Showing posts with label Artificial Intelligence. Show all posts
Microsoft recently introduced Cyber Signals, a quarterly cyber threat intelligence brief informed by the latest Microsoft threat data and research. The content offers an expert perspective into the current thread landscape, discussing trending tactics, techniques, and strategies used by the world's most prolific threat actors.
"Online threats are increasing in volume, velocity, and sophistication. From IoT to nation-state activity, new ransomware tactics to insights into the cybercriminal economy, Cyber Signals provides trend analysis and practical guidance to strengthen the first line of digital defense,” said Vasu Jakkal, Corporate Vice President, Security, Compliance, and Identity of Microsoft.
"We hope it’s a valuable resource to Chief Information Security Officers, Chief Information Officers, Chief Privacy Officers, and their teams, as they continue to evolve technologies, policies, and processes against the constantly changing threat landscape."
The Cyber Signals brief aggregates insights from Microsoft's research and security teams on the frontlines, including analysis from the company's 24 trillion security signals combined with intelligence monitoring of more than 40 nation-state groups and 140 plus threat groups. The first edition of Cyber Signals unpacks the topic of identity and maintaining good security hygiene to mitigate potential identity risks.
With increasing numbers of people working remotely and accessing their business apps and data from multiple locations, including home offices, coworking spaces, and other remote locations, threats have risen dramatically in the past two years. However, there has been low adoption of strong identity authentication such as multifactor authentication (MFA) and passwordless solutions.
Microsoft’s research shows that across industries, only 22 percent of Microsoft's Cloud Identity Solution, Azure Active Directory (AAD), users have implemented strong identity authentication protection as of December last year. In 2021 alone, Microsoft blocked more than 25.6 billion AAD brute force authentication attacks, 9.6 billion malware threats targeting enterprise and consumer customer devices, and intercepted 35.7 billion phishing emails with Microsoft Defender for Office 365.
“MFA and passwordless solutions can go a long way in preventing a variety of threats and we’re committed to educating customers on solutions such as these to better protect themselves,” said Jakkal.
Every day, Microsoft analyzes over 6.5 trillion signals to identify emerging threats to protect customers and in response to the increasing cyber threats in the Philippines and globally, Microsoft will invest $20 billion over the next five years to accelerate efforts to integrate cyber security by design and to deliver advanced security solutions.
Microsoft Starts CYBER SIGNALS Quarterly Intelligence Brief
"For us at UnionBank, it's very important to put the customer at the center, and therefore, we seek to develop customer-centric AI solutions. Besides looking at AI solutions for banking-specific features, we're also looking at innovative solutions beyond banking" mentioned Dr. Heinrich. She likewise noted that solutions providers should consider value-adds for clients to enable them to have customer relationships in a more holistic way. This would assist clients in their areas of interest or in what they want or need to spend money for.
"We can actually see that this is really a customer need when looking at major topics that come up in personal finance forums on the web. We can see that less than 20 percent of the conversations actually mention banking products or services" Dr. Heinrich emphasized.
UnionBank has been continuously exploring partnerships with external players in the industry or academia to provide more value for its customers. This, Dr. Heinrich said, will enable the Bank to be fast with innovative advances. She then cited AI use cases in healthcare as an example, with a hypothetical use case where a bank can get access to a large pool of data of patients with certain chronic diseases.
According to Dr. Heinrich, "By running machine learning models on this data, we can give financial advice for the coming months and years to be able to cover the cost for the treatments and have patients select their preferred life-enhancing products or services accordingly. And we can also easily enhance the data set with our own data of the customer, and that can be shared back to the care provider, if the patient agrees."
There really are a lot of possibilities collaborating with AI tools in financial services.
