News

The Coming Consumer Data Wars

When companies come looking for permission to use their European customers’ data after the General Data Protection Regulation (GDPR) takes effect on May 25, 2018, the answer may well be “no.” In a recent OliverWyman survey of 1,500 British consumers, our company discovered that as many as half said they were already leaning toward reclaiming their information.

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Unlocking the Value of Augmented Reality Data

The word “sensor” has become inseparable from the internet of things (IoT), where sensors detect environmental conditions and communicate these signals bidirectionally as data, whether it’s an industrial machine reporting its operating condition or your home thermostat being turned on remotely. This data is a key driver of the IoT’s global economic impact, which McKinsey estimates could reach up to $11.1 trillion per year by 2025.

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The Problem With Big Data

Because of big data — a term that has come to refer to the immense amount of digital material we generate, store, and manipulate with increasing ability — managers can measure more about their companies and then use that information to drive performance. Need to heighten the productivity of your workforce? Big data can help.

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The Machine Learning Race Is Really a Data Race

Machine learning — or artificial intelligence, if you prefer — is already becoming a commodity. Companies racing to simultaneously define and implement machine learning are finding, to their surprise, that implementing the algorithms used to make machines intelligent about a data set or problem is the easy part.

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Is Your Security Team Built for the Cloud and Edge Computing Era?

When cyber criminals pierce a company’s IT defenses, organizations are often quick to blame a security loophole and promise a patch to assuage user concerns. But the proliferation of these often-devastating hacks shows that there’s something much larger at play: The way companies handle security needs to undergo a revolution.

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The Board’s Role in Managing Cybersecurity Risks

Today, more than ever, the demands posed by issues of cybersecurity clash with both the need for innovation and the clamor for productivity. Increasingly, cybersecurity risk includes not only the risk of a network data breach but also the risk of the entire enterprise being undermined via business activities that rely on open digital connectivity and accessibility.

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Four Reasons Your Company May Be Susceptible to Disruption

Today, more than ever, the demands posed by issues of cybersecurity clash with both the need for innovation and the clamor for productivity. Increasingly, cybersecurity risk includes not only the risk of a network data breach but also the risk of the entire enterprise being undermined via business activities that rely on open digital connectivity and accessibility.

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Why Businesses and Governments Need to Stop Trying to Secure Their Networks

Fifty years of computer network design have enabled big companies to share information and applications with employees around the world, keeping them in sync, growing businesses, and generating wealth. Networks are the fabric of globalization, and access to them is based on trust: If you have the right credentials, you are allowed in.

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The Trouble With Cybersecurity Management

Cybersecurity is becoming top of mind for customers and organizations, as highly publicized data breaches and cyberattacks at large corporations have revealed just how much damage a hacker can do by accessing or manipulating an organization’s systems. In addition to the immediate financial and operational consequences, a breached business often faces class-action lawsuits, regulatory fines, damage to its reputation, and a string of other ramifications.

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Achieving Trust Through Data Ethics

A few months ago, Danish researchers used data-scraping software to collect the personal information of nearly 70,000 users of a major online dating site as part of a study they were conducting. The researchers then published their results on an open scientific forum. Their report included the usernames, political leanings, drug usage, and other intimate details of each account.

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Your Customers May Be the Weakest Link in Your Data Privacy Defenses

Does your company have consumer data it isn’t legally authorized to possess?

Don’t be too quick to answer. Many ethical, lawfully managed businesses do have such data — and it comes from a surprising source: their customers, who inadvertently share the personal data of their family, friends, and colleagues.

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What Cloud Localization Means for Organizations

India Cloud, China Cloud, U.K. Cloud, and U.S. Cloud — it may not be long before we are talking about country-specific cloud technology. Until now, the spotlight has been on cloud providers — Microsoft, IBM, Amazon, Google, Alibaba — and their generic and industry-specific capabilities. Data localization has often been considered an afterthought, but this issue is one that enterprises must consider in their cloud computing strategy as they invest and innovate with emerging technologies such as artificial intelligence, internet of things (IoT), and blockchain.

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Safeguard Your Organization’s IoT Initiatives

Recently, attackers broke into an unnamed casino and stole data by compromising an internet-connected fish tank. If this were a plot device in a Hollywood thriller, the cyberattack method would likely be deemed far too implausible and left on the cutting-room floor — not to mention the preposterous idea that thieves find a better return on investment (ROI) in stealing data from a casino instead of stealing money. But both the method and “goods” targeted by the thieves are real.

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How Banks Can Lead the Shift to AI-First

Banking provides a fertile ground for artificial intelligence. After all, AI lives on data, and banks are information businesses with terabytes of data. One breakthrough in AI is supervised learning, which enables a machine to mimic a human’s decision-making process based on what may be millions of examples.

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The Internet of (Wonderful and Scary) Things

Smart devices, once relegated to science fiction and our imaginations, are now ubiquitous. Today, there’s a market for everything from a Wi-Fi connected refrigerator to a voice-operated speaker that doubles as a personal assistant. The internet of things (IoT) — the software-operated network of physical devices, appliances, vehicles — grows day by day as these devices become part of our daily lives. A March 2018 survey found that 22% of Americans used IoT appliances in their homes, and this trend is widespread across the globe.

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The advantages of analytics to customer service have already been shown. Now the question becomes: How can analytics be used to improve security?

Organizations are collecting more and more data. And while rich data allows personalized service, detailed data about real people (rightly) often raises concerns. Just as this data is increasingly valuable to organizations, it can be valuable to criminals as well, leading to an ever-escalating series of data breaches.

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Is Your Company Ready for a Cyberattack?

The U.S. military views cyberspace as a critical domain it must protect — similar to air, sea, and land. It regularly conducts war games to expose and eliminate risks to data and networks and to test its cyber defense tactics and strategies. As part of that effort, the military and other government agencies, including the U.S. Department of Homeland Security, have launched “bug bounty” programs that reward so-called ethical hackers (people hired by organizations to hack into their computer systems) for identifying and repairing potential vulnerabilities.

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Improving Your Bottom Line With Cybersecurity

Cybersecurity budgeting is one of the most peculiar efforts today in corporate strategy and planning. For a cyber leader, requesting a budget is unfortunately more art than science. This is because measuring and communicating cyber risk is notoriously difficult — the threat is always morphing, enterprise vulnerability is fluid, and business impacts are far-reaching and tough to calculate. To justify budget requests, cyber leaders inevitably incorporate headline news that instills fear, uncertainty, and doubt. Here, leaders seek to influence through emotion.

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What Executives Get Wrong About Cybersecurity

Cyberattacks are in the news. All kinds of organizations — ranging from Target Corp., Yahoo Inc., Sony Pictures Entertainment, and Bangladesh Bank to the Democratic National Committee in the United States — have fallen victim to them in recent years. To gain a better understanding of cybersecurity threats — and what executives should do to better protect their companies — MIT Sloan Management Review sought out cybersecurity expert Stuart E. Madnick.

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Secrets in the Age of Data

Secrets may be an unexpected casualty of increasing analytical prowess. Just ask Volkswagen. Their data seems to have been as dirty as exhaust from their cars, which were recently found to be exceeding U.S. emissions standards. The Environmental Protection Agency asserts that the carmaker manipulated software so that performance differed during testing. Analysis of data from real driving conditions later indicated something might be amiss. While the secret lasted a while, it didn’t last forever.

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