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2017 Digital Evolution Report – CyberCrime, Digitization, Blockchain and Artificial Intelligence

Cyber-crime, Smart-Cities, Digitization, Blockchain and Artificial Intelligence are those words which really got the hype on the platform of IT in 2017. Cybercriminals have smacked many companies many times. Digitization is progressing despite lame internet connections. Blockchain became Gold Chain and Artificial Intelligence is experiencing an incredible revival.

Key Technologies 2017

Ransomware: The ransom and the cyber blackmailer

 

Ransomware remains a leader in digital security threats. According to ITRC Data Breach report, in 2015 more than 177,866,236 personal records exposed via 780 data security breaches, and the previous mentioned number lift up to 30% in 2016 with security breaches arising on multiple fronts, companies, healthcare systems, governmental and educational entities, and individuals started to realize how real the threat of cybersecurity attacks was. 2017 so far, was a very highlighted year for cyber-crimes. 519 Cyber-attacks were placed from Jan 2017 until September 2017 affecting financial sectors, health-care sectors, gaming companies, containing information about credit cards, health data of billions of people around the world. With all these attacks phishing, spying on webcams or networked household appliances (IoT) remain risky.

 

Very popular in this year’s cyber attack list are the #wannacry and Equifax data breach attacks. These attacks unbaled 300000 computer systems for 4 days and affected financial data on more than 800 million customers and 88 million businesses worldwide and more than 45% of all detected ransomware.

Cyber policies are currently very much in vogue, but in which cases of damage do these insurances actually comes in? ABA, American Bankers Association, explains how companies should best go about finding a suitable policy and what makes good cyber insurance.

 

The General Data Protection Regulation (GDPR): What needs to be changed?

 

Companies only have a few months left to prepare for the new European #DataProtection Regulation. On 25 May 2018, all companies managing personal data of citizens of the European Union will be required to comply with the new regulations and requirements of the General Data Protection Regulation (GDPR).

This regulation will impose significant new obligations on companies that manage personal data, as well as severe penalties for those who’ll violate these rules, including fines of up to 4% of global turnover or € 20 million highest amount being withheld. But what is to change concretely? Here is a “Guide to compliance with the EU GDPR” and a framework to become step by step GDPR-fit.

 

Digital Transformation: Slow Internet connections as a brake pad

 

Digitization is progressing, but most users still complain about slow Internet connections. Despite the 7th place in the worldwide internet ranking, Belgium is still far behind the world’s fastest internet country. Notwithstanding all the shortcomings of the national IT infrastructure, companies are dealing with the technical and organizational challenges that result from the digital IT transformation.

 

The crazy rise of Bitcoin

 

In the period of a year the value of bitcoin has been multiplied by ten. A bitcoin was worth “only” 1000 dollars on January 1, 2017 … and 8000 dollars ten days ago. In April 2017 Japan officially recognised bitcoin and virtual currencies as legal methods of payment. You should know that Bitcoin represents less than 50% of the money supply of all cryptocurrencies in circulation. this is partly explained by the network situation and the rise of the Ethereum currency. Even if bitcoin is a legal in the vast majority of countries around the world, only a few governments have recognized the legal status of bitcoin in a particular regulatory manner.

 

IoT Projects: The 5 Biggest Mistakes and the Five Steps to Success

 

Closely linked to Digital Change is Internet of Things (IoT) and Industry 4.0 projects. Pioneers already pointed out the four biggest mistakes in IoT projects. If a company wants to exploit the potential of the IOT, it means a lot of work and often frustration – the technical, commercial and cultural challenges are manifold. Until an IoT solution is successfully established on the market, many decisions have to be carefully considered.

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But how does an IoT project succeed? Four steps are needed to make an IoT project a success.

 

Blockchain: The new gold chain

The blockchain is a much-debated technology with disruptive potential and three key characteristics: decentralization, immutability, and transparency. It could help to automate business processes, increase the security of transactions and replace intermediaries such as notaries or banks. Blockchain turns out to be the silent revolution that will change our lives. On top of that, it can turn into a gold chain for early adopters.

 

Cloud: Companies use public cloud despite security concerns

For years, companies have avoided the public cloud, as it is difficult to get a grip on in terms of security. However, this year, companies in the EMEA region increased their investment in the public cloud despite ongoing security concerns and lack of understanding of who is responsible for data security. However, caution is still needed to provide attacks such as wannacry.

 

Artificial intelligence

In 2016, Gartner put artificial intelligence and advanced machine learning in first place in its forecast for 2017, stating that this trend was really pronounced during 2017. Briefly 80 % of companies have already invest in Artificial Intelligence (AI). Nevertheless, one out of every 3 deciders believes that their organization needs to spend more on AI technology over the upcoming years if they want to keep pace with their competitors. Artificial intelligence penetrates into all areas of life. But how does it work?

One example is the automated and personalized customer approach to AI. With personalized campaigns and individual customer approach, the marketing of the future wants to win the battle for the buyer. As a rule, the necessary data are already available in companies, but the resources and software tools for their profitable use are not.
In 2018 Businesses will have an availability of AI-supported applications and should therefore focus on the commercial results achieved through these applications that exploit narrow AI technologies and leave the AI in the general sense to researchers and writers of science fiction;

 

The future of the human worker

AI systems can be used without a doubt. The world is becoming increasingly complex, which requires a thoughtful and wise use of our human resources. This can support high-quality computer systems. This also applies to applications that require intelligence. The flip side of AI is that many people are scared about the possibility of smart machines, arguing that intelligence is something unique, which is what characterizes Homo Sapiens. Not only that but many people still think that Artificial intelligence is the new threat to employment. It will replace the man and steal all the jobs. And they thinks that the future is dark.

Yet technological progress has never caused unemployment. On the contrary, since the industrial revolution, employment has multiplied. But, always, with each progress, fears resurge. Today, it is artificial intelligence that scares, or is used to scare. Economic history, and economic science therefore invites us to remain calm in the face of technological progress in general, and artificial intelligence in particular. By allowing the invention of new things to be exchanged, by stimulating entrepreneurship, it is not a danger but only an opportunity.

 

DATA based business models

Data Driven Business Model puts data at the center of value creation. This central place of data in the Business Model can be translated in different ways: analysis, observation of customer behaviour, understanding of customer experience, improvement of existing products and services, strategic decision-making, and marketing of data.

These data can be gathered from different sources, generated directly by the company, processed and enriched by various analyses and highlighted by data access and visualization platforms. Once data is collected, It’s essential to manage the multiple sources of data and identify which areas will bring the most benefit. Tracking the right data points within an organization can be profitable during the decision-making process. This allows an organization’s management to make data-driven decisions while amplifying synergy within the day-to-day operations.
As for revenue models, these can be based on a direct sale of data, a license, a lease, a subscription or a free provision financed by advertising.

 

#Healthcare Sector – Center of #Cyberattack

HEALTHCARE CYBERATTACK

Nearly 90% of healthcare organizations have been hacked in the last two years. In addition, almost half of them have been exposed to cybercrime more than five times. In 2016, there was not a single week without data piracy or a cyber-attack targeting a health organization somewhere in the world. To be more precious, only during the first three months of 2016, several hospitals were attacked by ransomwares, mostly via blocked access to essential systems for weeks damaging more than 50000 patients records. In 2017, 150 countries were affected by ransom attacks. These number shows that healthcare sector is technically unprepared to combat cybercriminals’ tactics techniques and intrusion procedures.

 

Multiple Vulnerabilities:

Indeed, healthcare organizations are very attractive targets for cybercriminals because they collect, share and store large amounts of highly sensitive personal data, such as medical or banking information, data on insurance and many other details. They also use many connected devices, including highly specialized medical equipment, as well as computers for staff and a growing number of mobile devices. And that’s not to mention the vulnerabilities of medical devices, such as pacemakers or insulin pumps.

 

Intelligent reflections on high technology are currently under way. The problem lies in the fact that most people working in the health field focus primarily on the patient, which is totally normal as far they aren’t cybersecurity specialists. Moreover, like most end users, they are vulnerable to the same types of attacks by cybercriminals to steal information and cause operational damage in other sectors of the industry. However, it would seem, that the main difference is weakness of each sector. According to the findings of the Healthcare Information and Management Systems Society (HIMSS), too many organizations specialized in the field of health do not deploy even the most basic security solutions, such as malware protection tools, firewalls or very simple cryptographic solutions, which is the main cause of this problem.

 

In the other hand, many health organizations do not have to worry about the gaps, concerning cybersecurity, in their systems:

 

  • 86% installed tools against malware
  • 81% use firewalls
  • 64% encrypt the data being transferred and 59% encrypt the stored data
  • 57% deal with patch and vulnerability management
  • 52% installed a mobile device management tool
  • 41% use a Web security gateway and 37% use a security gateway for their email

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Everyone is suffering, and you?

 

No one is better informed about vulnerabilities in the IT systems of the Healthcare sector than cyber criminals themselves. In a black market filled with credit card information and stolen login credentials, medical records, which usually offer the almost complete profile of the individual to whom they belong, are a highly coveted source of enrichment. Even if the data were to lose market value, cybercriminals will continue to design ransomwares and malicious programs to encrypt important data and “hold them hostage” until the organization pays a ransom; no buyer is more willing to pay than the organization that owns this data and absolutely needs it.

 

Cybercriminals are not the only ones to be on the lookout; Wherever they are, health organizations are subject to data protection regulations. The objectives of the European Union’s General Data Protection Regulation (RGPD) to the Health Insurance Portability and Accountability Act (HIPAA) are virtually identical: to ensure the protection of sensitive credentials of all individuals.

 

Medical records are lucrative for a good reason: they usually contain data that remains valid for many years. Whether it is the date of birth, social security number, insurance information or banking data, medical records include all the elements criminals need to launch personalized phishing attacks, commit fraud and Identity theft, or simply monetize information. To obtain this data, they use malicious programs, phishing techniques, as well as malicious web sites, and exploit the vulnerabilities of hard disks and programs of health organizations.

 

Moreover, impaired data involve risks that go beyond financial fraud: they pose a real threat to the safety of the patient. Who are you dealing with? Is this the right medicine and the right dose? Who owns this MRI that I am reading? Is this patient on a diabetic diet? Is the data sharing of this patient secure? Who has access to this data, who can copy them on an external storage device, take them home on his laptop? Is the person I prescribe this prescription really the one she claims to be? Is this person truly a qualified physician or has he / she stolen the identifiers of another?

 

In this environment, protecting the authenticity of data, transactions, access and presence on all systems (and the devices connected to them) isn’t an easy task. As these threats continue to evolve, Healthcare organizations must take an equally agile approach to cybersecurity. A solution based on access to the latest information on threats and available in the Cloud can help them keep abreast of developments in cybercrime techniques. Automatic learning combined with optimal human expertise can certainly help healthcare organizations to anticipate, prevent, detect and respond quickly and appropriately to threats.

 

Piracy, Malicious Attacks and Phishing attacks

 

Criminal attacks are the main cause of data piracy in the health sector and account for 50% of cases. In the course of 2016, a significant number of unwanted e-mails with attachments and malicious links were recorded. Spam and phishing are particularly noteworthy because they are one of the most common and simple ways cybercriminals use to launch attacks and access systems, steal information, or run ransomwares.

 

Healthcare organizations must protect sensitive patient data and business applications from the threats they face. It is preferable for healthcare organizations to adopt an agile approach to cybersecurity that allows them to use the most up-to-date information on threats rather than relying on the widely used traditional techniques for which cybercriminals have developed solutions.

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