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How can smart energy save you money?

As energy insecurity and prices rise, businesses are feeling the pinch of power. We look at how companies use smart metering, microgrids and smart energy platforms to save money, gain business insight and cut emissions.

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What can blockchain do for your business?

Blockchain technology is no longer just used by cryptocurrencies. Its application is spreading fast through every type of business. Ignoring it could mean being left behind. We find out what it does and how it could be the key to getting ahead of your competition.

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How can you earn your customers’ digital trust?

Of course you need your customers to trust you. But digital trust as a specific concept is becoming increasingly significant for businesses. Two specialists give their insight into what it is and what you need to do about it – now and in the future

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How do you make AI work for you?

Effective use of artificial intelligence (AI) and machine learning can mean a huge competitive advantage for your business. But a recent survey found that only 10 percent of companies using AI were getting decent returns on their investment. How do you make sure you get the most out of this powerful and fast-developing tech? We have some answers.

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How could extended reality transform your business?

Virtual reality (VR,) augmented reality (AR,) mixed reality, extended reality – there are so many realities, it might feel like you’re losing your grip on all of them. But the actual reality is that these new technologies are transforming businesses of all kinds, and you don’t want to miss out. We unpack the terms, explore some use cases and find out what this could mean for your future.

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insight story metaverse

What metaverse experts think your business should know

  • Digital transformation
  • min read
    • There's much noise about the metaverse, and a feeling business must get on board today. Should you dive in? Two metaverse experts say yes, and no. Kaspersky's new podcast, Insight Story, unpacks emerging tech trends with global specialists and businesses successfully using the tech. Episode 1 looks at the metaverse, with Cortney Harding, World Economic Forum Metaverse Council member and founder of virtual and augmented reality agency Friends with Holograms. James Whatley, Chief Strategy Officer at gaming industry agency Diva, also joins me. James's 2022 talk What Metaverse? garnered much attention from the marketing industry, debating definitions and the effectiveness of brand-sponsored 'metaversal experiences,' as he calls them. A more cynical onlooker could say the metaverse is the emperor's new (virtual) clothes. In its glitchy 2006 version I attended – or tried to attend – in-world conferences in the early metaverse, Second Life. My clever friend sold virtual shirts to passers-by, but the predicted virtual commerce revolution didn't ignite then. I was keen to explore with James and Cortney whether the metaverse is really open for business, or if FOMO (fear of missing out) and the hype cycle is encouraging investment before audiences are ready. From science fiction to (virtual) reality There's no single agreed definition of the metaverse. Metaverses are virtual worlds where users see the world and interact through characters called avatars. Using a virtual reality (VR) headset, interacting in a metaverse can feel like real life. It can mirror many real-world experiences, like shopping, going to concerts, even owning property. Some say it's 'the next iteration of the internet' or 'Web 3.0.' Metaverses like Activeworlds and Second Life have been around for over 20 years. Others exist within online multi-player games like Fortnite and Roblox. Facebook changed its name to Meta in 2021, signaling a future focus on virtual experiences. Should businesses be in the metaverse? Cortney Harding says brands should approach the metaverse from their own perspective. "It depends on your audience. If you're a bank, you probably don't need to build a metaverse world right now – they've tried, and failed." Examples abound of banks establishing an often half-baked presence in the metaverse, then quietly backing away. Cortney continues, "If you're a consumer brand focused on a young tech-savvy audience, you should start thinking about it." But it's not about audience age. "It's more, is your audience tech-savvy? And niche communities are often strong in the metaverse." According to games researcher company Newzoo, more than a quarter of gaming metaverse users are age 36 or older. James Whatley thinks brands should work to understand not just who is in the metaverse, but why. Nike's success in Roblox is often hailed as an example of a brand getting it right. Their Nikeland shop, selling virtual Nike gear, attracted 7 million visitors in its first two months. James notes, "They're doing great, but copying Nike is not a strategy – it's looking and learning from it." Cortney gleans this from Nike's success: "You must resource metaverse worlds correctly to keep them going, making sure people have reasons to return. Nike has social events, and guest speakers – they give people a reason to go there." In developing metaverse experiences, brands should consider what makes the metaverse different. "In early VR, I saw directors do what's in 2D except in a VR headset," says Cortney. "Embodying an avatar with your voice is different than typing or watching a video. How can you harness that? Think beyond replicating and get to the point where it's creating something wholly new." Metaverse for good Cortney works with clients using metaverses and linked technology like VR for the greater good. "I do VR training around racial bias, child welfare, mental health and more. It lets people be in a space they've never been in and experience things like bias or exclusion, in hope they'll better understand what it feels like." PwC research found bias awareness training in VR is highly effective: "75 percent reported a 'wake-up call moment' that helped them identify times in their past when they had not been as inclusive as they'd thought. V-learners were up to 275 percent more confident to act on what they learned after training." Cortney also sees work needed to prevent bias being 'baked in' to the metaverse as it has been with other tech. "Many who built the current internet came from the same background. We want to build a world that's inclusive and safe – one everyone can be part of." Examples of creator bias leading to tech that discriminates include, voice recognition not recognizing women's and people of color's voices because its training data sets mostly contain white men's voices. Soap dispensers, fitness trackers and heart-rate monitors have also been found to rely on users having a light skin tone. It's unsurprising women have higher rates of injury in car accidents when you learn that a truly woman-shaped crash test dummy is a new thing – previous 'female' dummies were simply a smaller male dummy. Cortney appeals to brands to stay aware of how their metaverse presence affects customers. James agrees. "I believe video games are good for building community, and they have done for decades. Whatever the next iteration of the internet, the community piece comes where humanity goes." Alongside many good experiences, research shows more than half of children who play online games experience harms like bullying, hacking and inappropriate contact at some point. Raising your metaverse understanding Cortney says companies dipping a toe into the metaverse shouldn't expect too much at first, but should be in it for the right reasons. "If you look at some websites from the early days of the internet, your eyes will bleed out of your head. We can't expect everyone's metaverse execution will be perfect at this point, but you need more of an idea than just having heard a buzzword." If you choose to go there, James recommends involving metaverse natives. "Bring in the Roblox audience to help build, because they understand it. Get people with gaming experience – they understand narrative and interaction. Make a small investment, start experimenting, have people work on it as a side project. So when things start to really shift, you haven't ignored it." He thinks brands should avoid thinking metaverse is the answer, instead considering all options. "If you want to build a community around your brand, there are other ways. Do stuff in social media. Look at your customer relationship management (CRM.) Don't close the door – be aware of it, but act when it's right for your business." Metaverse cyber risks As new tech arrives, so do new threats. What are the cybersecurity implications of the metaverse? Fabio Assolini is head of research in Latin America for Kaspersky Global Research and Analysis Team (GReAT,) uncovering and understanding cyber threats in digital environments, including metaverses. "We're concerned about the kinds of attacks already common on Meta platforms like Instagram, Facebook and WhatsApp. On new platforms, we expect the same, like fraudsters impersonating brands," says Assolini. "We also expect more complex attacks like SIM swapping, where cybercriminals hijack users' phone numbers to receive authentication tokens." Assolini is also concerned about unclear roles and responsibilities in the metaverse. "If I'm a business and investing in, say, a launch party in the metaverse, is it my responsibility to put encryption and other security in place? Or is it for the end user to be more savvy when they're joining these experiences?" 'Cryptojacking' is another concern in the metaverse. Hacking users' devices to use their processing power for mining cryptocurrency is seriously on the rise, with Kaspersky research showing a 230 percent increase in 2022. While Meta's chief technical officer says moderating user behavior "at any meaningful scale is practically impossible," business will be glad to know metaverse security concepts are roughly the same as any online, digital environment. "Fundamental security practices carry over because the architecture is the same. It still runs on a server, you have databases on the backend, user and password management, and so on," said Nick Donarski, co-founder and chief technology officer at blockchain company ORE System. Best metaverse advice for business I asked James and Cortney their best metaverse advice for business. James says, "Go the extra click. If someone sends you a headline saying this is where the future is, find out where that's come from. Who paid for that data? There's an often-cited report from McKinsey valuing the metaverse at 5 trillion US dollars. When you look at where that figure came from, it doesn't mean anything." Cortney says, "Just start learning and experimenting. It's free or very cheap to sign up to many metaverses. Create a world just for fun. Spend time talking to people. Then you'll understand what you like, what you don't like, what could be better. You'll be more informed – or worst case scenario, have some fun." 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

  • Digital transformation
  • 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.
insight story blockchain

Blockchain’s amazing versatility promises world-changing uses

  • Emerging tech
  • 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.
digital trust

Customers’ trust in tech is changing. What should business do?

  • Data and privacy
  • min read
    • Of course, businesses need customer trust, but understanding what trust means in a digital world is becoming more important. Digital trust is users' confidence that tech, people and processes they engage with are secure and private. Recent research suggests how customers decide where to place their digital trust is changing, so some businesses are changing their approach. As Minter Dial wrote before in Secure Futures, the 2022 Edelman Trust Barometer report shows eroding trust in institutions while remarkably, our trust in business remains. Now, there's an opportunity for business to use integrity, empathy, and privacy and ethics around new tech like artificial intelligence (AI) and customer relationships management (CRM,) to lead the way. Kaspersky's new podcast, Insight Story, unpacks emerging tech trends with global specialists and businesses successfully using new tech. In Episode 4, I discuss what digital trust means and how organizations can grow it with Müge Fazlioglu (US,) Principal Researcher, International Association of Privacy Professionals (IAPP), Malek Ben Salem (US,) emerging tech security expert and Fabio Assolini, Head of Research in Latin America for Kaspersky's Global Research and Analysis Team. Unpacking digital trust Digital trust covers much ground, Malek Ben Salem says. "It's about data integrity, technology, people and processes. It's 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. It's also about how much we trust the information we get as users." Müge Fazlioglu says trust is notoriously hard to pin down. "Our trust when we may or may not share data depends on many things, like our perception of the party we're sharing with, our data's value to them and us. We also weigh the data's sensitivity – what might happen if it were revealed." Trust can make or break a purchase IAPP's March 2023 Privacy and Consumer Trust Report shows privacy concerns influence consumer purchasing decisions. Müge says, "Many people take steps to protect their privacy, like deleting an app or withholding some personal information." So paying more attention to trust could pay dividends. "Organizations gain credibility by taking steps to enhance privacy and data protection. We're now seeing some big brands featuring privacy-related messaging in their advertising and marketing of web browsers and smart home devices," recounts Müge. Trust concerns also make brands hit the headlines for the wrong reasons. Amazon's recent purchase of robot vacuum cleaner brand iRobot triggered privacy objections from consumer and civil rights groups, then an EU investigation. How companies help (and harm) trust Tech research consultancy McKinsey's 2022 Digital Trust report said while 70 percent of people trust companies to protect their privacy, most companies aren't living up to the expectation. So what should companies do? Müge says much best practice is around transparency. "Few consumers have a good grasp of how companies use their information – what they collect, and if they follow good practice. So companies need to ensure they write a simple, clear privacy policy and have an easy-to-use page for people to manage their privacy settings." Regulators also think easy-to-adjust privacy settings matter. The US Federal Trade Commission (FTC) recently fined the company that makes the game Fortnite for its hard-to-use privacy settings. Müge thinks regulators, businesses and consumers can all play a role in improving communication around privacy. "How a company communicates its data practices affects trust – the duty should not be on customers to make daily decisions based on lengthy and complicated legal agreements. Regulators have an important role in raising awareness and providing education. Some, like the FTC and European Union data protection authorities, are starting to do that." Müge also recommends being prepared for how you'll handle a data leak. "Responding slowly means more consumer loyalty lost. Have an incident response plan for the inevitable." Data leaks are common but often have a big impact on business. Kaspersky's 2022 IT Security Economics report found that among 3,230 businesses surveyed, data leaks were the most commonly encountered security issue, with 55 percent considering them the most challenging incidents. Malek points to one business leading in digital trust. "Apple stands out in how it uses privacy-preserving technology to train artificial intelligence (AI) on mobile phones. Devices keep data locally and use it to train user speech-recognition and auto-complete models. Then the models are used to update a central model that can be applied to many users. So the data is not shared or uploaded, but still used to improve the AI." Using cybersecurity to build trust 29 percent of businesses with 500 to 999 employees have experienced a cybersecurity incident, according to Kaspersky's 2022 Small-to-Medium Business Cyber Resilience report.  As your business scales into a larger enterprise, so does the likelihood of a cyberattack or data leak. Malek thinks investing in cybersecurity is vital to protect customer trust. "To build secure infrastructure and allow for secure transactions, you need a cybersecurity strategy and proper governance, and you must hire the right talent. More importantly, be transparent." Or, as Müge says, "Shine a bright light on what you're doing." New technologies are evolving cybersecurity's contribution to digital trust. Malek sees many applications of AI in security tech: "It helps identify who is accessing a system by profiling user behavior. It can detect and respond to security incidents. It can classify unstructured data like business documents, so we don't need people to read them to know what's sensitive or confidential." A relatively new approach to security, zero trust, is influencing what we'll see next. "People will own their full identity and use pieces as needed. For instance, if I want to buy something that requires proof of age, I can share just my age without information the seller doesn't need, like full birth date. Zero-trust principles mean allowing access only to the information needed." But Kaspersky's Fabio Assolini says businesses may not be able to adopt these good practices overnight. "Many networks need adapting for zero-trust principles. It's a challenge for administrators, but it's important they understand how it works and prepare corporate networks for it." He also highlights the value of transparency, not just between businesses and customers, but between businesses and suppliers. "You must be able to trust your cybersecurity providers, especially as we're seeing many targeted attacks that abuse cybersecurity software or infrastructure. Security vendors could be more transparent about their technologies. At Kaspersky, we let customers review our code at transparency centers. We'd like to see other companies doing that." He adds, "Training is also important. Sometimes cybercriminals send a phishing attack to just one employee, so it matters that each employee is trained in identifying attack attempts." Asked for one key recommendation for business in building digital trust, Malek says, consider cybersecurity part of your environmental, social and governance (ESG) framework because "it elevates the discussion." Müge says, "Keep in mind all the smart technology you use. It uses many different kinds of information. Use the privacy features and regularly monitor data sharing." Listen to the full Insight Story audio series on Podbean or your usual podcast provider.
insight story ai machine learning

Customer wins from AI require strategy, not just investment

  • Data and privacy
  • min read
    • There was a time when artificial intelligence (AI) had a menacing ring, but things have moved on. Chat GPT and generative AI apps are creating new roles or making some skills and careers obsolete, depending on who you listen to. Meanwhile, we see its benefits every day, like finding efficiencies and automating repetitive tasks. AI could soon be essential to most businesses. But it's not always clear how to use it. Kaspersky's new podcast, Insight Story unpacks emerging tech trends with global specialists and businesses successfully using the tech. In Episode 5, I speak with AI expert Dr. Romesh Ranawana (Sri Lanka,) customer loyalty consultancy Truth CEO Amanda Cromhout (South Africa) and Fabio Assolini, Head of Research in Latin America for Kaspersky's Global Research and Analysis Team. We examine how business should approach AI and machine learning to make the most of the opportunity while staying secure. Understanding what's meant by AI Romesh says we normally mean something more specific when we talk about AI. "All technology – be it Alexa, your car or washing machine – uses algorithms. An algorithm outputs something when you input something. For problems too big or hard to solve with software, a particular type of AI – machine learning – offers a new way to build algorithms, instead of a programmer writing lines of code." And this kind of AI is everywhere. "We hear much about how it's changing e-commerce and video streaming, but nearly every industry uses AI – from healthcare to retail to factories. Many of the biggest brands, like Amazon and AirBnB, owe their success to it." AI in customer loyalty Customer loyalty programs have long used AI to target customers with more relevant, personalized offers. Amanda's company Truth specializes in these. "Data is fundamental to customer loyalty programs. Everything we know about a consumer – whether the information they give or gained through transactions – has proven power." UK grocery outlet Tesco's Clubcard was one of the first schemes of its kind, with some 20 million members today. Amanda says their approach to data was groundbreaking: "Every quarter, Tesco sent out thank you vouchers with a small discount on your next shop. The vouchers were relevant to what you bought, and no set was the same." "It's a value exchange," says Amanda. Customers give their data because of what they get out of it. "Sometimes companies ask members or customers for data less overtly. Financial institutions may offer a reward to answer a questionnaire, creating a profile of your financial needs and propensity to borrow. They're paying so they can get a higher response rate to sales. If done well, it's win-win." Recent research, Global Data Privacy: What the Consumer Really Thinks 2022, found discounts and freebies were in the top three reasons consumers share data with brands. Amanda also thinks some companies confuse using data well with hard-sell. "They're not thinking through the value proposition. The younger generation especially knows their data's worth. They're asking, 'What am I going to get for that?'" Keys to success with AI Most companies investing in AI aren't getting immediate results. MIT research found only three in 10 companies investing in AI are getting a return on their investment. Who succeeds depends on how they approach it, Romesh says. He thinks why you're doing it matters too – it should be about changing how the company does business, not simply making savings. "If you look at AI as a way to automate what you do now, you'll get reduced costs but not much benefit. You need to mesh AI and people in your organization to generate value, so they're learning from each other." Amanda adds, "Many companies want to flick a switch and, in two hours, make it happen. They don't understand it has to be a strategic driver for the business." Romesh and Amanda both highlight good-quality training data as a critical success factor. Romesh says, "Customers and their behaviors change – what you train today may not be relevant in a week's time. AI systems must be continuously trained on real-time, up-to-date data. Companies need data collected continuously kept in a single space – we call it 'the data lake.'" Amanda also believes the C-suite must support an AI strategy, even lead it. "It doesn't start with marketing executives wanting to do this – it starts at the top, with the CEO and the board." But they shouldn't expect too much, too soon. "The leaders of any company must understand it's an ultramarathon, not a sprint." Romesh notes it's becoming possible for more people to work with AI. "AI systems are still complicated. It takes knowledge, data engineering and software skill. Over the last few years, more tools have come out – low-code or no-code tools – making AI more accessible to more people." How AI is changing cybercrime AI didn't need to be more accessible for cybercriminals to use it, which has implications for business. In research with Kaspersky's Global Research and Analysis Team, Fabio Assolini has seen several applications of AI in cybercrime. "AI is helping cybercriminals bypass new authentication methods. Some financial institutions and banking apps use biometric authentication, where the user must look to the right, to the left and smile. We've seen cybercriminals using AI tools to do this with only a victim's photo." How businesses should respond isn't straightforward – they need to identify more fraudsters while not misidentifying too many customers. "You can fine-tune authentication methods to better identify fraud attempts, but you may get many false positives. It's a balance," says Fabio. Fabio recommends businesses ensure AI training data is ethically gathered and complies with privacy regulation in countries they distribute to. "Some free apps for adding special effects to pictures collect and sell data sets for training AI. There's a privacy issue, especially in Europe with GDPR, but sometimes those collecting the data are in parts of the world without privacy restrictions." To comply with GDPR, AI systems that use personal data must be developed, trained and deployed with a clear objective determined at the design stage. It must be legitimate and compatible with the organization's goals. AI's future in business Amanda stresses the need for brands to understand what their data really means about every human behind it. "Data scientist Dr. Shorful Islam says, at the end of every data point is a human being we're trying to persuade to do something differently, or trying to make their engagement with a brand more pleasurable, or whatever the desired outcome. So you've got to think about behavior more like human beings, rather than robots." Romesh sees AI leading to powerful change in consumer behavior. "We're buying things we'd never have bought before because companies are pushing them to us. Amazon reports 35 percent of its revenue comes from recommendations." And those features will only get cleverer. "Systems will become more powerful because they'll have more data feeding in." Listen to the full Insight Story audio series on Podbean or your usual podcast provider.
insight story extended reality

How virtual and extended reality are transforming business

  • Tech for 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.

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Secure Futures magazine is your go-to business guide for opinions, trends and insight into the world of technology and cybersecurity. We help your business to bring on the future. Brought to you by Kaspersky, the global cybersecurity experts.

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