Technology practitioners, business leaders and industry experts gathered for the inaugural CIO Business Transformation Awards and Summit this month in New Delhi, India. The ISMG event, hosted by CIO.inc, recognized the remarkable strides CIOs have made in business transformation.
The South Korean government is investing $585 million in domestic AI research and development in 2024, but spending cuts, a shrinking technology workforce and growing competition with other APAC countries pose challenges to the government's goal of "global technology domination."
Only about one-quarter of the top companies in Asia plan to integrate generative AI into their security operations centers, according to a recent IDC report. Organizations are looking for a clear return on investment and tangible cyber risk management benefit before investing in AI.
Cyberattacks hit multiple parts of the business - not just IT. For example, a spam attack on a Singapore bank affected both IT infrastructure and overall business operations, said Chee Lung Yuen, CISO at AIA Malaysia. That's why CISOs need to consider all potential risks, he said.
Singapore has urged banks to be cautious when using artificial intelligence tools to forecast inflation and to stick to time-tested structural models. The Monetary Authority said banks must learn from the post-pandemic inflation surge, which everyone failed to predict.
South Korean intelligence service officials have blamed North Korean hackers for targeting the country's semiconductor manufacturing companies. Hackers who gain access to chip-making technology and product designs could hurt South Korea’s leadership in the semiconductor industry.
An Indian government advisory that requires tech companies to obtain government approval to deploy AI platforms has raised fears that too much regulation could stifle AI development in the country. Union Minister Chandrasekhar clarified that the requirement does not apply to startup companies.
The surge in authorized push payment fraud in APAC underscores the urgent need for enhanced cooperation between banks and telecommunications companies. Both players should tap into AI and ML technologies for better fraud detection and real-time authentication, said Mel Migriño of Gogolook.
Security leaders from a wide range of industries explored the latest cybersecurity trends and issues -including Web 4.0, generative AI, automation, data protection and regulatory compliance - at ISMG's DynamicCISO Excellence Awards and Conference 2024 in Mumbai.
Poor credential management practices hit Australian organizations hard in late 2023, accounting for a majority of cyber incidents affecting millions of people, the Australian Information Commissioner said. Compromised or stolen credentials account for 1 in 4 data breaches.
South Korea's election watchdog warned on Monday that the parliamentary elections in April could be marred by artificial intelligence-generated deepfake campaigns aimed at influencing voters. The country's recently amended Elections Act bans the use of deepfakes for election campaigning.
The South Korean President's Office told local media Tuesday that suspected North Korean hackers had targeted the private email account of an official in November ahead of the president's state visits to the U.K. and France. Local reports suggest the hackers accessed the details of scheduled events.
Researchers at South Korean cybersecurity company S2W attributed a new malware campaign that targeted South Korean organizations to North Korean cybercrime group Kimsuky. The hackers disguised their malware installer as a security program installation file to deceive victims and steal their data.
Pro-Israel hacktivist group R00TK1T said it breached Malaysian telecom giant Maxis shortly after it promised to target organizations in Malaysia because of the country's stance on the Middle East conflict. The hackers also breached telecom company Aminia and online learning platform Yoututor.
The Filipino government has accused China-based threat actors of hacking into the websites of a half-dozen government entities and infiltrating government email systems. DICT officials said the hackers used China-based IP addresses and the services of Chinese telecom firm Unicom to mount attacks.
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