Technology

Ransomware Costs Surge as Quantum Computing Risks Loom: How Data Security Stocks Are Responding

Published

3 months ago

October 2, 2024

USA News Group News Commentary

Issued on behalf of Scope Technologies Corp.

VANCOUVER, BC, Oct. 2, 2024 /CNW/ — USA News Group News Commentary – Ransomware is on the rise, according to the IBM Cost of a Data Breach Report 2024, with the global average cost of a data breach reaching $4.88 million this year, for a 10% increase over 2023. As computing power and technology advances, so too does the ability of cybercriminals to penetrate vulnerabilities, with 55% of companies reporting modern cybercriminals are now more advanced than their internal teams. With the rise of quantum computing the G7 Cyber Expert Group (CEG) recently advised the G7 Finance Ministers and Central Bank Governors encouraging jurisdictions to monitor quantum computing development, and begin planning for the potential risks quantum computing poses on some current encryption methods. Several tech developers are currently working on AI-powered, and future-proof quantum computing security to protect data today and tomorrow, with recent developments coming from, including: Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), Gen™ (NASDAQ: GEN), Palantir Technologies Inc. (NYSE: PLTR), Veritone, Inc. (NASDAQ: VERI), and SentinelOne, Inc. (NYSE: S).

The article continued: Swedish multinational telecom Telia has warned that the rise of AI technology has increased the risk of cyber-attacks targeting businesses. The Federal Communications Commission addressed the need for better telecom security, forcing T-Mobile to pay $31.5 million in data protection and cybersecurity settlements after investigations into data breaches that impacted millions of US consumers.

Scope Technologies completes updates for Retail User Subscription Model for Fully Encrypted, Quantum-Resilient, and Decentralized Cloud Storage

Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), a pioneering technology company specializing in quantum security and machine learning, today announced the successful completion of updates for its new retail subscription model, offering full access to its industry-leading encrypted, quantum-resilient, and decentralized cloud storage solutions. Having reached this key milestone, Scope Technologies is now in closed user group testing gearing up for the official launch, which will deliver top-tier data protection solutions to individual users and small to medium-sized businesses (SMBs).

As the global demand for secure, immutable data storage continues to rise, Scope Technologies’ QSE (Quantum Security & Entropy) platform delivers enhanced protection through a combination of post-quantum encryption and decentralized storage, ensuring data is safeguarded against both current and future cyber threats. Unlike standard cloud backups, QSE’s decentralized approach ensures that data remains immutable and resistant to ransomware and denial of service attacks, among many others.

“Data protection should not be a luxury,” said Sean Prescott, Founder and CTO of Scope Technologies. “Having completed the updates to our decentralized storage network, we are excited to bring the power of quantum encryption and decentralized storage to a wider audience. This solution ensures that individuals and businesses can protect their data not only from current threats but also from the unprecedented risks posed by quantum computing and ransomware.”

With updates now complete, Scope Technologies is gearing up to launch its decentralized cloud storage service, QSE, for retail users. This service provides robust data security through quantum-proof encryption, utilizing quantum entropy to create unbreakable encryption keys, even against future quantum computing threats. The decentralized infrastructure ensures that data is immune to tampering, over-encryption, or corruption, offering far superior protection compared to traditional cloud backups. Additionally, the service is designed for seamless integration with existing systems, allowing for easy setup and scalability via simple APIs. Scope’s affordable subscription plans make enterprise-level security accessible to individuals and small to medium-sized businesses, ensuring comprehensive data protection at competitive rates.

The upcoming retail subscription model will offer tiered pricing plans based on storage needs, with access to additional services such as increased entropy calls for enhanced encryption. This flexible pricing structure allows users to scale as their storage demands grow, all while maintaining the highest level of data security available today. Unlike traditional storage services, QSE’s decentralized, immutable infrastructure ensures that data remains secure and untouchable by attackers, offering a significant improvement over centralized cloud backups.

CONTINUED… Read this and more news for Scope AI at: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/

In other industry developments and happenings in the market this week include:

Gen™ (NASDAQ: GEN), a global company dedicated to powering Digital Freedom through its trusted Cyber Safety brands, recently announced that its employee benefits division Norton Benefit Solutions has expanded its offerings to help employers in the US, EMEA, LatAM and Asia protect their employees’ digital lives with all-in-one Cyber Safety solutions available through their benefits programs.

“Over the past 16 years, our team has offered Norton and LifeLock products to employers and has become a leading employee benefit provider in the United States and Canada, helping more than 10,000 companies protect their employees with a 99.8% retention rate,” said Casey Cullinan, Head of Norton Benefit Solutions. “As a global leader in Cyber Safety, we are passionate about making online privacy and protection accessible for people around the world.”

Palantir Technologies Inc. (NYSE: PLTR), a leading provider of AI systems, was recently recognized as a top performer by Dresner Advisory Services in the 2024 AI, Data Science, and Machine Learning Wisdom of Crowds® Market Study, for a second year in a row. The recognition came just days after Palantir announced a contract awarded by the DEVCOM Army Research Laboratory (ARL) expanding Maven Smart System access across the military services to include the Army, Air Force, Space Force, Navy, and US Marine Corps, worth up to $99.8 million over five years. The Maven Smart System is part of the National Geospatial-Intelligence Agency’s Maven AI infrastructure.

“To stay ahead of our adversaries, we must deliver software advantage at speed and at every level of the Department of Defense,” said Shannon Clark, Head of Defense Growth, Palantir. “NGA has been a leader in rapidly adopting the strongest AI capabilities to enable warfighters around the globe, and we are excited to support the program as it scales to meet critical infrastructure requirements across all of the services.”

Veritone, Inc. (NASDAQ: VERI), a leader in building human-centered enterprise AI solutions, recently announced a partnership with Midwest Public Safety, a premier provider of public safety technology solutions. As per the collaboration, Midwest Public Safety will offer its prospective and current customers across the Midwest Veritone Public Sector’s complete line of AI-powered applications for law enforcement and judicial agencies will help agencies streamline and automate manual workflows, accelerate investigations and improve public safety while providing greater transparency.

“We are excited to partner with Midwest Public Safety to expand the reach of our industry-leading technology across the Midwest,” said Jon Gacek, general manager, Public Sector, Veritone. “This collaboration underscores our commitment to providing law enforcement agencies with innovative AI-driven tools that streamline digital evidence management and protect privacy. By working with Midwest Public Safety, we are able to support agencies in their mission to serve and protect their communities more effectively and efficiently.”

SentinelOne, Inc. (NYSE: S), a global leader in AI-powered security, was recently named a Leader in the 2024 Gartner® Magic Quadrant™ for Endpoint Protection Platforms (EPP) for the fourth consecutive year, and also took top honors winning both the Best Enterprise Security Solution and the Best Endpoint Security Solution at the 2024 SC Media Awards.

The accolades came just weeks after SentinelOne announced a collaboration with Lenovo to protect Lenovo PCs with SentinelOne’s industry-leading Singularity™ Platform and generative AI capabilities (Purple AI) in new PC shipments, as well as offer upgrades to existing customers to expand its ThinkShield security portfolio and autonomously protect devices from modern attacks.

“The endpoint remains a primary vector of cyberattacks and the most critical part of a business’ ongoing operations,” said Akhil Kapoor, Vice President Embedded Business, SentinelOne. “By working with market leaders like Lenovo, we can rapidly scale AI-powered security to millions of PCs and servers across the globe.”

Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/

CONTACT:

USA NEWS GROUP
info@usanewsgroup.com
(604) 265-2873

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Scope Technologies Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope Technologies Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope Technologies Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope Technologies Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

View original content:https://www.prnewswire.com/news-releases/ransomware-costs-surge-as-quantum-computing-risks-loom-how-data-security-stocks-are-responding-302266057.html

SOURCE USA News Group

Technology

2025 Chinese economy: robust capacity in coping with pressure and risks

Published

58 minutes ago

December 23, 2024

BEIJING, Dec. 22, 2024 /PRNewswire/ — A news report from China.org.cn on China’s annual Central Economic Work Conference:

From China’s annual Central Economic Work Conference held last week, one can see clear targets and detect the continuity in the rationale behind the country’s economic roadmap for 2025. The tasks listed at the conference are in line with China’s development needs in the current phase, and can to a degree respond to the external risks.

Firstly, the meeting urged efforts to vigorously boost consumption, a top-of-agenda task. Expanding domestic demand is not only a long-term priority for China, but also a coping strategy for the tougher challenges faced in exports. China’s efforts to stimulate consumption mainly fall into two categories. For one, enabling its citizens to have more to spend, by means of increasing income and alleviating burdens of low- and middle-income groups, and enabling more to enter the middle-income bracket; meanwhile, China will continue to diversify consumption scenarios, such as the debut economy, ice and snow economy and silver economy, for consumers to spend their disposable income.

Secondly, China is determined to let scientific and technological innovation drive the building of a modern industrial system, serving as a compass for China’s industrial economy development. In 2025, China is going to invest more in technological innovation, and strengthen studies in basic sciences and key core technologies, to drive industrial innovation, and furthermore achieve high standards in sci-tech self-reliance and strength.

Thirdly, China will maintain its high-level opening-up, and keep foreign trade and foreign investment stable. The size, quality and good reputation of China’s business with the world have been ever-growing, and that’s because the goal of China is to “make the cake bigger,” not “steal others’ shares of cake,” let alone “seize the whole cake.” To that end, China has improved the quality of its exports, explored new investment models, and made more countries stakeholders along the global value chain; meanwhile, it has also been ameliorating its market-access policies, and bettering the treatment of foreign-invested companies, so that more countries can benefit from the Chinese market. By November, China has removed all market access restrictions for foreign investors in the manufacturing sector, and service sectors including telecommunication and medical care are also opening their doors wider at a stable pace.

China shows great willingness to open up to the world, and boasts a good many partners; at the same time, the country’s economy has a solid foundation with many advantages, strong resilience and great potential, which means it possesses robust capacity in coping with pressure and risks.

View original content to download multimedia:https://www.prnewswire.com/news-releases/2025-chinese-economy-robust-capacity-in-coping-with-pressure-and-risks-302338092.html

SOURCE China.org.cn

Technology

India-born Avaada Group Commits $12bn to Transform Rajasthan into a Global Renewable Energy Hub

Published

58 minutes ago

December 23, 2024

MUMBAI, India, Dec. 23, 2024 /PRNewswire/ — Avaada Group, a leading name in the renewable energy sector, has announced an unprecedented investment of $12bn in Rajasthan, India, for accelerating green energy transition, thereby establishing the region as a global renewable energy powerhouse. This landmark announcement was made during the prestigious Rising Rajasthan 2024 Summit, attended by India’s Hon’ble Prime Minister Narendra Modi and Rajasthan’s Hon’ble Chief Minister Bhajanlal Sharma.

Highlighting Rajasthan’s strategic importance, Avaada Group’s Chairman Vineet Mittal, Guest of Honour at the event, stated, “Rajasthan’s vast solar and wind resources, coupled with the visionary leadership of the Hon’ble Prime Minister and Chief Minister, present an unparalleled opportunity to redefine the global renewable energy landscape. Avaada’s commitment of $12bn while driving green industrial manufacturing will also create millions of jobs, shaping a sustainable and inclusive future.”

Rajasthan stands out as a global hub for renewable energy, with over 142 GW of unmatched solar potential, supported by 325+ sunny days annually. The state’s pro-business policies, including the Rajasthan Investment Promotion Scheme 2024 and the Integrated Clean Energy Policy 2024, have attracted investments worth $78bn.

Avaada Group’s journey in Rajasthan began with a modest 150 MW solar project and has since evolved into multiple ventures, including one of the world’s largest single location renewable energy projects by an IPP. Key investments announced at the summit include:

1,200 MW Pumped Storage Project (PSP): A $700mn initiative to enhance energy storage and grid stability.Green Hydrogen and Ammonia Projects: Investments aimed at driving global decarbonization goals.Utility-Scale Solar and Wind Projects: Across Jhalawar, Kota, Barmer, and Bikaner, contributing significantly to India’s renewable energy targets.

With its strategic alignment to international sustainability frameworks like the EU’s Carbon Border Adjustment Mechanism (CBAM), Rajasthan offers a unique advantage for zero-carbon manufacturing and green industrial growth, positioning itself as a magnet for industries seeking sustainable operations while creating over 1mn green jobs.

“As a global renewable energy leader, Avaada is proud to participate in Rajasthan’s vision of becoming a green hub of industrial growth,” Mr. Mittal remarked. “Our investments aim to double the region’s economy by 2030, aligned with global efforts to combat climate change.”

With its strategic initiatives, Avaada Group is poised to attract international collaborations, setting a benchmark for renewable energy innovation and sustainable industrial development.

About Avaada Group

Avaada Group is a leader in the global energy transition, specializing in solar module manufacturing, renewable power generation, and the development of green hydrogen, green methanol, green ammonia, and sustainable aviation fuel projects. Under the visionary leadership of Mr. Vineet Mittal, Avaada has become a significant global player in clean energy. Avaada Energy, the group’s renewable power generation arm, aims to achieve a capacity of 11 GWp by 2026. The group’s strong execution capabilities have attracted substantial international investment, including a $1.3bn commitment in early 2023, with $1bn from Brookfield’s Energy Transition Fund and $300mn from GPSC, a subsidiary of Thailand’s PTT Group.

Contact

Kiren Srivastav
kiren.srivastav@avaada.com

Charu Sehgal
charu.sehgal@avaada.com

View original content:https://www.prnewswire.co.uk/news-releases/india-born-avaada-group-commits-12bn-to-transform-rajasthan-into-a-global-renewable-energy-hub-302337340.html

Technology

The Shining Achievements of Busan MICE in 2024

Published

58 minutes ago

December 23, 2024

BUSAN, South Korea, Dec. 23, 2024 /PRNewswire/ — Amid intensifying competition among MICE host cities to attract large events, 2024 saw Busan take bold steps that led to impressive results, proving its potential as a prime MICE destination. The efforts made by Busan in 2024 in attracting major international conferences, promoting ESG management, enhancing networking, and strengthening city identity are outlined below.

International Conferences Held in the Global MICE City of Busan

Busan hosted several significant international conferences in 2024. In July, it welcomed the 45th Scientific Assembly of the Committee on Space Research (COSPAR 2024), drawing around 2,700 space scientists from 60 countries to Korea. This was the first time the event was held in the country. In August, after eight years of preparation, the city hosted the 37th International Geological Congress (IGC 2024), a prestigious event with a 146-year history, at BEXCO. In November, Busan hosted the 5th Session of the UN Intergovernmental Negotiating Committee on Plastic Pollution (INC-5). With participation from 193 institutions and countries, INC-5 was the final dialogue in a series of international discussions on controlling plastic pollution, making it a crucial conference on the future health of Earth’s marine environment and placing Busan at the forefront of global attention.

Wide-ranging ESG Activities for the Sustainability of MICE

Busan’s selection to host INC-5 was made possible by its strong track record of ESG initiatives within the MICE industry. The Busan Tourism Organization (BTO) CVB’s exhibition hall was decorated using recyclable wood, and with the assistance of eco-friendly suppliers, recycling stations were set up to facilitate the collection of waste generated during the event. Aiming for a paperless conference, digital materials and multifunctional electronic platforms were also used. Continuous efforts in various ESG initiatives were made through collaborations with Busan MICE Alliance (BMA) members. Environmental reports were made, containing carbon reduction amounts for all products used at event venues and greenhouse gas reduction indicators for transportation during each event, to create more eco-friendly events.

Improvement of Busan’s MICE Network Through Communication

The Busan MICE Alliance and the Busan MICE industry, in general, grew in solidarity through strong networking this year. The BTO CVB worked to fundamentally enhance Busan’s MICE industry by increasing local demand for MICE events and maintaining an efficient collaboration network. Regular meetings of the BMA focused on the concerns of its members to improve communication. Additionally, Busan MICE Alliance Day was held to strengthen ties among members of Busan’s MICE industry, fostering discussions on industry developments both locally and internationally, and exploring joint marketing opportunities. New members were recruited into the BMA in both the first and second halves of the year, enhancing collaboration between the public and private sectors for the success of Busan’s MICE industry. The Busan MICE Business Innovation Platform, which provides users with access to news and information about Busan’s MICE industry, was launched and well-received.

Unique Venues That Capture Busan’s Local Identity

Participants in MICE events now expect more than just the exchange of knowledge. They seek a special experience, and MICE destinations should leverage their local identity to provide experiences that can only be found in their cities or regions. Recognizing this industry trend, Busan has identified a variety of unique venues that highlight the history, culture, and distinctiveness of the city. Venues such as Domoheon, the former residence of Busan’s mayor; Space OneZ, a renovated old warehouse; and Holi Lounge, offering a surfing workation, exemplify this approach. The MICE events held at these unique venues are also organized in a way that showcases the best of Busan’s local identity.

As another busy year draws to a close, Busan, as a MICE city, is looking forward to making even greater strides next year. The 18th World Congress on Computational Mechanics (WCCM) in 2028, along with many other international MICE events, are set to take place in Busan, and the BTO CVB is actively working toward this goal.

With aspirations of reaching the pinnacle of the MICE industry, Busan will continue its efforts to be a sustainable, cooperative, and unique MICE city that is globally recognized.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/the-shining-achievements-of-busan-mice-in-2024-302338095.html

SOURCE Busan Tourism Organization