Tag Archive for: ceo

AI not immune to hacking, says Hon Hai Research Institute CEO

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Hon Hai Research Institute CEO Wei-Bin Lee. Credit: DIGITIMES

AI has permeated well into the modern society playing a crucial role in a wide variety of applications, but AI systems, just like all kinds of computer operating systems, can hardly avoid being hacked. Therefore how to make them stay immune to attacks has become a common goal for all those engaged in the AI technology development, Wei-Bin Lee, CEO of Hon Hai Research Institute under Foxconn Technology Group, has said.

AI is a powerful tool that can help users quickly analyze data, seek correlations between different data, and make inferences or even decisions, but whether it can go wrong or be deceived seems to be an issue rarely mentioned when people discuss AI, Lee noted in a pre-event interview ahead of DIGITIMES-organized 2022 Taiwan AI Expo running May 4-6.

Once hacked AI models go wrong, he continued, the impact will be hard to estimate, especially those with high security requirements, such as systems for self-driving cars

The value of AI cannot be highlighted via innovative algorithms alone, and instead, many supporting or complementary innovations such as new workflows and new business models are also needed to enable successful AI-based IT application services. In other words, AI can help enterprises differentiate their services and achieve sales breakthrough in the market, Lee indicated.

While hackers used to attack the most vulnerable parts of IT systems, will they switch to attack AI models? And will it be easier to attack AI models than IT systems? Or will attacking the AI model make certain goals easier to accomplish? All these issues are naturally what should be taken into account during the early development of AI technology, Lee said.

AI models are complex logics learned from training data. But when people deploy AI models on systems, there are often corner cases where the models cannot be accurately recognized, as the cases are not included in the training data. Actually, many such cases have been found in the application of AI to self-driving systems, according to Lee.

Malicious AI manipulations

There is no problem in AI itself, Lee stressed, and the real problem is that some people…

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CEO MEMO: It’s time for technology to take a seat at your boardroom table

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Rising international conflict is sparking fears of serious cyber-attacks, the cost of cyber insurance is increasing dramatically and ASIC has taken proceedings against a company for data breaches: It’s safe to say that technology and cyber security are increasingly hot issues at the boardroom table this year.

Duke University Professor, Campbell Harvey, has already identified SWIFT, the global system for secure financial communications, as a potential target for Russian cyber warfare, noting that there is no ‘viable backup system in place.’ Although SWIFT is well defended, a cyberattack would potentially leave many organisations exposed.

It’s a timely reminder that, while once considered a niche skill, being fluent in technology is now a core necessity for directors. It is no longer enough to have IT support on speed dial, and ‘out of scope’ will not absolve directors from responsibility.

Feeling a little unprepared right now? You are not alone.

Our Future of the Board report found cyber security and data privacy and understanding the risks of new technology, governance and compliance are set to be the major technological disruptors by 2025.

So here’s a shortlist of some steps you can take immediately to reduce your cyber risk:

  • level up
  • be vigilant
  • insist on best practice — don’t just encourage it.

Level up

It’s time for you to evolve into the tech-savvy version of yourself because that is the leader your organisation needs. Take the small steps now to start that chain reaction. Expand your reading list, learn the terminology, and start attending cyber information sessions.

We recently held a webinar focusing on changes to privacy and cyber legislation, led by an expert panel across different sectors. With more than 300 registered to attend, it was one of our strongest events so far this year. The consistent message across the panel was: ‘keep it simple.’ IAG’s Company Secretary, Jane Bowd had this advice for directors: ‘Any deficient action by a board as opposed to taking no action at all is the worst offence… ASIC does not demand perfection for companies, but they do want to see progress and attention being paid.’

We will keep holding a…

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Datto CEO repeats need for MSPs to bolster security

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All the signs are pointing to this being a big year for managed service providers (MSPs) and the security industry, with the prospect of tighter regulations and more consolidation moves across the industry to ensure the channel has access to the right tools and skills.

Headlines were generated last week by the government revealing that it was considering updating regulations around supply chain security to include MSPs, with the threat of up to £17m fines being handed out to those that failed to show responsibility around protecting data.

Even before that announcement, the industry was stepping up its efforts to increase security levels. Datto is one an example of what that looks like in practice, with its recent move for threat detection and response player Infocyte.

Tim Weller, CEO of Datto, has been consistently talking about the need for MSPs to increase their security levels and repeated his call for the industry to do more on the topic.

“If MSPs aren’t already hearing that from their SMEs, if the government doesn’t mandate it, competition will. You will lose your clients to MSPs that show better in the security arena,” he added. “You’re in the security business.”

He said that there were several implications of accepting a responsibility for personal and client security: “The first one is get your own house in order. The answer to that is not to run away from your tool sets and worry about your vendors.

“You have to have software tools, including RMM [remote monitoring and management], which has obviously generated some concern for people, [but] it’s an important security tool. You just need to choose vendors that are very secure.”

Weller said that there is also a need to evolve a proposition, which was why Datto added detection and recovery to its armoury with the Infocyte buy.

“In the security business, we talk about protect, detect and respond. There are these stages, more frontlines, but let’s prevent the bad things from happening,” he said, adding that the acquired technology would be integrated into its RMM platform.

Weller has banged the drum for the MSP community throughout the pandemic, arguing that they have and continue to…

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AnChain.AI CEO explains crypto hack, Tornado Cash, and emerging Web3 security sector

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AnChain.Al Co-Founder & CEO Victor Fang joins Yahoo Finance Live to break down the significance of the crypto.com hack, what this means for the future of the cryptocurrency market, the rise of Tornado Cash, and preventative steps one can take to protect themselves from hacks.

Video transcript

[MUSIC PLAYING]

BRAD SMITH: Welcome back to “Yahoo Finance Live,” everyone. Crypto hack attack. Bad actors were able to launder $15 million worth of Ethereum from a major crypto exchange using a service called Tornado Cash. And our next guest is here to explain how Tornado Cash works and the steps investors can take to protect themselves. That’s part of our “Crypto Corner” segment presented by tastyworks.

And with us today, we’ve got Victor Fang, who is the AnChain.AI co-founder and CEO. We’ve also got Yahoo Finance’s own David Hollerith joining us now. Let’s dive right in, in the interest of time here. Victor, I want to go to you first here. Help us break down the significance of this Crypto.com hack that took place and the significance that it places, once again, around security within the space too.

VICTOR FANG: Absolutely. Thanks for having me here. So, yeah, Crypto.com got hacked, right, and then $15 million being sent to Tornado Cash and other mixers a few days ago. And, I mean, we’ve been following these incident and I think it’s probably related to the two-factor authentication hack. It is not on the blockchain. I want to highlight is not on the blockchain or smart currency or anything like that, but it’s actually on the internet cybersecurity of the countermeasure that that company probably have done poorly. And this is actually all related to this emerging sector in cybersecurity called the Web3 Security. And Web3 Security is all around protecting crypto, smart contract, your NFTs, and all blockchain digital assets.

DAVID HOLLERITH: Yeah, so, Victor, can you try to explain–

VICTOR FANG: Yeah, and–

DAVID HOLLERITH: Can you explain what a mixing service is just to give our audience a little more context?

VICTOR FANG: Absolutely. So, so far, there are three different kinds of major mixing services, right? So I link the layer one, for example, Monero, Zcash, and another one is…

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