ICYMI: A tech trust problem and 91% of firms fear ransomware

Study shows 91% of organisations fear ransomware attacks

Financially-motivated cyber attacks are causing the most concern for IT professionals, with latest figures showing nine out of 10 organisations fear financially-motivated attacks like ransomware. Research by SonicWall, which coincides with Cybersecurity Awareness Month in October, found that 66% of customers are more concerned about cyberattacks in 2022.

Read the full story: https://technologymagazine.com/articles/study-shows-91-of-organisations-fear-ransomware-attacks

Ransomware defence could keep the lights on for millions

Researchers in the United States have developed an algorithm to help power companies prioritise security investments and fend off a ransomware attack that could cause millions to lose electricity. No single company has enough resources to protect the entire US power grid, the research group at Purdue University discovered. However, computer-assisted analysis of the most crucial security gaps would create a map showing where individual companies could work together to focus on security measures.

Read the full story: https://technologymagazine.com/articles/ransomware-defence-could-keep-the-lights-on-for-millions

UK has a technology trust problem among older bank customers

Older consumers in the UK have a trust problem with technology when it comes to banking, and the financial services industry must act to address this problem if they are not to be forced into a “market-driven stalemate”. The trends emerged in research by YouGov and digital fraud prevention services provider Mitek, which found 52 per cent of UK bank customers feel technology like artificial intelligence (AI) and biometrics positively impacts their trust in banks, and only five per cent would prefer to remove all human interaction and rely solely on automated systems. The research also demonstrated that six in 10 customers who use mobile banking apps have not set up face biometrics for additional security.

Read the full story: https://technologymagazine.com/articles/uk-has-a-technology-trust-problem-among-older-bank-customers

Now is the ideal time to drive deep tech disruption

It may still be considered a niche investment for some, but now is the ideal time for organisations to be building a deep tech strategy according to insights published by Boston Consulting Group (BCG). Deep tech, also known as “hard tech,” may suggest technology that’s five or 10 years away from being relevant, but much of this technology can be applied now by tapping a vibrant ecosystem of deep tech ventures.

Read the full story: https://technologymagazine.com/articles/now-is-the-ideal-time-to-drive-deep-tech-disruption

Bitcoin’s climate footprint is a step in the wrong direction

Bitcoin mining using proof-of-work production is unsustainable as it creates climate damage in excess of a coin’s value in too many instances, according to new research, and government regulation may be required to stop this planet-wrecking direction of travel. When climate change impact is factored in, Bitcoin can be more accurately compared to oil as a product, rather than gold, according to a new analysis and a corresponding report written by researchers at The University of New Mexico.

Read the full story: https://technologymagazine.com/articles/bitcoins-climate-footprint-is-a-step-in-the-wrong-direction

Quantum windows mean machines can see millions of colours

Researchers at Boston’s Northeastern University have built a device using new artificial intelligence techniques that can recognise “millions of colours”, opening the door to a new world of industrial machine vision applications. A-Eye is capable of analysing and processing colour far more accurately than existing machines, according to a paper detailing the research published in Materials Today. Researchers say the new device represents “a massive step” in the field of machine vision and has broad applications for a range of technologies.

Read the full story: https://technologymagazine.com/articles/quantum-windows-mean-machines-can-see-millions-of-colours

Top 10 tech startups globally in 2022

The tech startup sector is full of companies capitalising on growing demand for digital tools. According to the latest forecast by Gartner, worldwide IT spending is projected to total US$4.5tn in 2022, an increase of 3% from 2021.  A constantly developing industry, technology startups are keeping up with the changes by bringing new products and services to the market at breakneck speed. Spanning the AI, fintech, cybersecurity industries and more, we take a look at 10 of the top tech startups.

Read the full story: https://technologymagazine.com/articles/top-10-tech-startups