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DarkTrace use Machine Learning in order to identify suspicious behaviour in business

Date: 04 May 2016

Citywealth

David Prince, head of Cyber at Schillings,says that investing in training employees to be aware of cyber-attacks and how they can best protect themselves is an important tech trend.

Tell us about ransomware.

Ransomware is a type of malware, which means an intruder software enters your computer system, then restricts access to files and demands a ransom to remove the block. This is going to be one of the biggest threats to all sectors and individuals in 2016. It often exploits human weaknesses, for instance, using phishing e-mails, which might ask respondents to open an email that seems to need urgent attention from a CEO. Aside from ransomware, we are witnessing a marked increase in the type of cyber-espionage seen with the Mossak Fonseca incident. Cyber criminals are specifically targeting trade secrets and confidential information on successful individuals to use it to their advantage. A final trend is investing in people by training them to be aware of the types of attacks that are out there, how they are a target and how to protect themselves, and their companies data.

Is ransomware affecting the medical sector?

Ransomware has already targeted eight large medical institutions this year alone. As a result investment is being made to protect medical devices and to ensure medical records are protected. Generally, we are seeing most investment in cyber security and artificial intelligence (AI).

What are the big tech investment projects this year?

Undoubtedly applied AI and Machine Learning (ML) are attracting investors the most. Organisations such as DarkTrace (cybersecurity), RipJar (data analysis), NICE Systems (customer service software), IBM and Intel have invested heavily in the use of AI and ML to underpin their technologies to improve decision-making capabilities. From a cyber security perspective, DarkTrace use ML in order to identify suspicious behaviour within an organisation.The real benefit of this product is that it adapts to business change without requiring new rules to be created that define suspicious behaviour. Instead, the product creates profiles based on user behaviours and can therefore identify unusual activity. RipJar also use AI and ML to add a layer of intelligence to their social media monitoring capability.Traditionally, social media monitoring capabilities are unsophisticated and heavily based on user input and key words.

Can we expect Bitcoin to become a mainstream currency?

Bitcoin has managed to grow despite detractors. Over the last six months we’ve seen the cryptocurrency stabilise in the market. Although currently the currency itself is no longer considered a sound investment, the technology that underpins the currency, blockchain, is. Blockchain has a variety of other uses, ranging from democratic voting, digitisation of contacts and proof of ownership, digital identity and authenticity.

This article was published in Citywealth Weekly, our mid-week roundup of the hottest news and exclusive expert comments.Sign up here to start receiving the Weekly in your inbox.

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