IBM has launched an Internet of Things system as part of Watson. The tools is called Cognitive Visual Inspection, and the idea is to provide manufacturers with a “cognitive assistant” on the factory floor to minimize defects and increase product quality. According to IBM, in early production-cycle testing, Watson was able to reduce 80% of the inspection time while reducing manufacturing defects by 7-10%.
The system uses an ultra-high definition camera and adds cognitive capabilities from Watson to create a tool that captures images of products as they move through production and assembly. Together with human inspectors, Watson recognizes defects in products, including scratches or pinhole-size punctures.
“Watson brings its cognitive capabilities to image recognition,” Bret Greenstein, VP of IoT at IBM, told Design News. “We’re applying this to a wide range of industries, including electronics and automotive.”
The Inspection Eye That Never Tires
The system continuously learns based on human assessment of the defect classifications in the images. The tool was designed to help manufacturers achieve specialization levels that were not possible with previous human or machine inspection. “We created a system and workflow to feed images of good and bad products into Watson and train it with algorithms,” said Greenstein. “This is a system that you can be trained in advance to see what acceptable products look like.”
According to IBM, more than half of product quality checks involve some form of visual confirmation. Visual checking helps ensure that all parts are in the correct location, have the right shape or color or texture, and are free from scratches, holes or foreign particles. Automating these visual checks is difficult due to volume and product variety. Add to that the challenge from defects that can be any size, from a tiny puncture to a cracked windshield on a vehicle.
Some of the inspection training precedes Watson’s appearance on the manufacturing line. “There are several components. You define the range of images, and feed the images into Watson. When it produces the confidence level you need, you push it to the operator stations,” said Greenstein. “Watson concludes whether the product awesome or defective. You let the system make the decision.”
The ultimate goal is to keep Watson on a continuous learning curve. “We can push this system out to different manufacturing lines, and we can train it based on operators in the field and suggest changes to make the system smarter, creating an evolving inspection process,” said Greenstein.
The ABB Partnership
As part of its move into the factory, IBM has formed a strategic collaboration with ABB. The goal is to combine ABB’s domain knowledge and digital solutions with IBM’s artificial intelligence and machine-learning capabilities. The first two joint industry solutions powered by ABB Ability and Watson were designed to bring real-time cognitive insights to the factory floor and smart grids.
The suite of solutions developed by ABB and IBM are intended to help companies Excellerate quality control, reduce downtime, and increase speed and yield. The goal is to Excellerate on current connected systems that simply gather data. Instead, Watson is designed to use data to understand, sense, reason, and take actions to help industrial workers to reduce inefficient processes and redundant tasks.
According to Greenstein, Watson is just getting its industry sea legs. In time, the thinking machine will take on increasing industrial tasks. “We found a wide range of uses. We’re working with drones to look at traffic flows in retail situation to analyze things that are hard to see from a human point of view,” said Greenstein. “We’re also applying Watson’s capabilities to predictive maintenance.
Rob Spiegel has covered automation and control for 17 years, 15 of them for Design News. Other Topics he has covered include supply chain technology, alternative energy, and cyber security. For 10 years, he was owner and publisher of the food magazine Chile Pepper.
Image courtesy of IBM
Cybersecurity has always been a concern for every type of organization. Even in normal times, a major breach is more than just the data economy’s equivalent of a ram-raid on Fort Knox; it has knock-on effects on trust, reputation, confidence, and the viability of some technologies. This is what IBM calls the “haunting effect”.
A successful attack breeds more, of course, both on the same organization again, and on others in similar businesses, or in those that use the same compromised systems. The unspoken effect of this is rising costs for everyone, as all enterprises are forced to spend money and time on checking if they have been affected too.
But in our new world of COVID-19, disrupted economies, climate change, remote working, soaring inflation, and looming recession, all such effects are all amplified. Throw in a war that’s hammering on Europe’s door (with political echoes across the Middle East and Asia) and it’s a wonder any of us can get out of bed in the morning.
So, what are the real costs of a successful cyberattack – not just hacks, viruses, and Trojans, but also phishing, ransomware, and concerted campaigns against supply chains and code repositories?
According to IBM’s latest annual survey, breach costs have risen by an unlucky 13% over the past two years, as attackers, which include hostile states, have probed the systemic and operational weaknesses exposed by the pandemic.
The global average cost of a data breach has reached an all-time high of $4.35 million – at least, among the 550 organizations surveyed by the Ponemon Institute for IBM Security (over a year from March 2021). Indeed, IBM goes so far as to claim that breaches may be contributing to the rising costs of goods and services. The survey states:
Sixty percent of studied organizations raised their product or services prices due to the breach, when the cost of goods is already soaring worldwide amid inflation and supply chain issues.
Incidents are also “haunting” organizations, says the company, with 83% having experienced more than one data breach, and with 50% of costs occurring more than a year after the successful attack.
Cloud maturity is a key factor, adds the report:
Forty-three percent of studied organizations are in the early stages [of cloud adoption] or have not started applying security practices across their cloud environments, observing over $660,000 in higher breach costs, on average, than studied organizations with mature security across their cloud environments.
Forty-five percent of respondents run a hybrid cloud infrastructure. This leads to lower average breach costs than among those operating a public- or private-cloud model: $3.8 million versus $5.02 million (public) and $4.24 million (private).
That said, those are still significant costs, and may suggest that complexity is what deters attackers, rather than having a single target to hit. Nonetheless, hybrid cloud adopters are able to identify and contain data breaches 15 days faster on average, says the report.
However, with 277 days being the average time lag – an extraordinary figure – the real lesson may be that today’s enterprise systems are adept at hiding security breaches, which may appear as normal network traffic. Forty-five percent of breaches occurred in the cloud, says the report, so it is clearly imperative to get on top of security in that domain.
IBM then makes the following bold claim :
Participating organizations fully deploying security AI and automation incurred $3.05 million less on average in breach costs compared to studied organizations that have not deployed the technology – the biggest cost saver observed in the study.
Whether this finding will stand for long as attackers explore new ways to breach automated and/or AI-based systems – and perhaps automate attacks of their own invisibly – remains to be seen. Compromised digital employee, anyone?
But perhaps the most telling finding is that cybersecurity has a political dimension – beyond the obvious one of Russian, Chinese, North Korean, or Iranian state incursions, of course.
Concerns over critical infrastructure and global supply chains are rising, with threat actors seeking to disrupt global systems that include financial services, industrial, transportation, and healthcare companies, among others.
A year ago in the US, the Biden administration issued an Executive Order on cybersecurity that focused on the urgent need for zero-trust systems. Despite this, only 21% of critical infrastructure organizations have so far adopted a zero-trust security model, according to the report. It states:
Almost 80% of the critical infrastructure organizations studied don’t adopt zero-trust strategies, seeing average breach costs rise to $5.4 million – a $1.17 million increase compared to those that do. All while 28% of breaches among these organizations were ransomware or destructive attacks.
Add to that, 17% of breaches at critical infrastructure organizations were caused due to a business partner being initially compromised, highlighting the security risks that over-trusting environments pose.
That aside, one of the big stories over the past couple of years has been the rise of ransomware: malicious code that locks up data, enterprise systems, or individual computers, forcing users to pay a ransom to (they hope) retrieve their systems or data.
But according to IBM, there are no obvious winners or losers in this insidious practice. The report adds:
Businesses that paid threat actors’ ransom demands saw $610,000 less in average breach costs compared to those that chose not to pay – not including the ransom amount paid.
However, when accounting for the average ransom payment – which according to Sophos reached $812,000 in 2021 – businesses that opt to pay the ransom could net higher total costs, all while inadvertently funding future ransomware attacks.”
The persistence of ransomware is fuelled by what IBM calls the “industrialization of cybercrime”.
The risk profile is also changing. Ransomware attack times show a massive drop of 94% over the past three years, from over two months to just under four days. Good news? Not at all, says the report, as the attacks may be higher impact, with more immediate consequences (such as destroyed data, or private data being made public on hacker forums).
The key lesson in cybersecurity today is that all of us are both upstream and downstream from partners, suppliers, and customers in today’s extended enterprises. We are also at the mercy of reused but compromised code from trusted repositories, and even sometimes from hardware that has been compromised at source.
So, what is the answer? Businesses should ensure that their incident responses are tested rigorously and frequently in advance – along with using red-, blue-, or purple-team approaches (thinking like a hacker, a defender, or both).
Regrettably, IBM says that 37% of organizations that have IR plans in place fail to test them regularly. To paraphrase Spinal Tap, you can’t code for stupid.
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When it comes to operational challenges, few mistakes are as costly as data breaches. Just one exploited vulnerability can lead to millions in damages, not just due to upfront disruption, but a loss of respect from consumers and potential compliance liabilities.
Unfortunately, the cost of a data breach is only going up. Today, IBM Security released its annual “Cost of a Data Breach” report conducted by Ponemon Institute, which found that the cost of a data breach in 2022 totaled $4.35 million, an increase of 2.6% since last year’s total of $4.24 million.
The research also found that organizations that fell victim to cyberattacks were prime target for follow-up attacks as part of a “haunting effect”, with 83% of organizations studied having had more than one data breach.
For enterprises, the report highlights that new approaches are required to mitigate the impact of data breaches, particularly in the face of a growing number of sophisticated attacks, which can’t always be prevented.
As the cost of a data breach continues to rise amid a threat landscape of rampant double and triple extortion ransomware attacks and identity-related breaches, it’s becoming increasingly clear that traditional approaches to enterprise security need to be reevaluated.
In the last week alone, T Mobile and Twitter found out the cost of a data breach first hand with the former agreeing to pay customers $350 million as part of a post-breach settlement, and the latter having to deal with the negative fallout after a hacker claimed to have accessed data on 5.4 million users.
With the impact of such breaches causing millions in damage, many organizations decide to pass costs onto consumers, as part of an invisible cyber tax. In fact, IBM found that for 60% of organizations, breaches led to price increases passed on to customers.
“What stands out most in this year’s finding is that the financial impact of breaches is now extending well beyond the breaches organizations themselves,” said Head of Strategy, IBM Security X-Force, John Hendley.
“The cost is trickling down to consumers. In fact, if you consider that two or three companies within a supply chain may have suffered a breach and increased their prices, there’s this multiplier effect that’s ultimately hitting the consumer’s wallet. Essentially, we’re now beginning to see a hidden “cyber tax” that individuals are paying as a result of the growing number of breaches occurring today compounded with the more obvious disruptive effects of cyberattacks,” Hendley said.
When asked why the cost of data breaches continued to grow, Hendley explained that there’s a high volume of attacks occurring, but only a limited number of skilled security professionals available to respond to them.
This is highlighted in the research with 62% of organizations saying they weren’t sufficiently staffed to meet their security needs.
Although the report highlights the bleakest of the current threat landscape, it also points to some promising technologies and methodologies that enterprises can use to reduce the cost of data breaches.
For instance, one of the most promising findings was that organizations with fully deployed security AI and automation can expect to pay $3.05 million less during a data breach, and on average cut the time to identify and contain a breach by 74-days.
At the same time, organizations that implement zero trust can expect to pay 1 million less in breach costs than those that don’t.
Finally, those organizations maintain an incident response team and regularly tested IR plans can expect to cut the cost by $2.66 million.
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CoEnterprise, an IBM Platinum Partner and enterprise software and services company that solves data challenges in real-time, today announced that Syncrofy, their multi-enterprise data platform that enables transparency, intelligence, and automation across supply chain networks, is now a part of IBM's Supply Chain Partner Solution Showcase.
NEW YORK, August 5, 2022 /PRNewswire-PRWeb/ -- CoEnterprise, an IBM Platinum Partner and enterprise software and services company that solves data challenges in real-time, today announced that Syncrofy, their multi-enterprise data platform that enables transparency, intelligence, and automation across supply chain networks, is now a part of IBM's Supply Chain Partner Solution Showcase.
Created to help clients find a supply chain solution to address their unique business challenges, the IBM Supply Chain Partner Solution Showcase will feature IBM Business Partner-provided solutions that add value to IBM's existing supply chain and IBM Sterling B2B solutions.
"We are thrilled to be a part of this exclusive collection of IBM partner supply chain solutions," said Tauni MacLean, Vice President of Partners at CoEnterprise. "Over the years, we've discovered that so many companies today are operating with blind spots in their supply chain. Syncrofy enables them to gain supply chain insights and indicators right out of the box that they can't get from other applications. This truly reaffirms our commitment to making supply chain management and visibility attainable for organizations across the globe."
Designed for supply chain management, EDI, and compliance professionals, Syncrofy enables companies to consolidate information that's scattered throughout multiple systems—making it accessible for all users in all departments, without having to leverage IT staff or resources.
Here's how it fills the gaps of existing applications on the market today:
Syncrofy helps many Fortune 100 companies and SMBs across various industries and verticals see and analyze their data while improving their supply chain, EDI, and compliance operations and processes.
To explore how Syncrofy can help your business today, or to sign up for a complimentary demo, click here.
CoEnterprise is a transformative, problem-solving enterprise software and services company. Founded in 2010, we are recognized as a leader in the supply chain and business analytics space, delivering innovative solutions and services that empower people with the resources to analyze their data to make faster, smarter decisions. Fueled by our commitment to people and building lasting relationships, we've helped more than 350 customers on over 1,000 projects—encompassing everything from data integration, to comprehensive analytics platforms, and application modernization. Bottom line, we've done it all for some of the most recognized brands in the industry. Visit http://www.coenterprise.com for more information.
Tauni MacLean, CoEnterprise, 1 773-860-4279, Tauni.MacLean@coenterprise.com
IBM Report: Consumers Pay the Price as Data Breach Costs Reach All-Time High
60% of breached businesses raised product prices post-breach; vast majority of critical infrastructure lagging in zero trust adoption; $550,000 in extra costs for insufficiently staffed businesses
CAMBRIDGE, Mass., July 27, 2022 /PRNewswire/ -- IBM (NYSE: IBM) Security today released the annual Cost of a Data Breach Report,1 revealing costlier and higher-impact data breaches than ever before, with the global average cost of a data breach reaching an all-time high of $4.35 million for studied organizations. With breach costs increasing nearly 13% over the last two years of the report, the findings suggest these incidents may also be contributing to rising costs of goods and services. In fact, 60% of studied organizations raised their product or services prices due to the breach, when the cost of goods is already soaring worldwide amid inflation and supply chain issues.
The perpetuality of cyberattacks is also shedding light on the "haunting effect" data breaches are having on businesses, with the IBM report finding 83% of studied organizations have experienced more than one data breach in their lifetime. Another factor rising over time is the after-effects of breaches on these organizations, which linger long after they occur, as nearly 50% of breach costs are incurred more than a year after the breach.
The 2022 Cost of a Data Breach Report is based on in-depth analysis of real-world data breaches experienced by 550 organizations globally between March 2021 and March 2022. The research, which was sponsored and analyzed by IBM Security, was conducted by the Ponemon Institute.
Some of the key findings in the 2022 IBM report include:
"Businesses need to put their security defenses on the offense and beat attackers to the punch. It's time to stop the adversary from achieving their objectives and start to minimize the impact of attacks. The more businesses try to perfect their perimeter instead of investing in detection and response, the more breaches can fuel cost of living increases." said Charles Henderson, Global Head of IBM Security X-Force. "This report shows that the right strategies coupled with the right technologies can help make all the difference when businesses are attacked."
Over-trusting Critical Infrastructure Organizations
Despite the call for caution, and a year after the Biden Administration issued a cybersecurity executive order that centers around the importance of adopting a zero trust approach to strengthen the nation's cybersecurity, only 21% of critical infrastructure organizations studied adopt a zero trust security model, according to the report. Add to that, 17% of breaches at critical infrastructure organizations were caused due to a business partner being initially compromised, highlighting the security risks that over-trusting environments pose.
Businesses that Pay the Ransom Aren't Getting a "Bargain"
The persistence of ransomware, despite significant global efforts to impede it, is fueled by the industrialization of cybercrime. IBM Security X-Force discovered the duration of studied enterprise ransomware attacks shows a drop of 94% over the past three years â€“ from over two months to just under four days. These exponentially shorter attack lifecycles can prompt higher impact attacks, as cybersecurity incident responders are left with very short windows of opportunity to detect and contain attacks. With "time to ransom" dropping to a matter of hours, it's essential that businesses prioritize rigorous testing of incident response (IR) playbooks ahead of time. But the report states that as many as 37% of organizations studied that have incident response plans don't test them regularly.
Hybrid Cloud Advantage
The report highlights that 45% of studied breaches occurred in the cloud, emphasizing the importance of cloud security. However, a significant 43% of reporting organizations stated they are just in the early stages or have not started implementing security practices to protect their cloud environments, observing higher breach costs2. Businesses studied that did not implement security practices across their cloud environments required an average 108 more days to identify and contain a data breach than those consistently applying security practices across all their domains.
Additional findings in the 2022 IBM report include:
About IBM Security
IBM Security Communications
1 Cost of a Data Breach Report 2022, conducted by Ponemon Institute, sponsored, and analyzed by IBM
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DUBLIN--(BUSINESS WIRE)--Jul 29, 2022--
The “Identity and Access Management Market - Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2026)” report has been added to ResearchAndMarkets.com’s offering.
According to the publisher, the global identity and access management market is expected to exhibit paced growth at a CAGR of 14.8% during 2021 and 2026, growing from a valuation of US$ 10,145.0 million in 2019 to US$ 24,849.0 million in 2026.
Over the past decade, growing internet usage and robust digitization of various business processes have attracted the interest of malicious entities such as hackers and other cybercriminals. Personal information stored on countless servers across the world is also vulnerable, leading to a growing number of identity thefts. Industry experts state that identity fraud grew by 45% in the year 2020. Modern cybercriminals also utilize technological advancements such as machine learning to boost the intensity and volume of their attacks.
These have resulted in massive financial losses for individuals, as well as damage to companies’ reputations and compromised assets. The incessant rise in cyberattacks and identity thefts has propelled cybersecurity solutions such as identity and access management to the status of utmost importance, factoring into the paced growth of the global identity and access management market.
Prominent Highlights of Identity and Access Management Market
Evolving Work Culture Create Promising Growth Opportunities
The growing number and intensity of identity thefts and other cyberattacks have motivated organizations throughout the world to reconsider their cybersecurity strategy. Modern solutions, competent personnel, and robust cybersecurity infrastructure are in high demand as organizations rush to overcome cybersecurity vulnerabilities. The rapid adoption of cloud-based technologies for remote work models has motivated organizations across the world to employ advanced cybersecurity solutions.
Users are now accessing their work data while using smartphones, personal computers, laptops, and public internet. This has made it hard for cybersecurity professionals to accurately monitor who is accessing their company’s confidential data and how secure their connection is. This has furthered the need to switch to specialized cybersecurity tools. The above factors are creating favourable business prospects for the growth of the global identity and access management market in the forecast period.
Extensive Digitalisation Propels North America Region to a Position of Market Leadership
North America has been a primary target of cybercriminals owing to extensive digitization across industries, adoption of cloud technologies, and high data consumption in the region. This has been the primary factor behind the dominance of North America in the identity and access management market.
Asia Pacific region’s identity and access management market is expected to register the fastest growth owing to the increasing number of cyber-attacks being launched at companies in India. The robust investments in digital technologies, high smartphone usage, and the presence of small and medium-sized online businesses is also giving an impetus to market growth in Asia Pacific.
For more information about this report visit https://www.researchandmarkets.com/r/ws8m1x
View source version on businesswire.com:https://www.businesswire.com/news/home/20220729005180/en/
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INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS INTERNET SECURITY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 07/29/2022 06:08 AM/DISC: 07/29/2022 06:08 AM