German industrial heavyweight and one of the world’s leading automotive and industrial suppliers, has signed a multi-year strategic partnership agreement with IBM to accelerate the digital transformation of its entire operations and customer solutions using Watson’s cognitive intelligence and insight from billions of sensors. Schaeffler’s goal is to be the world’s leading manufacturer of cognitive solutions which keep the world moving. Tapping the connectivity and analytics capabilities of IBM’s cloud technologies and Watson IoT platform, Schaeffler will analyze huge amounts of data from millions of sensors and devices across its operations and provide insight to help it to be more flexible, make faster decisions and optimize the performance of equipment in the field.
“What we cannot do is have a situation in which suddenly, this becomes the wild, wild West, where countries that have significant cybercapacity start engaging in unhealthy competition or conflict through these means,” Obama said. There is no evidence that Obama has taken punitive cyber action in response to several major cyber breaches in the past few years, although by its nature cyber war is often invisible to outsiders. After the government of North Korea hacked Sony’s email servers in 2014, for instance, Obama issued a stern condemnation of North Korea’s actions but took no visible action beyond adding modestly to the long list of sanctions against that rogue state.
Data Science / Data Analytics / Business analytics is all about analyzing the data, which is getting generated through multiple sources. Sources range from traditional databases to satellite signals to sensors in Internet of Things, and the list will go endlessly. Easier asked question is, “Where is data not getting generated?” Also the technological advancements are happening at a pace, which will leave us dumbstruck. With these advancements, comes new data, which gets generated relentlessly, for e.g., wearable devices are tracking your heart rate, sleeping pattern (data being generating even while we sleep!), calories consumed, etc. Analyzing such wide variety of data, which is getting generated at a rapid continuous pace, requires extraordinary reasoning and skills.
Having a digital ID would put the power back in your hands, where it belongs. With a digital ID, you control your own personal information, and you decide who to share it with. You retain control over your identity and your health, financial, demographic and other personal data. All this sounds great — and even better, it’s becoming possible. Earlier this week, I attended the Distributed: Health conference, focusing on blockchain technology’s impact on the health industry. When you create a digital ID with blockchain, you get a private key and a public key that you use to securely exchange money or data. Your digital ID can even indicate that certain information about you can be disclosed if you are incapacitated. Blockchain is really just a sequential, irrefutable ledger of encrypted digital events that is shared between parties.
If your cybersecurity program focuses primarily on keeping intruders out of your networks, that needs to change. The answer isn’t to build higher walls and tighter controls around our information infrastructures. The answer is to have threat deterrence that works even against determined, targeted threats. You have to have visibility into network activities and the ability to rapidly detect and trace attacks. That requires strong data management in cybersecurity. Security teams generally haven’t needed to have a deep data science background, so they tend to underestimate the importance of data management in security analytics. As with any function or application, weak data leads to weak results. In cybersecurity, that means too many false positives for overburdened security analysts, higher risk of successful breaches, and greater losses from each breach.
In the music industry, the blockchain could transform publishing, monetization and the relationship of artists with their communities of fans. First, music can be published on the ledger with a unique ID and time stamp in a way that is effectively unalterable. This can solve the historic problem of digital content being downloaded, copied and modified at the leisure of users. Each record can store metadata containing ownership and rights information in a transparent and immutable way for everyone to see and verify. This will ensure that the correct people will get paid for the use of the content. Blockchain technology can also revolutionize the monetization of music. The infrastructure is based on smart contracts, programs that can be run on the blockchain along with the payment transactions.
There needs to be a mandate coming from the boardroom, where CSOs, CISOs, CIOs and data experts should get a place around the table (and increasingly do get one) and where the money and message needs to come from, to embed security everywhere, steer away from developing new solutions with a mindset of just maximal profit (leaving investments in key security controls out), go for security by design and not just talk the talk but also walk the walk when it boils down to mitigating the risks of that key business asset, called data, which in the end, along with process automation, is what the Internet of Things is all about. This boardroom aspect is also mentioned in another article on The Register, covering an event where the IoT and security/privacy issue was tackled, again with the ‘Krebs case’ in mind.
The interesting question here is: How will our life-world and behavior change when sensors are present everywhere? With the omnipresence of sensors and devices that sense locations and other types of human agency, we find ourselves in an environment that is not only tracked by living beings, but also by highly interconnected technological devices. You could even one day say that walls, streets, or cars have eyes in the most literal sense possible. Sensing is not a concept only about living organisms anymore. Rather, it’s a ubiquitous property of our life-world. This will deeply change how we act and interact with each other – but more important, it will transform how we engage with objects. Our life-world is altered by the Internet of Things as objects sense and communicate among themselves. The impact of this technological development has yet to be estimated and described.
The company in question is Social Finance -- the San Francisco fintech company commonly known as SoFi (I invested in SoFi in December 2014) -- valued at $4 billion in its latest round of fund-raising. SoFi provides student loans, mortgages, and other services to Millennials whom it believes have the brains and discipline to use those services to achieve financial success. SoFi generates fees from selling bundles of loans. More specifically, it sells loans to third-party investors via securitizations or whole loan sales. ... SoFi has expanded considerably along other dimensions as well. It now has over 600 employees with offices in San Francisco, Healdsburg, Calif, Utah, Montana, and New York. And it has made about $12 billion worth of student loans mortgages and others -- serving 175,000 members.
One of the risks for individual and professional investors is that those investment companies that start to build AI into their processes will start to outperform other investors, making those investors increasingly reluctant to trade. "Disruption is likely to come from an uprising of disenfranchised investors around the world who are losing to technology. As taxi drivers feel disenfranchised by Uber, fund managers and investors will feel disenfranchised by other fund managers who have access to AI," Mr Sicilia said. "They will stop trading. Why play the game when you are always going to lose? This is all uncharted territory," he said. Looking further ahead, markets face even greater disruption as intelligent computers trade against each other and, having studied the same patterns, want to buy and sell the same security at the same time, potentially causing trading to stop altogether.
Qoute for the day:
"Your success will be the degree to which you build up others who work with you. While building up others, you build up yourself." -- James Casey