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Artificial Intelligence (AI) in Security Market Size to Grow USD 13450 Million by 2029 at a CAGR of 18.1% | Valuates Reports

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BANGALORE, India, Aug. 2, 2024 /PRNewswire/ — Artificial Intelligence in the Security Market is Segmented by Type (Endpoint Security, Network Security, Application Security, Cloud Security), by Application (Government & Defense, Enterprise, BFSI, Retail, Healthcare, Manufacturing, Automotive & Transportation, Infrastructure).

The Global Artificial Intelligence in Security Market is projected to grow from USD 4966.7 Million in 2023 to USD 13450 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 18.1% during the forecast period.

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Major Factors Driving the Growth of AI in Security Market:

The market for artificial intelligence (AI) in security is growing quickly as businesses use cutting-edge technology to improve their security protocols and defend against increasingly complex cyberattacks. The efficiency and efficacy of security operations are greatly increased by AI-driven security systems, which include features like automated responses, predictive analytics, and real-time threat identification. By identifying and thwarting possible attacks more quickly than with conventional techniques, AI integration in security systems lowers the likelihood of data breaches and other cyber catastrophes. The use of AI in security is driven by the need for proactive security tactics and the increasing complexity of cyberattacks. These industries include government, banking, healthcare, and retail.

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TRENDS INFLUENCING THE GROWTH OF THE AI IN SECURITY MARKET:

The market for artificial intelligence (AI) in security is growing quickly as businesses use cutting-edge technology to improve their security protocols and defend against increasingly complex cyberattacks. The efficiency and efficacy of security operations are greatly increased by AI-driven security systems, which include features like automated responses, predictive analytics, and real-time threat identification. By identifying and thwarting possible attacks more quickly than with conventional techniques, AI integration in security systems lowers the likelihood of data breaches and other cyber catastrophes. The use of AI in security is driven by the need for proactive security tactics and the increasing complexity of cyberattacks. These industries include government, banking, healthcare, and retail.

Because endpoints like laptops, cellphones, and IoT devices are frequently used as entry points for assaults, endpoint security is a major driver of AI in the security industry. AI improves endpoint security by offering more sophisticated threat detection and reaction tools. Real-time endpoint activity monitoring and analysis by AI-powered systems can spot irregularities and possible threats that conventional security technologies would overlook. Secure sensitive data and organizational network integrity depend on the capacity to identify zero-day attacks, ransomware, and other advanced threats at the endpoint level. The market is expanding as a result of the rising need for reliable AI-driven endpoint security solutions brought on by the growing number of connected devices.

Because of its extreme vulnerability to financial fraud and data breaches, the BFSI (Banking, Financial Services, and Insurance) industry is one of the main drivers of AI in the security market. Artificial intelligence (AI) technology provides sophisticated capabilities to identify and stop fraudulent activity, secure transactions, and safeguard client data. AI is used by financial institutions for real-time monitoring, risk assessment, and anomaly detection—tasks that are essential for upholding client confidence and adhering to strict regulatory standards. Artificial intelligence (AI) is a vital tool for the financial services industry because of its capacity to analyze vast amounts of financial data and swiftly and correctly spot questionable trends. The increasing sophistication of cyber threats directed at financial institutions is propelling the financial sector’s use of artificial intelligence (AI) in security, hence driving market expansion.

One of the main drivers of the security industry’s development is proactive threat detection. AI technologies offer proactive threat detection by continually monitoring and analyzing data to discover possible dangers before they can cause harm, in contrast to traditional security methods that respond to attacks after they happen. Security systems can anticipate and avert intrusions thanks to machine learning algorithms’ ability to learn from past data and identify anomalies. By taking a proactive stance, security breaches are less damaging and incident response takes less time and money. The capacity of AI to reduce risks and issue early warnings is attracting more and more organizations, which is fueling the growth of the AI security industry.

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AI IN SECURITY MARKET SHARE

The market for AI in security is expanding quickly in the Asia-Pacific area as a result of growing cyberthreats, a rise in the use of AI technology, and large expenditures in digital infrastructure. China, Japan, and India are leading the way in this expansion due to their developing IT sectors and government programs to strengthen cybersecurity.

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Key Companies:

NVidiaIntelXilinxSamsung ElectronicsMicronIBMCylanceThreatmetrixSecuronixAmazonSift ScienceAcalvioSkycureDarktraceSparkCognitionAntivirus Companies

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Technology

Sparrow BioAcoustics closes 13 million in seed financing

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11 mins ago

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September 20, 2024

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The 13-million-dollar financing was led by Killick Capital, Klister Credit and Pelorus Ventures. Closing of the round represents a huge step forward for the small Canadian medical AI startup, and a big vote of confidence for their rapid progress.

ST. JOHN’S, NL , Sept. 20, 2024 /PRNewswire-PRWeb/ — Sparrow BioAcoustics [Sparrow], a pioneer in the field of bioacoustic AI technology, announces the that it has closed its seed financing round. The 13-million-dollar financing was led by Killick Capital, Klister Credit and Pelorus Ventures. Closing of the round represents a huge step forward for the small Canadian medical AI startup, and a big vote of confidence for their rapid progress.

“There is a future where people can screen for cardiac and pulmonary problems anywhere any time, and that future is really close now” – Dr. Yaroslav Shpak, Chief Medical Officer Sparrow BioAcoustics.

“The team at Sparrow pushed past numerous scientific, regulatory and business obstacles to get this stage. They have accomplished things that will lead to helping millions of people in a whole new way” says Killick President Mark Dobbin.

Sparrow is an SaMD (Software as a Medical Device), and the first medically cleared product that uses people’s smartphones to capture and decipher cardiac sounds. “In the last 100 days, normal everyday people successfully made 30,000 medical grade heart recordings” says Chief Product Officer Nadia Ivanova. “People use the system with a 96% success rate on their first try.”

Sparrow has been in the news recently for several breakthroughs in detection of cardiac anomalies, as well as several medical authority clearances including FDA. “There is a future where people can screen for cardiac and pulmonary problems anywhere any time, and that future is really close now” says Dr. Yaroslav Shpak, Chief Medical Officer.

The team at Sparrow is expected to follow up with further announcements in the coming weeks “We have some big things on the horizon, and we are heads-down getting ready” says CEO Mark Attila Opauszky.

To learn more about Stethophone and Sparrow BioAcoustics, please visit https://stethophone.com/.

About Sparrow BioAcoustics

Sparrow BioAcoustics, with offices in Newfoundland and Nova Scotia, is leading the Software as a Medical Device industry in new directions for cardiac and pulmonary disease detection. Our team of physicians, engineers and data scientists are working to unlock the richest source of diagnostic information about cardiac and pulmonary conditions. Our mission is to help the millions of people at-risk and suffering from cardiac and respiratory disease to live longer, healthier lives enabled by earlier detection and quicker treatment.

Media Contact

Mark Opauszky, Sparrow BioAcoustics, 1 416 268 8966, mark@sparrowacoustics.com, https://stethophone.com/.

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Huawei Cloud: One Step to Intelligence, One Leap to Excellence

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September 20, 2024

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SHANGHAI, Sept. 20, 2024 /PRNewswire/ — During HUAWEI CONNECT 2024, Huawei Cloud hosted a Summit themed “One Step to Intelligence, One Leap to Excellence”, gathering global industry leaders to explore the intelligent transformation trend, share pioneering cases, and assist customers in their journey to cloud-based operational excellence. At the summit, Huawei Cloud and global customers, unveiled the Data Center-to-Cloud solution and the PRIME Framework white paper.

Jacqueline Shi, President of Huawei Cloud Global Marketing and Sales Service, said: “Customers’ support enables us to innovate with finance, retail, autonomous driving, the Internet and many other sectors. By combining cutting-edge technologies with industry know-how, Huawei Cloud paves your way to digital and intelligence.”

Kevin Gao, President of Huawei Cloud Public Cloud Business, presented a keynote speech “One Step to Intelligence, One Leap to Excellence”. He outlined three critical factors for accelerating cloud migration and AI use: global infrastructure, continuous technological innovation, and lean operations.

In terms of global infrastructure, Huawei Cloud’s global infrastructure, KooVerse, offers extensive coverage, exceptional experience, and excellent quality. With 33 Regions and 93 Availability Zones (AZs) worldwide, Huawei Cloud supports over 10,000 customers in achieving business globalization. Huawei Cloud has interconnected with over 2,400 peers of global carriers, ensuring one hop to cloud and global business deployment for customers. Huawei Cloud data centers achieve Tier IV reliability.

Technological innovation is at the heart of Huawei Cloud’s mission to accelerate enterprise transformation. At this summit, three key areas were highlighted: compute upgrade, data-AI convergence, and application innovation.

The Data Center-to-Cloud solution released by Gao offers data center facilities, intelligent O&M, and DCN as a service, allowing customers to easily relocate and run dedicated compute resources on Huawei Cloud.

Huawei Cloud’s Ascend AI Cloud Service enables training jobs to run non-stop up to 40 days, shortens the fault recovery time to 10 minutes, and increases the linear scalability to 90% (the industry average are 2.8 days, 60 minutes, and 80%, respectively).

Huawei Cloud’s deterministic operations system has been adopted by over 300 global customers, maintaining a strong security record with zero intrusions and zero data breaches. 

DeFacto from Türkiye leverages Huawei Cloud’s cloud native solution with Cloud Container Engine (CCE) and streamlines their services.

Huawei Cloud helps Chery to deploy, use, and manage the cloud. Currently, Huawei Cloud nodes in more than 10 countries and regions are providing services for Chery.

NavInfo has adopted Huawei Cloud’s R&D expertise and CodeArts software development pipeline to establish efficient development management standards and efficiency measurement systems.

Kingsoft and Huawei Cloud have collaboratively developed an excellence framework to optimize cost management.

Tencent Music’s Tianqin Lab has developed the MUSELight AI model acceleration framework, utilizing Huawei Cloud’s Ascend AI Cloud Service.

At the end of the summit, Huawei Cloud and global customers jointly released the Enterprise Excellence PRIME Model White Paper. This white paper offers a reference framework for enterprises to leap to excellence with digital and intelligent technologies.

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Spatial Labs Unveils Fashion Collection: Core Powered by Circle: A New Way to Connect

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September 20, 2024

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LOS ANGELES, Sept. 20, 2024 /PRNewswire/ — Today, Spatial Labs, a cutting-edge technology and design company, introduces their first fashion collection – Core Powered by Circle—a revolutionary step forward in fashion and how we connect with each other.

The Core collection is the first to leverage the new innovative platform Circle, which transforms the way we engage, share, and build relationships. Core marks the beginning of a new era in personal expression and connection – setting a new standard for fashion and for global brands.

The Core collection embodies Spatial Labs’ commitment to innovation, self-expression, and cultural impact. Each piece offers a new way to interact, making fashion a living reflection of personal identity.

The debut Core collection features essential pieces including Core Tee $120, Core Crewneck $220, Core pants $250 and Core Hoodie $320. The collection comes in five colorways including: Arctic, Titanium, Carbon, Rust, and Moss. The Core collection is made in Los Angeles and debuts online and at the flagship store in Culver City at The Platform, where customers can explore the future of fashion and experience the technology firsthand.

“Our vision with Circle is to build a platform that allows people to interact with the world around them in ways never before possible,” said Iddris Sandu, Founder & CEO of Spatial Labs.

“In a world where our connections have become fragmented and often impersonal, Circle is reimagining how we share and preserve moments. It’s not just about social networks; it’s about building a new interaction layer where everyday objects and experiences tell our stories in real-time.”

Sandu continued: “With Core and Circle, we’re pioneering a future where the objects we own,wear and touch are gateways to personal memories and shared experiences. This is not some far-off vision—it’s here, today, and it’s creating opportunities for everyone to showcase their lives in ways that feel more intimate, more authentic, and ultimately more human.”

Each item in the Core collection is embedded with smart chip technology linked to Circle which allows users to personalize their clothing. Circle users can post to their feed using “Tiles” to share photos, videos, links, playlists, and more moments from their daily life, creating deeper connections and fostering a sense of community. And it all comes to life when users tap the Tag on each other’s clothing.

Circle offers an alternative space for individuals to express themselves, allowing users to share their lives more authentically and intimately. Unlike traditional social media sharing tools that often feel impersonal, overly curated, and limiting, Circle keeps you and your close circle of friends connected, enabling a depth of presence to share your stories in real time without any expectations of maintaining a perfect image.

To learn more about Spatial Labs and to purchase the Core collection please visit www.spatial-labs.com or explore at the flagship store located at Spatial Labs Store – #104, 8840 Washington Blvd, Suite 104, Culver City, CA 90232, and engage with the future of interactivity.

About Spatial Labs

Founded in 2019, Spatial Labs exists to simplify and enhance people’s lives by bringing the digital and physical worlds together. Through innovative products and services, we help people create and enjoy experiences that inspire joy. Our mission is to make technology a natural part of the human experience and empower people to shape the world they want to see.

Founder and CEO, Iddris Sandu is a visionary technologist and designer who has been at the intersection of technology and fashion for many years. He has collaborated with leading tech companies like Google, Meta, and Twitter, and at only 19, Iddris became the CTO for Nipsey Hussle – creating The Marathon Store which was the world’s first Smart Store powered by augmented reality and geofencing technology.

His unique blend of technology and culture led him to create Spatial Labs in 2019, backed by Blockchain Capital and JAY-Z’s Marcy Venture Partners. In 2019, he founded Spatial Labs where he has collaborated with brands like Rihanna’s Fenty, Beyoncé’s IVY PARK, Travis Scott’s Cactus Jack, Vogue, Prada, and Adidas. At only 27 years old, Sandu is one of the youngest founders ever to raise an eight figure seed round for his technology company, Spatial Labs. 

Technologies developed at Spatial Labs helps people, brands, and communities tell richer, more meaningful stories.

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