Category «Economy»

Massive IT outage spotlights major vulnerabilities in the global information ecosystem

Professor Richard Forno highlights the fragility of our enterprise IT systems against the backdrop of the global information technology outage on July 19, 2024 that paralyzed organizations ranging from airlines to hospitals and the delivery of uniforms for the Olympic Games, representing a growing concern for cybersecurity professionals, businesses and governments.

Subjects: Cybersecurity, Economy, Financial System, Health, Information Management, Software

AI In Finance and Banking – July 15, 2024

This semi-monthly column by Sabrina I. Pacifici highlights news, government documents, papers by economists, NGO/IGOs, speeches, and industry white papers on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources, and as available, indicate links to alternate free versions. Six highlights from this post: We need bold minds to challenge AI, not lazy prompt writers, bank CIO says; Managing AI in banking: are we ready to cooperate?; The gen AI gender gap; Will User-Contributed AI Training Data Eat Its Own Tail?; Demand for Artificial Intelligence in Settlement Negotiations; and Artificial intelligence – a central bank’s view.

Subjects: AI, AI in Banking and Finance, Big Data, Economy, Financial System, Legal Research

Pete Recommends – Weekly highlights on cyber security issues, July 6, 2024

Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly complex and wide ranging ways technology is used to compromise and diminish our privacy and online security, often without our situational awareness. Eight highlights from this week: US car dealerships are recovering from massive cyberattack: 3 things you should know; Deepfake attacks will cost $40 billion by 2027; FTC – Who’s who in scams: a spring roundup; Cloudflare is taking a stand against AI website scrapers; Microsoft tells more customers their emails have been stolen; Tips to Make Facebook and Instagram Fun Again; and How to Stop ChatGPT Training On Your Data.

Subjects: AI, Communication Skills, Cybersecurity, Economy, Email Security, Financial System, Healthcare, Privacy, Social Media, Travel

AI in Finance and Banking June 30, 2024

This semi-monthly column by Sabrina I. Pacifici highlights news, government documents, NGO/IGO papers, industry white papers, academic papers and speeches on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources, and as available, indicate links to alternate free versions. Six highlights from this post: AI in finance is like ‘moving from typewriters to word processors’; IMF – AI Preparedness Index Dashboard; Broadening the Gains from Generative AI: The Role of Fiscal Policies; Monkeys, Models, And Markets: AI Vs. Behavioral Finance; and Banking on the Future – The Next Era of Fintech.

Subjects: AI in Banking and Finance, Cybersecurity, Economy, Education, Government Resources

Pete Recommends – Weekly highlights on cyber security issues, June 29, 2024

Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly complex and wide ranging ways technology is used to compromise and diminish our privacy and online security, often without our situational awareness. Five highlights from this week: AI Tools Make It Easy to Clone Someone’s Voice Without Consent; Red Tape Is Making Hospital Ransomware Attacks Worse; Interpol Arrests Almost 4,000 People in Crackdown on International Online Scams; Zero-Day Exploits: Definition & How It Works (With Examples); and U.S. Bans Kaspersky – Here Are the Best Antivirus Alternatives.

Subjects: AI, Cybercrime, Cybersecurity, Economy, Financial System, Privacy

Generative AI Resources 2024

Referencing an article in this month’s Georgetown Law Technology Review, “…traditional AI algorithms normally operate by carrying out a specific function or completing a task using a data set that contains information on how that function or task has previously been done In other words, traditional AI is able to follow a set of rules, make predictions, or utilize instructions to complete a task; but it is not creating anything new in doing so. Generative AI (GAI) has the ability to create something new, specifically new content.” Marcus P. Zillman’s new resource guide spans subject matters including law, economics, education, information technology, planning and strategic deployment and use of GAI, as well a best practices and governance.

Subjects: AI, Cybersecurity, Economy, Education, Financial System, Information Management, Internet Trends, KM, Legal Research, Search Engines, Search Strategies, Social Media, Technology Trends

Independent voters are few in number, influential in close elections – and hard for campaigns to reach

As the 2024 campaign cycle unfolds, campaign strategists, pollsters and political scientists have been closely watching independent voters. Professor of Political Science Julio Borquez addresses why it appears that independents are important – including to political science scholars like himself.

Subjects: Communications, Economy, Education, Leadership

AI in Banking and Finance, June 15, 2024

This semi-monthly column by Sabrina I. Pacifici highlights news, government reports, NGO/IGO papers, industry white papers, academic papers and speeches on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links provided are to the primary sources, and as available, indicate links to alternate free versions. Five highlights from this post: Financial regulators have ‘insufficiently’ addressed hedge funds’ use of AI, report says; 2024 Conference on Artificial Intelligence & Financial Stability; Two AI Truths and a Lie; The Simple Macroeconomics of AI; and The rise of AI at JPMorgan Chase.

Subjects: AI in Banking and Finance, Cybercrime, Cybersecurity, Economy, Education

Pete Recommends – Weekly highlights on cyber security issues, June 8, 2024

Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly complex and wide ranging ways technology is used to compromise and diminish our privacy and online security, often without our situational awareness. Four highlights from this week: The Ticketmaster Data Breach May Be Just the Beginning; The Snowflake Attack May Be Turning Into One of the Largest Data Breaches Ever; You Should Browse With Incognito More Often: Here’s Why; and How algorithms, influencers, and users work together to spread misinformation.

Subjects: AI, Cybercrime, Cybersecurity, Economy, Financial System, Legal Research, Privacy, Search Engines

Ransomware in the Digital Age: Multidisciplinary Legal Strategies for Minimizing Cryptocurrency Ransom Payments

The year 2023 witnessed an unprecedented escalation in ransomware attacks, affecting users from homeowners to critical infrastructure like healthcare, education, and government. With over 5,200 reported incidents—a 74% increase from the previous year—ransomware has not only intensified in frequency but also sophistication and financial demands, with total payments exceeding $1 billion. This surge highlights the value of data and the increasing likelihood that victims will pay ransoms, often facilitated by cryptocurrencies like Bitcoin. Cryptocurrencies have played a pervasive role in the rise in ransomware attacks due to their anonymity and ability to facilitate cross-border payments. Jawad Ramal explains how using cryptocurrencies to facilitate ransom payments offers complex challenges due to their high transaction costs and regulatory ambiguities that complicate compliance efforts. The pervasive role of cryptocurrencies in ransomware attacks underscores the necessity for multi-disciplinary legal professions that are capable of utilizing blockchain analytic tools, financial hedging techniques, and general knowledge of the evolving cryptocurrency space. Instituting safe harbor provisions would also ensure that victims do not face the threat of prosecution after making ransom payments.

Subjects: Blockchain, Cryptocurrency, Cybercrime, Cybersecurity, Economy, Education, Legal Research