailers.


SEC and FINRA Provide Guidance Regarding Cybersecurity, Artificial Intelligence, and Digital Assets

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The U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) made several regulatory announcements this summer relating to cybersecurity, artificial intelligence (AI), and digital assets. These announcements are detailed below and include a FINRA summary report on the uses of AI in the securities industry, a FINRA regulatory notice regarding its members' activities relating to digital assets, and a risk alert from the SEC's Office of Compliance Inspections and Examinations (OCIE) on increased cybersecurity threats. On June 10, 2020, FINRA issued a summary report regarding existing and emerging uses of AI by securities industry participants. For a more detailed discussion of FINRA's summary report, please see our previous update. On July 9, 2020, FINRA reissued a request that member firms continue to proactively engage with their FINRA risk monitoring analyst regarding any type of digital asset activity, current or planned, similar to requests made in 2018 and again in 2019.


Intelligent ways to tackle cyber attack

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In early March 2020, UK artificial intelligence (AI) security startup Darktrace was able to contain the spread of a sophisticated attack by Chinese cyber espionage and cyber crime group APT41 exploiting a zero-day vulnerability in Zoho ManageEngine. In a blog post describing the attack, Max Heinemeyer, director of threat hunting at Darktrace, wrote: "Without public indicators of compromise (IoCs) or any open source intelligence available, targeted attacks are incredibly difficult to detect. Even the best detections are useless if they cannot be actioned by a security analyst at an early stage. Too often, this occurs because of an overwhelming volume of alerts, or simply because the skills barrier to triage and investigation is too high." Heinemeyer says Darktrace's Cyber AI platform was able to detect the subtle signs of this targeted, unknown attack at an early stage, without relying on prior knowledge.