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The next big business challenge: How organizations are preparing to secure AI

  • min read
    • Of all investments today, artificial intelligence (AI) is transforming enterprises, enabling them to provide improved services, automate processes and make better decisions. Business leaders must invest in the right tech at the right time, and have the people and systems in place that can guarantee success. AI will change most industries but also brings new risks and challenges in securing enterprises and safeguarding customers. Kaspersky's new research aims to help businesses stay ahead of the changes AI brings, published in this 2024 report, Connecting the future of business: How leaders should prepare for using and securing AI and interconnected technologies. About the interconnected tech research Kaspersky surveyed 560 IT security leaders in six regions – North America (US,) Latin America (LATAM: Brazil, Chile, Columbia and Mexico,) Europe (Austria, France, Germany and Switzerland,) Middle East and Africa (META: Saudi Arabia, South Africa, Turkey and United Arab Emirates,) Russia and Asia-Pacific (APAC: China, India and Indonesia.) Respondents were either aware of or involved in cybersecurity decisions about interconnected tech such as AI, web 3.0, data spaces, digital twins, augmented reality (AR,) virtual reality (VR,) 6G and internet of things (IoT.) They worked in organizations with at least 1,000 employees across many sectors. Kaspersky asked how they're introducing and securing AI and other interconnected technologies. Here's what the research revealed. AI is organizations' significant focus for the next two years AI is becoming a cornerstone for organizations striving to stay ahead thanks to its ability to foster innovation. In cybersecurity, AI offers predictive analytics and greater adaptability. Goldman Sachs says global investment in AI will reach 200 billion US dollars by 2025. AI is more than a technology. It's a strategy that lets organizations navigate today's complex business environment. AI adoption Nearly all organizations surveyed have already adopted (54 percent) or plan to adopt AI within two years (33 percent.) Respondents see Generative AI (GenAI) as valuable for improving security technologies' performance. Goldman Sachs economists Joseph Briggs and Devesh Kodnani say GenAI could boost global labor productivity by more than one percentage point yearly once its use becomes widespread. IT companies worldwide are upskilling their workforce and undertaking GenAI pilots to avoid falling behind. IT giants Accenture pledged three billion US dollars to data and AI investment, while French tech firm Capgemini is putting two billion Euros towards GenAI over the next three years. Securing AI 49 percent of organizations said they were extremely well, or well prepared, to secure AI. Almost 50 percent think AI is slightly or not at all hard to secure. Compared with securing other interconnected technologies, most organizations felt more prepared to secure AI. In responding to Kaspersky's survey, the head of cybersecurity at a Brazilian bank said, "I mostly don't find security problems with GenAI. We already understand how to run and train it." While many organizations feel confident in their ability to secure AI, a little over half felt less than well-prepared to secure AI. These businesses need to do more to prepare for the inevitable scale-up of AI-based technologies. AI makes digital trust and data compliance indispensable AI introduces new challenges and complexities in protecting sensitive data and maintaining digital trust. Digital trust is an aspect of customer trust. In Kaspersky podcast Insight Story, emerging tech security expert Malek Ben Salem described digital trust as, "Our confidence that our privacy is protected and secured, the reliability of digital transactions and how sure we are of the identities of those we engage with." Tech researchers McKinsey's 2022 Digital Trust report said 70 percent of people trust companies to protect their privacy, but most companies aren't meeting their expectations. Data breaches, unauthorized access and privacy violations can erode digital trust and lead to reputation damage, lost business and regulatory consequences. Building digital trust takes time but is essential to users' confidence in AI. How AI impacts digital trust AI lets organizations collect and store more data about customers, operations and interactions. This wealth of data helps gain insight but also means more risk of breaches. AI facilitates sharing data between devices, networks and organizations. Data sharing aids collaboration, efficiency and innovation but also means more opportunities for unauthorized access. As it is relatively new, organizations may struggle to be clear about their practices and security around AI. Without clear communication, trust may break down. Top ways organizations are improving digital trust and compliance Adopting zero-trust frameworks is organizations' top response to the need to improve digital trust, with 81 percent already using or planning to adopt zero-trust within two years. Other actions include pursuing data privacy and cyber resilience regulations (74 percent) and digital sovereignty initiatives (73 percent.) Kaspersky's research found companies introducing zero-trust frameworks are better prepared to secure AI and other interconnected technologies: 51 percent of zero-trust framework early adopters said they were extremely well-prepared or well-prepared to secure these technologies, compared with just 27 percent of the rest. The zero-trust canvas: Painting the future of cybersecurity The rise of AI is opening the door for organizations to break with all traditions that don't work for today's tech realities. Traditional cybersecurity is vulnerable to insider attack because it relies on trusting those within a network's perimeter while viewing outsiders as suspicious. Enter: Zero-trust frameworks. The head of IT at cloud provider Searce said, "The zero-trust security model is the only framework that works. The traditional security model can't do the job, especially for interconnected technologies." Under zero-trust frameworks, every user and device must undergo continuous multi-factor authentication (MFA) and authorization, regardless of their trust level. Users and devices get the minimum access needed for their tasks, with constant monitoring of user activity, device behavior and network traffic. Regulation and compliance With each territory having different data protection and privacy legislation, global organizations find it hard to achieve consistent standards around AI. 62 percent of leaders find compliance certification hard. They want to see standardized compliance processes across regulations and say online tools and platforms, with clear guidelines, would further simplify certification. Handling growing challenges and preparing to secure AI With the scale of change AI will likely bring, organizations must have a strategy to prepare themselves to adopt and secure it. Kaspersky research uncovered four effective strategies to ensure readiness to secure AI and other interconnected technologies: Adopting security by design principles, training and upskilling your workforce, upgrading your cybersecurity solutions and meeting regulation and standards. The full report, Connecting the future of business, details each strategy. Interconnected technologies like AI bring huge business opportunities but also a new era of vulnerability to serious cyberthreats. With more data collected and transmitted, cybersecurity measures must get stronger. Organizations can use effective strategies to safeguard critical assets and fortify customer trust amid a growing interconnected landscape. Leaders must also resource cybersecurity well enough to enable access to improved cybersecurity solutions that can meet oncoming challenges.
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Four ways to prepare your business to secure AI and interconnected technologies

  • min read
    • Of all business investments today, interconnected technologies – the growing network of devices, systems and applications connected to the internet and to each other – are the most vital and challenging. From artificial intelligence (AI) to data spaces to internet of things (IoT,) interconnected tech is letting enterprises gather more data, automate processes and make better decisions. While this 'Fourth Industrial Revolution' is propelling change in every industry, it also brings new risks and challenges in securing enterprises and safeguarding customers. Kaspersky's new research aims to help businesses stay ahead of the changes interconnected technologies bring, published in this 2024 report, Connecting the future of business: How leaders should prepare for using and securing AI and interconnected technologies. About our interconnected tech research Kaspersky surveyed 560 IT security leaders in six regions – North America (US,) Latin America (LATAM: Brazil, Chile, Columbia and Mexico,) Europe (Austria, France, Germany and Switzerland,) Middle East and Africa (META: Saudi Arabia, South Africa, Turkey and United Arab Emirates,) Russia and Asia-Pacific (APAC: China, India and Indonesia.) Respondents were either aware of or involved in cybersecurity decisions about interconnected technologies. They worked in organizations with at least 1,000 employees across many sectors. We asked how they're introducing and securing AI, web 3.0, data spaces, digital twins, augmented reality (AR,) virtual reality (VR,) 6G and internet of things (IoT.) Four interconnected tech preparation strategies With the scale of change these new technologies will likely bring, organizations must have strategies to prepare to adopt and secure interconnected tech. We found organizations that felt ready to secure interconnected tech tended to adopt four strategies: Embracing security by design principles, training and upskilling their workforce, upgrading their cybersecurity solutions and striving to meet regulation and standards. Here's a little more on each strategy. 1.    Adopting security by design principles Integrating cybersecurity into each stage of the software development lifecycle makes secure-by-design software and hardware more resilient to cyberattacks. Our research found leaders focused on integrating cybersecurity into development processes – dubbed Security by Design Promoters – were also better prepared to secure interconnected technologies. 50 percent of Security by Design Promoters felt prepared to secure interconnected tech, compared with 26 percent of the rest. Leadership teams can start promoting security by design by asking where in their design processes cybersecurity expertise is usually first involved. They may also play a role in ensuring budget for security testing during design. 2.   Training and upskilling your workforce With the right cybersecurity education, staff can be a formidable line of defense against cyberattacks. Building a cyberaware culture requires a strategy that empowers employees to gain knowledge and put it into practice. Our research found Training and Upskilling Promoters – organizations prioritizing training and upskilling their people – were better prepared to secure interconnected tech. 55 percent of Training and Upskilling Promoters felt prepared to secure interconnected tech, compared with 25 percent of the rest. Leaders we surveyed shared cybersecurity education approaches that worked well. They favored regular programs covering topics like cybersecurity policies and common cyberthreats, phishing simulations to identify further training needs and awareness campaigns sharing best practice and real-world cyber incident examples. Leaders also emphasized user-friendly security policies, greater collaboration with the IT and security teams and demonstrating good cybersecurity practice from the top. Leadership teams can support training and upskilling the workforce by asking how often employees receive cybersecurity training and how the organization measures their understanding. 3.   Upgrading cybersecurity solutions More devices connecting to the internet means more ways to attack. As businesses adopt these technologies, they need more advanced cybersecurity solutions, such as those with enhanced access controls, encryption and regulatory compliance. Our research found Advanced Cybersecurity Adopters — organizations focused on upgrading cybersecurity solutions — are better prepared to secure interconnected tech. 55 percent of Advanced Cybersecurity Adopters felt prepared to secure interconnected tech, compared with 22 percent of the rest. Advanced cybersecurity solutions let your business adapt to evolving threats, meet new regulation and protect critical data. The leadership team should ask what the organization knows about threats that suggest upgrading cybersecurity solutions, how to minimize the impact of upgrading solutions on workflows and how to ensure employees can use the upgraded tools effectively. 4.   Meeting regulation and standards To avoid legal problems or reputation damage, your cybersecurity practice must meet changing standards and legal requirements. Our research found organizations prioritizing meeting new regulation and standards — Regulation Promoters — are better prepared to secure interconnected tech. 40 percent of Regulation Promoters felt prepared to secure interconnected tech, compared with 27 percent of the rest. To better meet regulation and standards, leadership teams can ask if the organization already meets all security regulation and standards, and if not, which to prioritize. You might also look at how to use cybersecurity compliance processes to build customer's digital trust. Interconnected technologies bring huge business opportunities but also a new era of vulnerability to serious cyberthreats. With more data collected and transmitted, cybersecurity measures must get stronger. Organizations can use these four strategies to safeguard critical assets and fortify customer trust amid a growing interconnected landscape. Leaders must also resource cybersecurity well enough to enable access to new cybersecurity solutions that can meet interconnected tech's oncoming challenges.
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How to get better returns on business tech investments

  • min read
    • In a tech store, it's tempting to convince yourself you need the latest shiny gadget. That device upgrade will radically improve your productivity. You leave with a bag of stylish little boxes and a dented credit card. Enterprise tech decision-makers also struggle with these magpie-like impulses. Recent research found GE, Ford and other major players poured 1.3 trillion US dollars into digital transformation. 70 percent of it – $900 billion – went into failed programs. That's quite some buyer's remorse. Businesses know they need tech for competitive advantage – but which tech? And when they've got it, how do they use it effectively? In our podcast Insight Story, Olivier Blanchard, Research Director for future analysts The Futurum Group, and Arun Narayanan, Chief Digital Officer at renewable energy service providers RES, share how business leaders can ensure best bang for their new tech buck. Every enterprise is different Olivier says there's no one-size-fits-all approach to getting better tech returns. "A major mistake is picking tools because other companies are using them. A solution might be good for your problem but might not suit your company's technical capabilities and cultural processes." Instead, he suggests figuring out what you need the technology to achieve. "Understand your problems and look for the best solution to help them." Arun, who has overseen digital transformation in several big mining and oil and gas companies, echoes Olivier's belief in starting in the right place. "Don't rush around trying to work out what a technology can do for you. Instead, think about how you want to change your business. Do you want to delight customers in new ways? Make employees safer and more productive? Get better returns for investors? Imagine the business processes, then find the technology to make them work." He gives an example from sectors he's worked in – oil and gas, mining and renewable energy. "What they have in common is the work is in remote places. They now have remote operations centers giving information on screen to those who can do the work but can't spend days to weeks away." But the aim isn't to replace those working on-site. "Successful digital transformation will balance what's operationally correct at a site and what a remote center can know and understand. You can't take all control away from operations, nor can those making minute-to-minute decisions on site examine long-term trends and patterns." Evolution or revolution? Olivier thinks senior leadership can contribute to improved returns by appreciating the size of change possible. "If you want to become more competitive within your existing understanding of your company, then it's about finding problem areas to optimize." Arun suggests one place to start. "You're spending a lot of money on this, so find the waste. For example, if you don't know where the oil is and you're drilling in the wrong location. The business question is, how do we drill more in the right place?" The answer isn't always high-tech. "Once you understand the business question, you'll know what technology to find. If software from the 1990s can solve your problem beautifully, use that. Or if you find nothing available, technology like AI might solve it." Getting the people on side Failing to bring your people along on the tech journey can be expensive. Many fear technology will replace them, with Elon Musk saying there'll be no jobs for people in the future. How can leaders ensure people understand tech is there to help, not put them out of work? Arun says, "When calculators came out, they didn't replace accountants – but they let them do a better job, faster. Generative AI solutions like chatbots and document generators are tools – they aim to do the mundane piece fast, then the artistic, skillful and human piece can follow." Arun has had much experience getting people on board with tech integration in industrial settings. "Technology change will create many new jobs. The economic models will change, jobs will be created and lost." "We'll still need project managers, HR and people who can communicate. You don't need to be a technical expert to take part in the transformation." Olivier highlights that cost savings can flow from upskilling employees. "It's easier for someone to learn a new skill than learn everything about a company from scratch. Focusing on employee retention and development rather than letting workers fall by the wayside makes good financial sense." Cybersecurity education's role in new tech adoption Dr. Amin Hasbini, Head of Research Center Middle East, Turkey and Africa for Kaspersky Global Research and Analysis Team (GReAT,) thinks successful tech adoption means getting everyone up to speed on cybersecurity. But many companies aren't yet doing it. Amin says, "A recent Kaspersky and Longitude study found organizations that emphasize cybersecurity training have 25 percent more readiness for dealing with security incidents from employees." The most effective forms of cybersecurity education are generally immersive. Amin says, "Gaming and VR are great for security training because they allow better engagement and learning. Gamification and competition challenges improve managers and director safeguarding decisions." Some approaches are even more immersive. "The most successful involve simulating a real attack on the organization when only a few people in top management know it's a simulation. They test employee capacity and how well teams cooperate to contain and close down an incident." Training must go beyond the IT team. "Security everyone's job, from desk employees in a remote office to top managers. If everyone is aware, it stops incidents getting big." How much risk is right? Arun says businesses must accept that in making room for success, some initiatives will fail. "If you're reimagining with a bold vision, you're guessing about the future. Some guesses will come true – others won't. If your structure has no room for failure, you sell out the opportunity for innovation." He says one way is to make a few calculated smaller bets rather than one big bet. Even if some fail, it's better than not taking those risks. Olivier points to lower-risk ways to trial solutions. "You don't have to buy all your technology anymore. With cloud services and managed services, fantastic industry partners can help you test, implement or scale up new tech. There's a giant menu of opportunities to get expert help." With enterprises finding many tech investments don't pay off, there's much potential for competitive advantage in smarter exploration of new tech options. Business leaders may find more implementations succeed if they start with the right problems and upskill their people as part of the transformation.
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How virtual and extended reality are transforming business

  • min read
    • Between virtual reality (VR,) augmented reality (AR) and assisted reality – or their catch-all names mixed reality and extended reality (XR) – you might feel like you're losing your grip on all of them. But many businesses are reaching out to these emerging technologies to help solve tough problems like getting the team together remotely and hands-on training. On Kaspersky's new podcast, Insight Story, Episode 6, I look at extended reality with Dr. Paul Tennent (UK,) Associate Professor, Mixed Reality Lab, University of Nottingham and David Kim (South Korea,) Business Development Manager for Soma virtual office by Zigbang. Insight Story unpacks emerging tech trends with global specialists and businesses successfully applying the technology. VR, AR, XR – what are the different realities? These technologies all fall somewhere on the virtuality-reality continuum, according to Paul. "We've got these two ends – virtuality and reality. All the way along this spectrum are these technologies. They're generally about replacing our senses with something else – for example, our vision with a screen close to our eyes, hearing with headphones or touch with haptics. Augmented reality (AR) involves putting digital things in the real world. Assisted reality involves telepresence. Mixed and extended reality (XR) are catch-alls for everything from virtual reality to assisted reality to telepresence." Business has applied these technologies for over a decade. The IKEA app uses AR to let you superimpose their furniture on your room. Chat video filters that make your face look like a cute dog are also AR. While we're familiar with these kinds of consumer uses, businesses are increasingly using XR in their work with other businesses (B2B.) Paul has seen engineering companies make good use of assisted reality. "You can support on-site engineers with assisted reality, having somebody sitting behind them, watching what they're doing." "If you were installing a heat pump, it's useful to see a geothermal survey of the area before you drill a big hole. AR can add that layer of data onto real life," says Paul. An engineer could see the extra data layer by pointing a smartphone or tablet at what they're working on. One award-winning use of haptics – technology that transmits tactile information like vibration, feel and force – in training vets often provokes laughs but helps solve a serious problem. "A virtual, haptic simulation of a cow's back end helps vets-in-training feel different contexts, like something cancerous or moving a calf. With virtual glasses, it looks like a real cow. We see similar uses in medicine, with point-based haptic systems imitating a scalpel cutting through skin." Virtually solving the remote collaboration problem Few businesses need to teach how to deliver a calf, but almost all are looking for ways to better facilitate collaboration in remote and hybrid work. Proptech startup Zigbang started creating virtual office Soma during the pandemic. David says, "When our company went remote, we did what everyone did – endless Zoom calls where you fall into Zoom fatigue. A missing core element was togetherness – small conversations that turn into bigger ideas. We wondered if there's a way to better go about this remote thing." Zigbang's existing work creating 3D models of apartments sparked an idea. "We thought, why don't we create an office we could go into together? We started testing it with developers and thought it was good enough to bring in the whole company." In Soma, avatars represent colleagues, with their device's camera feed over the avatar's head. Like in real life, if you're far from someone, you can't see or hear them. As you walk closer, you start to see them and, when really close, hear their audio and see them clearly. David says, "We wanted to create that instantaneous communication – being able to walk up to someone and ask, did you get that email?" If, like me, you enjoy the solitude of remote working, and find the idea of your boss's avatar stealthily approaching and interrupting you unappealing, there's a middle way. Soma lets staff ensure they're left alone to do deep work. "We designed spaces for people to get away from others and get work done – bookable conference rooms and 'pods' – by walking into a pod, you're saying, I don't want to be disturbed." David also has ideas to address some of the challenges for office-less businesses. "Employees who don't have enough space or privacy to work at home may prefer to be in the office where everything's set up, and companies pay for air conditioning, electricity and internet. There are different ways to handle that – one is a stipend to help staff set up a home office. We've also set up lounges across the city where employees can go to work." The shared office space market is booming – expected to be worth 123 billion US dollars by 2028. Reducing cybersecurity risk with realities Kaspersky's Fabio Assolini sees several privacy and cybersecurity risks for businesses using extended reality tech. "During the pandemic, we saw the rise of so-called Zoombombing – when someone accesses a conference call without permission and shows obscene or violent material. It can affect VR devices too." How Zoombombing happens isn't high-tech. Fabio says, "People openly share passwords. Employees must be trained not to." Meanwhile, VR headsets are in a league of their own for privacy concerns. Meta's Quest Pro headset has four front-facing cameras, three on each controller and several to track eyes and facial expressions. These devices could give deep insight into users' activity, read emotional reactions to ads and make inferences from your home interior — from what colors you like to how many pets and children you have. But none of this should deter businesses from exploring what immersive tech can do as a training aid. "The tech is already in use to help people learn about security problems or cyberattacks," says Fabio. Kaspersky Interactive Protection Simulation sees teams, including technical staff and leaders, protecting a virtual business from cyberattacks. Players use a limited budget and a moderator's input to build an optimal protection strategy. It helps managers and directors understand cybersecurity budgets better. Realities' future Asked where extended reality might go next, Paul predicts "a shift slightly away from VR towards AR. We're headed for a fluid reality, which is part physical and part digital." David urges businesses to get on board with these technologies. "Things are changing now in the realm of work. Companies more willing to look into and implement changes early will be the ones that succeed down the line." Listen to the full Insight Story audio series on Podbean or your usual podcast provider.
insight story blockchain

Blockchain’s amazing versatility promises world-changing uses

  • min read
    • New blockchain applications are spreading fast in every type of business. It can do things once hard to do reliably, like validating supply chain sustainability, giving consumers more trustworthy information and even rewarding people for getting exercise. Does your business need to get to grips with blockchain, and how could you use it to transform your business for the better? Kaspersky's new podcast, Insight Story, unpacks emerging tech trends with global specialists and businesses successfully using the tech. Episode 3 looks at blockchain. I speak with UK-based Helen Disney, Director of The Realization Group and Founder of Unblocked. Germany-based Abhi Sharma, Global Lead of Mobility Platform, Blockchain and Partner Universe at BASF also joins us. A simple way to understand blockchain Helen likens blockchain to an old idea everyone recognizes. "We've had ledgers for a long time – someone sends you an invoice, you write down when someone pays and match the two. Blockchain is a digital, distributed ledger. It provides an audit trail for all transactions and activities on a shared network. 'Distributed' means everyone in that network has a copy, so you can't go back in time and change things." Businesses see that a reliable, shared ledger that's hard to change makes more things possible. Helen says, "There are examples of using blockchain in business and for social impact, like in healthcare and supply chains, in creative industries, the energy sector and environmental initiatives. In financial services, blockchain can create efficiencies, speed up settlement times and let people transact with assets not currently tradable." Blockchain Research Institute continually examines the many applications of blockchain, from ocean health to medical research to border security. Grand View Research estimates the global blockchain market is worth 10 billion US dollars today and will grow 88 percent each year. Cottoning on to value in supply chain sustainability Abhi Sharma explains a BASF blockchain initiative that capitalizes on the premium consumers are willing to pay for sustainable products to incentivize sustainable cotton production. The largely undifferentiated nature of the commodity market has made this challenging in the past. Abhi says, "Farmers have had no incentive to use better practices to protect the environment because that information doesn't flow to the consumer." Seed 2 Sew aims to change that. "Farmers enter information in a mobile application at every stage of their season, harvest and delivery of goods. When they use sustainable practices like natural irrigation, they can enter the practice in the application and take photos for proof, creating extra value." It's not just farmers who could claim credit for doing the right thing. "Other players in the market could be motivated to install solar panels, use sustainable electricity and so forth." Seed 2 Sew is designed to fit naturally with how farmers already work. "They're not sitting at a computer filling in spreadsheets – they're taking photos in the field and feeding that data into the blockchain. Their motivation is high, because there's high demand on the retail side for more sustainable products." And on the retail side, consumers need confidence in sustainability claims. "Consumers are becoming more conscious. They want to buy less, but buy more meaningful, story-driven products. We're creating that traceability and transparency that prevents greenwashing." Where to start with blockchain But where should a business leader start? Helen thinks it's down to understanding your business as much as blockchain. "Think about, in my business, where could this be beneficial? Do I want to offer some reward points or incentives to customers, change the business's financial infrastructure, or do something with my supply chain? Start with what's important to you, and look for real-world examples of what's been done." Many early-adopter projects haven't continued, and Abhi sees lessons in that. "Organizations need a start-up culture. You need fail fast, learn fast models. But it's more about the people than the investment – whether they can drive a project, whether they can scale it. Your people will drive your idea into the marketplace." He thinks exploring blockchain is worth it regardless of whether you ultimately use it. "For those who've dived into it, it shifts their mindset. Thinking about the possibilities gives them different ideas. Once you realize you can do something in a decentralized or distributed way, it changes how you think." Blockchain and cybersecurity Head of Kaspersky Global Research and Analysis Team (GReAT) for Latin America, Fabio Assolini, thinks businesses should note risks associated with blockchain, whether you use it in your business or not. "Blockchain isn't immutable. Attacks on these systems have happened, like 51 percent attacks." That's when a group of cryptocurrency miners achieves control of more than half of a network's computational power, allowing them to alter the blockchain. "Another problem with blockchain is double-spending – under certain conditions, miners can modify blocks to spend cryptocurrency twice. For small companies, that can be a real problem." But cybercriminals using blockchain is behind a fast growing number of attacks. "Cryptojacking is one of the most common attacks. Cybercriminals hijack the power of processing on your servers by programming your device to mine cryptocurrency for them. When they invade a system, they will also sell the access to other cybercriminals." Cryptojacking is rising dramatically – Kaspersky research showed a 230 percent increase in 2022. It can slow systems and ramp up your energy bills, but Fabio warns there aren't always obvious signs. "More professional fraudsters prepare crypto mining software that runs smoothly. The administrator may not realize there's something going on." Businesses can prevent cryptojacking by adopting cybersecurity best practice. "There's no single action, but a set of good practices to protect against remote access. For example, you need firewalls, access control to all systems and logging of all user activity," says Fabio. "Attacks that install crypto mining software will also be detected by a good endpoint security solution." Where will blockchain go next? Blockchain will be as common as smartphones, according to Helen. "In the future, we'll all have a web wallet and assets and tokens sitting on blockchains." She believes the incentives and benefits will compel consumers to adopt blockchain-based products fast. "We're already seeing examples, like play-to-earn games, where you can earn cryptocurrency playing computer games and then trade it for other things. Sweatcoin lets you earn money for walking. These apps also generate data business or research organizations could use to understand our lives better." Our experts have a few thoughts for those considering or starting to use blockchain. Abhi says, "Business leaders should think more about how to maintain it. I see many sustainability-related blockchain initiatives, but few survive." Helen thinks we need a more widespread understanding of blockchain to unleash its true potential. "We can solve big global problems by building communities of interest and incentivizing change. Blockchain is for everybody. You needn't be technical to understand it. Make time to learn, and you'll find it fascinating." Listen to the full Insight Story audio series on Podbean or your usual podcast provider.
insight story smart grids

As bills rise, smart businesses are saving with smart energy tech

  • min read
    • Alongside emissions reduction goals, energy prices have hoisted reducing energy consumption to the top of business agendas. In the UK, between 2022 and 2023, electricity prices rose 67 percent and gas prices 129 percent. In the US, energy prices are up as much as 40 percent. It's no longer a case of, should businesses cut their energy use, but how? Many organizations are looking for technologies that can help them better control their power use and use more renewable energy. As I wrote in this primer on electricity's history, a shocking 13 percent of the world's population, mostly in sub-Saharan Africa, have no access to electricity. Could more business investment in renewables help to bridge the gap? Kaspersky's new podcast, Insight Story, unpacks emerging tech trends with global specialists and businesses successfully using the tech. Episode 2 looks at smart energy. I speak with Feroz Koor, Group Head of Sustainability at Woolworths Holdings. South Africa and Singapore-based Nilesh Jadhav, Founder and CEO of BtrLyf creators Qi Square, and former Programme Director, EcoCampus initiative, Nanyang Technological University. BtrLyf is an "AI-enabled assessment and marketplace platform to plan and achieve super-low energy, net zero and green certified buildings, quickly and at super-low costs." It creates 'digital twins' that let businesses model a range of energy conservation measures to find out what will work best.  Slashing grocery energy bills Woolworths has some 1,400 stores in Sub-Saharan Africa, Australia and New Zealand selling groceries, clothing, homeware and more. "Retail food businesses have a large energy footprint," says Feroz. Sustainability data science experts ESource says energy costs make up around 15 percent of food retail overheads. Feroz's company opted for smart tech to become more energy-efficient. "We've sub-metered all our stores with smart meters. There are different meters for lighting, refrigeration and air conditioning for example, so we can see what's driving consumption." The tech isn't cheap but paid for itself fast. Feroz recounts a huge discovery: "After metering one store in a new shopping center, we found we were being billed for other stores' electricity – the meters paid for themselves on the first day by proving it. We often use smart meter data to challenge incorrect billing – you'd be surprised how common it is." Meanwhile, the meters helped identify small changes that could save a lot of power. From smarter stores to smarter buildings Nilesh Jadhav, Founder of Qi Square who created BtrLyf, says, "Our customers want to improve their energy efficiency and reduce reliance on imported energy. Our platform makes the data available. So far, we've made digital models of 20,000 buildings in Singapore." Modeling their buildings gives businesses an approachable window on a daunting task. "If businesses can do an initial assessment of how they could save energy today, then how they could go to net zero [greenhouse gas emissions,] they can see the bigger picture." Woolworths is approaching a similarly daunting task – to use 100 percent sustainable energy by 2030. Feroz says, "We've made the commitment because it's the right thing to do, but we've got our work cut out for us. We have several options, like self-generation at shopping center level or sourcing from independent bulk producers. We're looking at wheeling, where you buy energy from a producer who then 'wheels' it through a distribution network. " From smarter buildings to smarter energy grids Increasingly nations and energy companies are making electricity smarter at grid level, aiming to reduce emissions and improve energy security. Smart grids can detect and react to customer use patterns, empower consumers to be more energy efficient and encourage renewable energy production by buying excess. All this can maximize renewable energy use and minimize the use of fossil fuel to generate electricity. Nilesh continues, "Microgrids take it to a system level using central energy management software and batteries to manage fluctuations." Smart grids also enable a market that incentivizes renewable energy production. Nilesh says, "If you can't put solar panels on your roof but your neighbor can, you could make a power purchase agreement (PPA). Singapore also has a market for renewable energy credits: You can buy these credits instead of buying electricity directly. If I want renewable energy but can't pay upfront for solar panels, buying renewable energy credits encourages third parties to invest, then sell the power." Securing smarter energy solutions Fabio Assolini, Head of Kaspersky Global Research and Analysis Team for Latin America, advises companies and nations to approach smart energy tech with due caution. "We've seen destructive attacks on civilian energy infrastructure – not just power grids, but their systems too." Fabio says over the years, these kinds of attacks are increasing. In 2021, a ransomware attack shut down a major US fuel pipeline. The same year, IBM reported energy was the third most attacked sector. Kaspersky threat predictions for 2023 foresee hacker groups carrying out high-profile cyberattacks on civilian infrastructure – such as energy grids and public broadcasting – using advanced persistent threats (APTs.) Critical infrastructure makes an attractive target for cybercriminals because of how much disruption successful attacks cause. Fabio suggests businesses pay attention to the security of their in-house energy infrastructure, as it may be particularly vulnerable. "Corporate and personal power grids are not as well protected as national infrastructure. They're often connected to the internet using older, more vulnerable hardware, and software not readily updated. Do a full security audit before launching a microgrid or smart grid." The future of smart energy for business Nilesh sees smart energy tech evolving through user participation. "On the tech side, I hope it'll go the same way as the smartphone: More resources for companies and innovators to make applications that sit on a central platform. Users could then adopt energy management tech faster. Over time, you'll see more participation from consumers." On the energy side, he thinks peer-to-peer energy sales are the future. "More people will be 'prosumers:' Consuming and producing energy and being paid for excess. Everyone will have better energy-buying options." Feroz has simple advice for businesses wanting to reduce their energy footprint. "Start now. The sooner you start doing something, whether it's just understanding your footprint or what your needs are, the better." Listen to the full Insight Story audio series on Podbean or your usual podcast provider.
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