Common Cybersecurity Risks

Digital transformation expands the attack surface of businesses by introducing a multitude of devices and platforms into corporate networks. This complexity provides cybercriminals with numerous entry points.

“The rapid expansion of connected technologies is identified as the top security risk.“

Businesses must recognize these vulnerabilities and implement comprehensive security strategies to protect against potential threats.

In recent years, manufacturing has experienced a digital transformation, fuelling growth, efficiency and profitability. Yet this trend has created a range of #cybersecurity issues.

This new white paper outlines three guiding principles to support #manufacturing and supply chain… pic.twitter.com/g1aN94ll9M

— World Economic Forum (@wef) April 29, 2024

IoT Vulnerabilities

IoT devices are often targets for cyber-attacks due to inadequate security measures like weak passwords, outdated firmware, and unsecured data transmissions. The convenience and efficiency gains from these devices are undeniable, yet their integration brings significant risks. It’s crucial to enforce stringent security protocols to shield networks from unauthorized access through these gateways.

Insider Threats

Not all security risks come from outside; insider threats, either malicious or accidental, are a significant concern. Errors such as misconfigured settings or inappropriate access privileges can lead to severe data breaches. Reports indicate that “30 percent of CISOs view insider threats as a major risk,” highlighting the need for comprehensive training and stringent access controls to mitigate these risks.

Cybersecurity Measures

To combat the vulnerabilities introduced by digital transformation, businesses must adopt proactive and dynamic security measures:

Implement Strong Access Controls

Limiting access based on user roles can dramatically reduce risks. By ensuring employees only access necessary data, businesses minimize potential unauthorized exposures. This strategy is vital as negligent insiders are a primary security threat in many organizations.

Develop a Comprehensive Incident Response Plan

Preparedness is key to mitigating damage from cyber incidents. A robust incident response plan enables a swift action, containing breaches and minimizing data loss. Regular drills and updates to this plan ensure that all team members know their roles in an emergency, making it possible to react quickly and effectively.

Use Network Segmentation

Isolating critical data through network segmentation can prevent the spread of breaches. By creating clear boundaries within networks, businesses can control how data is accessed and shared, significantly reducing the likelihood of widespread cyber attacks.

Secure IoT Devices

Regular firmware updates and the avoidance of default passwords are simple yet effective ways to enhance the security of IoT devices. Such measures ensure that devices are less vulnerable to attacks and that the network remains secure.

Locking Down the Future…

Navigating the cybersecurity landscape in digital transformation is an ongoing journey that requires vigilance and adaptation. By understanding the risks and implementing strategic defenses, businesses can protect themselves from the evolving threats in the digital world. Are there specific strategies you’ve found effective in managing cybersecurity risks? Share your experiences and insights in the comments below to help others fortify their defenses!

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To compete in a world where production is moving from commoditisation to personalisation, today’s leading engineers and manufacturers need to streamline workflows using high-performance workstations. Learn how to tackle these challenges while incorporating new technologies such as IoT to enhance collaboration and improve workflow.

Learn more about Dell Technologies solutions powered by Intel^®.

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The Great Resignation and its continued impacts have shown that top talent will not remain at an organisation where they don’t feel valued―either literally in the form of compensation and benefits, or figuratively in terms of professional development or career advancement opportunities. To attract and retain top talent, organisations need to shift towards practices that prioritise the employee experience (EX) as much as the customer experience (CX.)

This eBook offers an insightful look at the symbiotic relationship between employees and employers and unpacks the essential need for prioritising EX in order to retain top talent.

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In a rapidly evolving digital landscape, the banking, financial services, and insurance (BFSI) sector is embracing a revolutionary technology: edge computing. This paradigm shift, moving computing closer to data sources, is akin to transforming a once-clear path into an efficient superhighway, bypassing the congested routes of traditional data processing.

The Evolution of Computing in BFSI

Imagine a solitary box in an open field, easily accessible but increasingly obstructed over time by natural growth. This metaphor, eloquently portrayed in a recent discussion on technological evolution, mirrors the BFSI sector’s journey. As noted, computing continues to evolve with more applications and increased functionality, resulting in a dense and cluttered thicket slowed by vast amounts of data. Edge computing emerges as the solution, decentralizing resources to streamline and expedite data processing.

Gaining an Edge in Data-Rich Industries

The world anticipates generating over 460 exabytes of data daily by 2025. BFSI, a data-intensive industry, stands at the forefront of this explosion. Traditional data processing, likened to “only building a two-lane highway into a major metro area whose population exploded,” is proving inadequate. Edge computing, by moving data centers closer to data generation points, offers a remedy to this bottleneck.

1. Better Customer Experience (CX)

In the realm of BFSI, customer experience hinges on speed and accuracy. Edge computing significantly reduces transaction times, enhancing customer satisfaction. Deloitte highlights its potential to offer personalized and relevant content delivered through preferred digital channels. In regions with limited connectivity, it ensures continued financial operations, thus broadening financial inclusivity.

2. Improved Fraud Detection & Data Security

Security in BFSI is paramount. Edge computing minimizes latency and potential attack vectors, creating a more secure environment. Real-time transaction monitoring and anomaly detection become possible, significantly reducing the risk of fraud. IBM notes that edge computing allows for immediate analysis of ATM video feeds, enhancing security measures.

3. Autonomous IoT

The Internet of Things (IoT), especially in insurance, benefits greatly from edge computing. It enables real-time data processing and alerts, facilitating immediate responses to incidents like water leaks. This integration not only aids in risk management but also offers potential for policy discounts, as noted by Statista’s forecasts on the growing smart home market.

Rounding Out Edge Computing: Key Considerations

For BFSI institutions considering edge computing, remember it’s an additive technology. A selective approach, a zero-trust security model, and a hub-and-spoke infrastructure organization are crucial for effective implementation. Hyper-automation and intelligent automation at the edge further enhance operational efficiency.

Conclusion: The Future is Now

Edge computing in BFSI is not just a futuristic concept; it’s a present-day reality transforming the financial landscape. By bringing the data center closer to the data source, BFSI institutions are paving the way for faster, more secure, and more efficient operations. We invite you to share your thoughts and experiences on how edge computing is shaping the future of finance. Your insights are valuable to us, and we encourage a lively discussion in the comments below.

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Unleashing Creative Potential

UIP has proven to be a cornerstone in nurturing and unveiling the potential of young tech enthusiasts, providing a robust platform to innovate, learn, and grow. Participants will be mentored and guided by the experienced hands of Unisys professionals, offering a unique opportunity to transform textbook knowledge into real-world innovative solutions.

This year, UIP is weaving its magic around emerging, solution-oriented technologies. Artificial Intelligence, quantum computing, and data analytics are at the forefront, presenting students with an arena to showcase their creativity and technical prowess.

“India’s digitally skilled talent pool has grown synonymous with tech innovation in recent years, making it the home of some of the world’s most talented youth in IT,” said Sumed Marwaha, managing director of Unisys in India.

The Unisys Innovation Program is a testament to this belief, aiming to equip participants with specialized technical skills for the future.

Themes Unveiled

With ten distinct themes including AI ubiquity, connected world (IoT), zero trust security, and quantum computing, participants are spoilt for choice. Each theme is intricately designed to challenge and inspire, pushing students to the zenith of their creative and technical abilities.

Driving Innovation in India

According to Sumed Marwaha, the program underscores the importance of a platform where young tech minds bring their innovative breakthroughs to the forefront of India’s technology revolution. The fusion of creative thinking, technical expertise, and hands-on learning is the crux of this unique experience.

About the Unisys Innovation Program

With over 76,500 student submissions since 2009, UIP stands as one of the country’s highly anticipated technical competitions. It’s not just a challenge but a nurturing ground for the aspiring innovators and future leaders in the tech world.

In Summary

As the curtains rise for the 15th Annual Unisys Innovation Program, the anticipation and excitement are palpable. Each year, the event morphs into a battleground of innovation, creativity, and technical expertise, and this year is no different. With the inclusion of contemporary and future-oriented technologies, participants are not just competing but are also contributing to the vast world of technology.

We invite our readers to dive deep into this narrative, witness the transformation of ideas into innovations, and be a part of this enriching journey. Do you think programs like UIP are essential in bridging the gap between academic learning and real-world application? What theme excites you the most? Share your thoughts, insights, and anticipations in the comments section below. Let’s weave a tapestry of ideas and perspectives that is as diverse and innovative as the Unisys Innovation Program itself!

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AI Applications: The Catalyst of Transformation

At the heart of the summit was a universal acknowledgement: “AI applications are growing explosively and having a profound impact on people’s way of life.” This rapid evolution is steering enterprises from the digital realm into an intelligent world, where innovation and evolution of Net5.5G and data communication networks are pivotal.

A World Built on Intelligent IP Networks

Mark Oliver from Omdia Consulting set the tone with a prophetic insight: by 2030, the consumer landscape will be markedly different, with “consumers paying more attention to network quality and reliability.” AI and IoT technologies are the silent engines driving automation in retail, education, healthcare, and finance sectors.

Huawei’s Net5.5G Epoch

Zuo Meng of Huawei delivered an enlightening discourse on the advent of “400GE metro and 800GE backbone networks,” underlining the Net5.5G era’s dawn. It’s a world where mobile, home, enterprise, and campus users enjoy ubiquitous 10 Gbps connections, thanks to Huawei’s innovations in 400GE and 800GE interface technologies, network slicing, and Network Digital Map.

Realizing Ambitions and Transforming Networks

Vaughn David Naidoo of MTN South Africa unveiled the realization of MTN’s Ambition 2025 strategy. “MTN was the first to complete industry-oriented intelligent cloud-network construction,” he remarked, underscoring the rapid digital transformation that intelligent networking and Net5.5G facilitate.

Telecom Argentina’s Journey

Leonardo Gabriel Di Pilato shared Telecom Argentina’s strides in enhancing home broadband user experience through the deployment of 400GE technology. “The innovative intelligent BRAS solution,” he noted, “has shifted the carrier’s networks from passive response to proactive O&M.”

IPv6 Enhanced: Unlocking the Future

Robin Li, Huawei’s chief IP protocol expert, presented the dawn of IP intelligent networks through IPv6 Enhanced, marking it as the essential catalyst for network potential and the progression into an intelligent era.

In Summary

UBBF 2023, marked by Huawei’s groundbreaking revelations, has not just been a summit but a revelation of the future where Net5.5G, AI, and IP networks converge. As we stand at this technological crossroad, the collaborations, innovations, and visions unveiled promise a world of connectivity, efficiency, and innovation like never before.

We are eager to hear your insights on Huawei’s Net5.5G innovations and the transformative power of intelligent IP networks. How do you see these technological advancements shaping our future landscape? Your perspectives are invaluable – comment below and let’s delve deeper into this conversation!

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Seattle-based tech startup Unearth Technologies, known for its breakthrough construction mapping software, announced its acquisition by Southern California’s Procore Technologies. Specifics of the deal weren’t shared with the public.

Unearth Technologies’ Impact on the Industry

Unearth Technologies surfaced in the tech scene in 2016 and has been revolutionizing the construction industry with its innovative software, dubbed “OnePlace.”

This mobile software leverages geographic information system (GIS) technology to gather and unify construction project data within detailed maps. Amongst its roster of clients are notable contractors, utilities, and a multitude of Fortune 500 companies.

“The product has been deployed across arrays of diverse terrains from dams to air bases and dense forests, and has aided in the management of thousands of miles of buried utilities over the years” – Brian Saab, CEO and co-founder of Unearth Technologies.

Directorial Roles at Procore

The collaborative work of co-founders Brian Saab and Amy Hutchins will continue at Procore Technologies, after having previously worked together at Seattle travel software startup Buuteeq.

Accomplishments and Future Endeavors

Unearth Technologies’ journey thus far has been fueled by various funding rounds including a $7-million Series A round in 2019. Its notable roster of investors include Cercano, Madrona Venture Group, among others.

Amidst the recent slowdown in acquisition activity within the tech industry, largely due to increased interest rates and stubborn inflation, McKinsey has reported an 85% jump in investments in the architecture, engineering, and construction technology sector from 2020 to 2022.

We extend our congratulations to both Unearth Technologies and Procore Technologies on this exciting new chapter and anticipate the innovative strides this synergy will make in the future.

We’d love to hear what you think about this acquisition in the comments below.

For the latest and greatest scoop in the tech landscape, check out our homepage and please take the time to follow us on LinkedIn.

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AI and Edge Computing: Changing the Face of Video Surveillance

The advent of AI and edge computing has shifted the perception of surveillance cameras from being just security tools to intelligent Internet of Things (IoT) devices.

Lizzie Stokes, IoT Hardware & Devices and IoT Networks & Services Analyst at ABI Research, explains, “By harnessing new advancements in AI and edge computing, all areas of a business can consider surveillance cameras as intelligent IoT devices that can gather data and issue alerts without human intervention.” As Stokes highlights, this evolution allows surveillance cameras to potentially predict human behavior, a massive leap in the industry.

Non-Traditional Uses of AI Video Analytics

As these cameras grow smarter and more powerful, business sectors beyond security and monitoring teams are taking note. Marketing and HR departments are investing in video analytics solutions and smart cameras, recognizing their potential to boost company profits and streamline operations.

Stokes notes, “Business units use AI-equipped surveillance solutions to track customer spending and satisfaction and monitor employee health and safety.” Industries such as manufacturing and public administration are also utilizing smart cameras to identify manufacturing defects quickly and improve public safety, demonstrating the versatility of these devices.

The Evolution and Future of the Video Surveillance Market

The broad application potential of AI video analytics is contributing to a significant transformation in the video surveillance industry. Stokes states, “New use cases for AI video analytics are transforming the industry as more customers shift investments toward services that mine surveillance footage for operational insights.”

This shift has prompted an evolution in the business models and product offerings of video surveillance vendors. Furthermore, advancements in camera connectivity technology are unveiling new form factors like advanced body cameras for law enforcement and cellular trail cameras for hunters, enriching the market potential.

The Key Players in Video Surveillance Industry

The industry is witnessing a dynamic landscape with key players like Axis Communications, Honeywell, and Bosch making their presence felt. Motorola has also emerged as an important player after acquiring several popular video surveillance brands. However, Stokes also notes the controversial nature of the market, citing Chinese manufacturers Hikvision and Dahua as the “largest and most controversial companies in the video surveillance market,” due to national security concerns.

Market Challenges and Potential

Despite grappling with challenges such as international disagreements, privacy concerns, and the threat of increased regulation, Stokes remains optimistic about the future of the video surveillance industry. “Though the market is maturing now, it has the potential to be transformed by new, value-adding use cases and form factors,” she concludes.

About ABI Research ABI Research provides actionable research and strategic guidance to technology leaders, innovators, and decision-makers worldwide. They focus on transformative technologies reshaping today’s industries, economies, and workforces.

The intersection of AI and edge computing is not only transforming video surveillance but also shaping the future of several industries. As we continue to harness these technological advancements, we can look forward to a world where intelligent devices like surveillance cameras play a pivotal role in improving business operations and public safety.

What do you think about these advancements in AI and edge computing? How do you see this technology influencing your industry? We encourage you to share your thoughts and comments below.

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“Immortalizing Humanity” In a quest for immortality, ‘The Voices of Humanity’ team embarks on an awe-inspiring mission – Human knowledge preservation in a cosmic cloud. Inspired by science fiction marvels like the Avengers movie, this audacious project seeks to safeguard the sum of human achievements and wisdom, ready to be shared with the cosmos. Join us as we delve into the three pivotal tech thrusts – lasers, chips, and microbes – that propel this cosmic storage dream, and how visionary companies are shaping the future of preservation.

Tech Thrusts Towards the Cosmic Cloud:

“The possibilities are endless, and we owe it to the future generations to preserve the wealth of human knowledge,” says Dr. Emily Dawson, the visionary leader of ‘The Voices of Humanity’ project. Spearheaded by the groundbreaking NASA Innovative Advanced concepts funding, this endeavor focuses on three pivotal technological thrusts – lasers, chips, and microbes.

Lasers, with their remarkable ability to transmit data over vast distances, emerge as the backbone of this futuristic preservation technique. “Ground-based lasers will serve as the conduit between humanity and the cosmic cloud, carrying the essence of our civilization to the stars,” Dr. Dawson explains. The integration of these diverse technologies, however, poses a challenge, with only a few companies currently leading the way.

Tech Companies Shaping the Future:

Among the frontrunners, Cognex (CNGX) and Coherent (COHR) have witnessed meteoric stock surges in the last twelve months. Cognex specializes in cutting-edge micro-manufacturing equipment, with potential applications in data storage chips. On the other hand, Coherent stands as a trailblazer in producing highly functional lasers, utilized for precise cutting, and leading the production of liquid crystal displays.

“We believe in the convergence of technologies – lasers, chips, and microbes – creating a harmonious symphony to secure humanity’s legacy,” says Dr. Michelle Ramirez, Coherent’s CEO. As the demand for their products continues to rise, both companies envision a future where human knowledge finds eternal residence amidst the stars.

Expanding Frontiers of 3D Imaging Systems: The allure of 3D imaging systems has captivated the world, particularly with the potential of “3D Printers” revolutionizing manufacturing processes. Companies like Faro (FARO), renowned for providing portable, high-precision measurement and imaging systems, play a vital role in this transformation.

The medical sector, in particular, has witnessed groundbreaking innovations, granting countless individuals the gift of a fuller life. Dr. Jessica Collins, a leading researcher in the field, emphasizes, “Technological advancements in precision systems are changing lives, paving the way for unprecedented growth in the industry.” Institutional investors are keenly eyeing these developments, reflecting confidence in the sector’s future.

Lasers: The Catalyst of Technological Immortality:

As the demand for flat panel applications soared following Samsung’s triumphant flat-screen TV launch, the market for lasers experienced a significant boost. Microelectronics, scientific programs, biotechnological tools, and medical innovations have all benefited from the precision offered by laser technology.

In a remarkable turn of events, Apple’s decision to incorporate Coherent’s systems for manufacturing RGB-OLED screens in their upcoming iPhone 8 has further elevated Coherent’s market value. “We’re honored to contribute to the future of technology, and Apple’s involvement serves as a testament to the quality of our products,” beams Dr. Ramirez.

Conclusion:

The ‘Cosmic Cloud Project’ illuminates humanity’s yearning for immortality, symbolizing the relentless pursuit of a future where our knowledge and wisdom transcend the boundaries of Earth. With lasers, chips, and microbes forming the technological thrusts, visionary companies like Cognex, Coherent, and Faro are charting a path towards preservation.

What are your thoughts do you want to be immortalized? Also check out our new content every week updated on our website TECHINSIGHT.COM!

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IT leaders and their departments are becoming more business-focused – and not a moment too soon – realising the need to move faster and be more agile, in order to meet both strategic business goals and changing customer needs.

‘Fail fast and move on’, as the mantra goes, with the big picture being the emergence of startups and innovative thinkers who see the potential to disrupt markets with apps and sharing-economy services, but without the millstone of legacy systems – or, sometimes, any need to turn a profit before they’re snapped up by bigger platforms.

Once-core IT functions – such as the proverbial ‘keeping the lights on’ – are now outsourced commodity services, with the real value-add for the IT function being enabling the business to move at startup speed, while removing the barriers for employees to work when, where, and how they please.

Within the organisation, a flexible, agile, DevOps focus is emerging. Outside of it, cloud platforms, commercial 5G networks and services, artificial intelligence, machine learning, and other Industry 4.0 technologies, are rising and coalescing around the Internet of Things (IoT).

So far so good. But often overlooked in these megatrends is the role of communications service providers (CSPs); but it shouldn’t be, as we all become more mobile and reliant on them.

“CSPs’ ability to provide connectivity while leveraging multiple data sets gives them “a unique competitive edge to play with” in the 5G and IoT spaces, but it’s “not a foregone conclusion that they will win”. That’s the view of networking and communications provider, Ericsson, which has published a new report, Realising IoT Strategies, in the same week as Vodafone shared its own report on the IoT landscape.

According to Ericsson, digitalisation is “bringing both new friends and foes to CSPs, so they need to ensure they have the right strategic approach and pursue the opportunities that play to their considerable strengths.”

So what are those opportunities and strengths? CSPs may want to develop a cross-industry strategy such as data monetisation, says the report, while others may wish to devise a strategy targeting a vertical, such as transport and logistics, where the IoT has obvious impacts (as explored in a separate report on the Vodafone research).

However, the current momentum of digitalisation is causing the boundaries between many industries to become less defined, warns Ericsson, perhaps suggesting that a platform approach with different industry connectors may be the way ahead.

“Amidst all this change, CSPs are advancing their 5G and IoT strategies to provide greater value “both within and beyond connectivity”, explains the report. To compete, they must deploy their existing assets to defend and evolve their core businesses – such as “providing enhanced digital experiences, rolling out high-performance networks, and improving operational efficiency” – while exploring the opportunities for new growth that are enabled by 5G and the IoT.”

Ericsson says its own strategy is to help CSPs navigate through these uncertainties, by engaging strategically with their CXOs to help them define strategic intents in 5G and the IoT, how to best capture value, and whether they should focus on their existing core business or take on a larger role in the value chain.

Accordingly, Ericsson has developed a strategic 5G and IoT framework that has eight key dimensions: Strategic intent; consumer focus; enterprise focus; value chain position; go-to-market/ecosystem strategy; commercial model; portfolio and network strategy; and operating model. CSPs can use this framework to explore where their own 5G and IoT pursuits should be focused, starting with their positioning and differentiation in the market.

Taking a holistic approach across all eight dimensions is vitally important, says Ericsson, because only then can CSPs develop a unified view of their 5G and IoT priorities.

Based on its work with these companies to date, Ericsson reports that CSPs find five of the eight dimensions to be the most challenging:

• Strategic intent: CSPs tend to be too technology-focused and lack long-term strategic thinking about their 5G and IoT investments, says Ericsson. Even when they have that intent, they can be too ambitious about their execution ability. This means that their 5G and IoT strategies are often misaligned, putting their ability to capture 5G’s and the IoT’s potential at risk.
• Enterprise focus: What Ericsson calls CSPs’ “opportunistic approach” to targeting enterprises means their focus is diluted across many sectors. As a result, they face difficulty in providing meaningful 5G and IoT value to those segments. This problem is exacerbated by their miscalculation of the industry-specific expertise needed when targeting enterprises.
• Value chain position: Many leading CSPs want to assume larger roles higher up the IoT technology stack, but they often underestimate the capabilities required to reach a dominant position beyond connectivity and network provisioning. More, they may be taking competition from IT firms in the IoT stack too lightly, says Ericsson.
• Go-to-market/ecosystem strategy: CSPs are currently attempting to develop capabilities in-house and build solid partnerships for execution. They are also looking to compensate for their lack of experience and exposure to industry partners as they go to market.
• Operating model: CSPs commonly operate in silos, with isolated enterprise and network departments, causing disjointed strategic and operational approaches on 5G and the IoT. More, their IoT responsibilities tend to be scattered across the organisation.

“In short, it could be said that CSPs face the same transition challenges as many of their enterprise customers. And across all eight dimensions of Ericsson’s framework there are distinct gaps between CSPs’ current and intended positions. “These deltas must be bridged to reach strategic intents,” the report warns.”

And that’s not all. Most CSPs adopt an opportunistic approach to new revenue streams, but their desire is to follow a more well-defined strategy. Their opportunistic approach also means they tend to have a broad industry focus today while aiming to target a selected few in the future.

Given that many CSPs are part of larger conglomerates, a natural starting point for them would be to focus on the industries in which their groups are already operating. This would present some obvious advantages: easier access to the enterprise and the ability to scale and demonstrate initial use cases faster while improving the competitiveness of the parent company.

Most CSPs are also connectivity-centric, but have clear ambitions to capture the full value of 5G and move up the IoT stack to take on more profitable roles beyond connectivity, concludes Ericsson.

• In related news this week, Ericsson warned that growing media alarm about Chinese technology giant Huawei – whose activities in the UK have long been monitored by the security services – risks delaying the rollout of 5G networks and services in Europe.

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