Cyber Threat in Digital Market

How to succeed in business without really trying...…………...Shepherd Mead (Title of book, 1952)

The pandemic a Human virus (Covid19) is changing how we work, study, digest news, and entertain ourselves.

Social app usage is exploding, daily downloads of Houseparty have risen 25x.
Collaboration apps are now household names, worldwide daily downloads of Zoom's mobile app have increased by 14x

The virus has forced the entire office online, making companies reliant more than ever on their digital systems.

To stay competitive in the marketplace we have to work remotely and sometimes at home.

Effective Tips:

1. Start your day early
2. Structure your day as you would in the office
3. Choose a dedicated workspace

Zoom, having skyrocketed in popularity, has experienced such a surge in videoconference hijacking “Zoom-bombing.”

The stakes of protecting our digital systems from a cyberattack could not be higher.
Once a cyberattack occurs, companies and employess are largely on their own. They have to scramble to counteract the attack and eliminate the threat.

Effective Tips:

1. Stay up to date on current scams.
Make sure all employees are aware of the most current scams and that your information security program has prepared a defense.

2. Password-protect your videoconferences.
To protect your videoconferences, do not post the link publicly. Make sure to require a meeting password, share the link and password only with authorized guests, and lock the meeting after it begins

3. Enable multi-factor authentication everywhere.
Enabling MFA will stop all but the most sophisticated threat actors and it should be used on all accounts that are used by the company

4. Determine an alternative method for senior leadership to communicate.
If the unthinkable does happen and an attack brings down your company systems, how will senior leadership communicate among themselves and with employees?

5. Review your incident response plan.
Every company should have an up-to-date, written plan in the event of an attack. It should be crystal
clear as to who is to do what and who you will call for outside assistance.

6. Check your cyber-insurance policy.
Do you have good cyber-insurance? These policies have become more comprehensive and cover more than they did a few years ago.

7. Educate your employees.
Train your employees on cyber security awareness and special care is needed as hackers try to take advantage of the crisis and a disrupted workplace

Contact us for your Cooperate Training

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Pandemic Crises and Opportunities

Technology does not have much function until it is applied against a product in time with quality and need...........Emmanuel Sodipo




It’s possible that coronavirus will change how we work. As companies encourage employees to move to remote working environments, entire countries are being placed on lockdown and markets are becoming more volatile.

The financial and real economy risks are interrelated in two ways: First, a prolonged Covid-19 crisis could drive up the number of real economy bankruptcies, which makes it even harder for the financial system to manage. Meanwhile, a financial crisis would starve the real economy of credit.

The future may seem bleak right now, but there are upsides.

The biggest challenge of the current episode of Covid19 is managing uncertainty - crisis against opportunity -

When events force rapid changes in behavior, people adopt innovations; a unique opening for creative entrepreneurs to break through.

Looking back on prior eras of recession, conflict and natural disasters, each period provides a fertile ground for new ventures:

In 1665, Cambridge University closed because of the plague. Issac Newton quarantined himself at his childhood home. It was the most productive time of his life. He discovered the calculus and the laws of motion.

Thomas Edison launched General Electric right as the nation was heading into the Panic of 1893, a period of 16 months where business activity dropped nearly 40% across the nation. Nevertheless, the company persisted and went on to be one of the original 12 companies listed on the Dow Jones Industrial Average in 1896, where it remained for over a century.

In 1937–1938, during the recession, William Hewlett and David Packard decided to formulate a plan for their new electronics company, Hewlett-Packard. Still feeling the sting of the recession, the duo incorporated their business on January 1, 1939, and would go on to build a global computer powerhouse.

Fred Smith founder of  Fedex launched the business right on the tail end of the Recession of 1969–1970. Yet he was able to overcome the challenge and would go on to pioneer industry and grow a business that in 2019 delivered over 6 million packages a day.

Economist initially said ‘Is this going to be a V-shaped recovery or is it going to be a U with
a gradual recovery or is it going to be an L with stagnation or a W, a double dip.

what if it is not a V, U, L, W?

Output is down. Consumption is down. Capex is down. investment is down.
Exports are down. Imports are down.

What if it is an I. The concept of a straight line down?
We can only guess on the extent of great discoveries, ideas, and innovations that could arise from this ongoing crisis.

Some Opportunities.
While the rest of the economy is tanking from the crippling impact of coronavirus, business at the biggest technology companies are holding steady — even thriving.

1 Increase in demand for Cloud computing platforms
2 Increase in demand for Grocery delivery apps
3 Increasing usage of Remote and collaboration tools
4 Increase in Video streaming sites and social media platforms
5 Increase Video game usage and Live streaming
6 Increase intime and money spent on Phones.

Stay Creative and See You at the Top

Weaponizing Uncertainties

Government of the busy by the bossy for the bully..............Arthur Seldom (1990 British Economist 1916 - 2005)

Both the US and China have demonstrated they are willing to weaponize global trade and supply chains.
Russia and Saudi are weaponizing oil supply

When economies politicize their most important trading relationships, innovation and supply chain systems become more regional and less global.

As the rifts widen, they’ll risk becoming permanent, casting a geopolitical chill over global business.

Global geopolitics will need to factor a broader rise of Asia; A world comprising of three major blocs.
While EU promotes a citizen-centric model, China a state-centred one. The US lacks a unifying message, with an inconsistent and unilateral foreign policy around the globe. America’s status as the home of opportunity and world’s moral guardian is weaker.

Significant players whose alignment is unclear, includes Russia, brexit Britain, the major African and Pacific economies.

Demanding a seat at the table, are the major technology platforms;
Multinationals have become influential political actors as governments shaped global trade, regulatory, and tax regimes in their favor. These firms have in turn exerted influence on policy.

A Recent Survey:
1- Believe that Google, Amazon, Apple, Microsoft, Netflix and YouTube have an overall positive
   effect on society, unlike Facebook and Twitter who have the highest negative impact score.
2- 56 percent said the government should break up tech companies if they control too much of the
   economy

Larger cities bring those super-linear benefits of greater innovation, but they also see non-linear increases in the incidence of public health problems.

Growing cities in Africa and Asia may witness the challenges of urbanisation and may prove a fertile environments for innovation at the edge.

Intellectual property laws should change as economies continue their rapid shift towards intangible rather than tangible assets. As work shifts away from the bundle of full-time employment and a welfare net, a new model is also required

We do not always have enough clarity of when technical breakthroughs will occur or how political forces will shape the global influence of technologies, health care or stock market; Hence unfortunately economies weaponize uncertainties.

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AI and Business

An idea does not pass from one language to another without change --------(Miguel de Unamuno 1913)

Recent estimates put the productivity impact of information and communications technology (ICT) and early digital technologies such as broadband at 0.6 percent annually during the 2000s

AI is already relatively applicable to real business problems and can have significant
impact in areas including marketing and sales, supply chain management, and manufacturing

Research has found that the introduction of robots in manufacturing and the introduction of IT accounted for 0.4 percent and 0.6 percent in annual productivity increases, respectively.

The EU has called for $24 billion to be invested in AI research by 2020.

The net effect on GDP and labor markets show that AI could add around 16 percent to global output by 2030, or about $13 trillion, compared with today. This would be incremental value created in addition to current global output.

Virtually all workers will need to adapt to work alongside machines in new ways

In fact, developing economies could potentially leapfrog advanced ones if they were to strengthen core enablers. An absence of legacy, inefficiencies in various parts of the economy, and the role of smart capital in overcoming skills issues may present attractive opportunities for the commercialization of AI use.

Two key questions?

1- How can individuals develop the skills that will be needed to power the AI economy and embrace       a culture of lifelong learning
2- How can businesses embrace AI and automation safely, addressing issues including data security,
   privacy, malicious use, and potential issues of bias?

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AI and CyberCrime

A citizen, first in war, first in peace and first to the hearts of his countrymen--------(Henry Lee on death of General Washington 1800)

In the ever-changing cyberthreat landscape, organizations will have to defend against increasingly complex and interconnected risk.

For example. 

The Ukraine power grid attack used spear phishing, industrial control, and disk wiping techniques that were all readily available on the black market, many of them previously stolen from NSA.

Checks and balances do not work as well for cyberwarfare where plausible deniability or even misdirecting the blame to someone else is common.

As organizations continue to grow, so do the size and complexity of their technology and data estates,
meaning attackers have more surfaces to explore and exploit.

AI has the potential to accelerate the volume of attacks as automation of tasks and enhancement of malicious services further reduce barriers of entry and execution of attacks.

The tools to accomplish attacks are increasingly available on the Dark Web at decreasing costs, including cyber weapons stolen from the NSA and CIA. 

Adversarial AI: 

Adversarial attacks involve manipulating AI systems by introducing carefully crafted inputs designed to deceive or mislead the algorithm. In the context of cybersecurity, adversarial AI techniques can be used to evade detection mechanisms, bypass security measures, or fool AI-powered defense systems. Researchers are exploring ways to develop robust AI algorithms that are resistant to adversarial attacks.

Deepfakes and Impersonation- Cyber attackers can use AI to create deepfake voices and impersonate high-ranking executives. A well-executed deepfake could deceive employees into authorizing large unauthorized fund transfers, exploiting human trust to circumvent security measures.

Data Tampering and Fabrication- Attackers can use AI to tamper with system data, creating an alluring yet entirely fabricated stock portfolio. The line between genuine and manipulated information blurs, posing risks to financial systems and investor confidence.

AI is not a single technology but a family of technologies. There are five broad categories of AI technologies: computer vision, natural language, virtual assistants, robotic process automation, and advanced machine learning. Hackers will likely use these tools to varying degrees.

Responsible AI Deployment:

Organizations must balance the benefits of AI with ethical considerations. Transparent algorithms, robust authentication mechanisms, and human oversight are crucial.

AI-Driven Defense: 

On the flip side, AI can also be used for cybersecurity purposes to detect, prevent, and respond to cyber threats more effectively. AI algorithms can analyze vast amounts of data to identify patterns, anomalies, and potential security breaches in real-time. AI-powered security solutions can enhance threat detection capabilities and help organizations stay one step ahead of cybercriminals.

Skills Gap: Addressing the cybersecurity challenges posed by AI requires a skilled workforce with expertise in both cybersecurity and AI technologies. However, there is a significant shortage of cybersecurity professionals with AI knowledge and vice versa. Closing this skills gap will be essential for developing effective AI-driven cybersecurity solutions and combating cyber threats effectively.

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Seasons Greetings

The holiday season can be a profitable time for businesses, but it requires careful planning and execution to make the most of the opportunities it presents while effectively addressing the challenges that may arise.

Personalize the Shopping Experience- Tailor your marketing messages and product recommendations to each customer's preferences and past purchase behavior. Personalization can help increase engagement and conversion rates.

Provide Excellent Customer Service- During the busy holiday season, prioritize providing exceptional customer service. Respond promptly to inquiries, address any issues or concerns, and ensure a positive shopping experience for every customer.

Challenges:

Increased Competition- More businesses are vying for consumer attention during the holiday season, making it a highly competitive time.

Supply Chain and Inventory Management- Ensuring that you have enough inventory and that supply chain disruptions don't impact your business is crucial.

Seasonal Hiring and Employee Management: Many businesses need to hire seasonal staff to handle increased demand. Effective training and management are essential.

Shipping and Delivery Challenges- Meeting customer expectations for timely shipping and delivery can be challenging, especially during peak holiday demand.

Customer Service- With higher sales volumes, providing excellent customer service becomes even more critical. Be prepared to handle inquiries, returns, and exchanges efficiently.

Managing Cash Flow: Increased expenses related to marketing, inventory, and staffing must be balanced with expected revenue.

Have a Fun Holiday......A Colorful Christmas 

Police the Machines

Machine harm, like any other vice, requires no motive outside itself. It only requires opportunity ............... Emmanuel.Sodipo

Technology is now deeply intertwined with our socio-technical systems at all levels. Software now constrains behavior with an efficiency that no law can match. Technology is literally creating a new world and policies can’t keep up.

Getting it wrong has become increasingly catastrophic and a growing constituency is starting to hold reckless tech businesses accountable.

Consider artificial intelligence (AI), the technology that has the potential to augment human decision making with something more scalable and faster. But also has the potential to entrench bias and codify undesirable acts. It can be hacked in new ways with new capabilities to disrupt and harm.

Cognitive Architectures:

These models simulate human cognition, including perception, memory, reasoning, and problem-solving. Examples include ACT-R (Adaptive Control of Thought-Rational) and Soar.

Evolutionary Algorithms:

Inspired by natural evolution, these algorithms optimize solutions by evolving a population of potential solutions over generations. Genetic algorithms and genetic programming fall into this category.

 Other technologies we should police are:

• Critical Cybersecurity vulnerabilities 
• Role of social media platforms in propaganda 
• Bioengineering such as genome editing and synthetic biology.
• Robotics as a common consumer technology

Ethics owners and policy makers must navigate between avoiding measurable downside risk and promoting the upside benefits. Arguing against releasing a product before it undergoes additional testing for racial or gender bias is one thing. Arguing that a more extensive test will lead to greater sales is another thing.

Both are important but one sits with compliance the other with marketing. 

We should aim to achieve a robust process rather than a substantive outcome.

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