KPMG report shows cybersecurity and privacy expectations increase
As organisations put advanced data and sophisticated analytics at the heart of their operations and reshape customer experiences with innovative digital services, new cybersecurity and privacy challenges emerge, requiring corporate leaders to take digital trust seriously.
Building and maintaining trust is critical in how businesses interact with their stakeholders. KPMG surveyed 1,881 executives for its 2022 Cyber Trust Insights report, which outlined five key steps to building trust through cybersecurity and privacy.
Building internal alliances, evolving the role of the CISO, securing leadership support, and collaborating with other partners in the corporate ecosystem are all critical to increasing trust.
According to more than a third of respondents, trust leads to increased profitability, better customer retention, and stronger commercial relationships. Organisations that recognise the importance of digital trust can also achieve greater innovation, talent retention, and market share growth.
“Each digital initiative an organisation embarks on presents new risks as well as new opportunities. If organisations don’t manage those risks well, the trust that has taken years to build can be destroyed in a nano-second,” says Philip Whitmore, New Zealand cyber security partner at KPMG.
“It is pleasing to see that New Zealand executives acknowledge these risks, and furthermore, that 77 percent of New Zealand executives see cyber security as a strategic function. But we still need to mature our cyber security practices. Too often the immature cyber security practices of New Zealand organisations are undermining all the good things we do.”
Every industry is undergoing digital transformation, with businesses overhauling their technology. More information about the report can be found here.
Shoprite innovates Using AI
In the age of big data, the Shoprite Group is at the forefront of artificial intelligence innovation (AI). As one of the world’s leanest and most advanced retailers, here are three leading innovations that have had a significant impact on the group’s operations as it strives to provide the best customer experience possible.
The group created a machine learning algorithm to dynamically define optimal delivery regions in order to improve Checkers Sixty60’s delivery times even further. The solution superimposes a map with a spatial-temporal view of orders and uses order data to determine the best delivery area for each store.
The algorithm also takes into account packaging and delivery time to determine which areas can be best served by a driver in the time allotted (60 minutes). Furthermore, advanced route optimisation algorithms based on isochrones and open route services are used to overlay geospatial and traffic data with available delivery time to determine the optimal delivery route.
Shoprite collects data and uses artificial intelligence (AI) to improve the customer experience. Shoprite was the first South African supermarket to successfully deploy a powerful end-to-end supply chain software solution to ensure highly accurate orders. Fresh produce such as poultry, cheese, eggs, milk, and other items are included, resulting in fully stocked shelves and less food waste.
When ordering ultra-fresh products, the system considers a variety of external factors using machine learning and artificial intelligence. For example, the team fed two years of sales and stock data into the system, along with several extrinsic factors, to better predict how much chicken customers will buy throughout the year and inform suppliers accordingly. The implementation was an instant success, with significantly higher year-on-year sales growth and significantly lower waste.
“Our approach to development is pragmatic. If somebody has already invented the wheel and we can use it, we’ll do that. If not, Shoprite Technology has the expertise to create the required solution ourselves in order to best serve the business, and most importantly, our customers,” explains Chris Steyn, head of data and analytics at Shoprite.
2022’s most vulnerable IoT Devices
Forescout identifies cameras, VoIP and video conferencing as the riskiest IoT devices.
Forescout’s research team, Vedere Labs, updated their findings on the riskiest devices in enterprise networks in 2022 in a report released on Wednesday. They identified recurring attack vectors and how threat actors are taking advantage of the increased proliferation of devices throughout every enterprise by analysing millions of IoT devices in Forescout's Device Cloud.
Aside from the device types identified as the most vulnerable in 2020, such as networking equipment, VoIP, IP cameras, and PLCs, new entrants such as medical use of hypervisors and human machine interfaces (HMIs) have broadened the attack surface.
Forescout’s research team, Vedere Labs, updated their findings on the riskiest devices in enterprise networks in 2022 in a report released on 12 October 2022. They identified recurring attack vectors and how threat actors are taking advantage of the increased proliferation of devices throughout every enterprise by analysing millions of IoT devices in Forescout’s Device Cloud.
In addition to the device types identified as the most vulnerable in 2020, such as networking equipment, VoIP, IP cameras, and PLCs, new entrants such as medical use of hypervisors and human machine interfaces (HMIs) have broadened the attack surface.
Nigeria is the most popular tech start-up investment destination in Africa
Between 2015 and 2022, Nigerian 383 tech start-ups raised a combined $2 billion (R36 billion).
This is according to the Nigerian Startup Ecosystem Report 2022, published by start-up focused content and research firm Disrupt Africa, which uses Disrupt Africa’s datasets, expertise, and networks to document what start-ups are doing in the country, who is investing, and who is providing ecosystem support.
It is being launched in collaboration with Quona Capital, a venture firm focused on fintech that can increase access for underserved customers and small businesses in emerging markets, Sabi, Africa's leading provider of commercial infrastructure for the distribution of goods and services, and MAX, which is developing Africa’s largest mobility-tech platform. Talking Drum Communications, Newtown Partners, Kwik, and LipaLater are among the other partners.
While the number of Nigerian start-ups raising funding increased steadily during the first few years of tracking, the real surge began in 2020. That year, the number of start-ups that received funding increased from 48 to 85. In 2021, the figure nearly doubled again, reaching 161. By August 2022, 107 Nigerian start-ups had raised funding, putting them on track to surpass last year’s total.
These 107 start-ups also account for nearly a third of the total number of African companies (341) that have received investment this year, a figure that far exceeds that of any other country on the continent.
The total amount of investment secured by Nigerian start-ups has increased dramatically. Nigerian start-ups raised a total of $49,404 when Disrupt Africa records began in 2015. Fast forward to August 2022, and $747 million (R13 billion) has already been secured this year. This figure falls just short of Nigeria’s total annual revenue of $793 million (R14.3 billion) in 2021. As a result, we can expect another notable figure by the end of the year.
The Nigerian Startup Ecosystem Report 2022 is available to all for free, making the data and analysis contained within its pages accessible to those for whom the information is most valuable – entrepreneurs.
Big tech employees are TikToking on the job
Workers in the technology industry have millions of views on vlogs that document their workdays. Creators can amass massive followings, and businesses benefit as well.
A typical day in the life of a TikTok 20-something working in tech might look like this: start the day with free breakfast and a latte. Go out for a multi-hour lunch break right away. Return to the office and explore the open, light-filled space, stopping by the nap room and the Harry Potter-themed meeting room. “Complete your work.” Then leave at 5pm.
Making face masks for “a little self-care moment,” followed by eucalyptus hand towels and kombucha in the office, is part of a LinkedIn employee’s workday. A typical day at Google includes scooter rides, rooftop views, cuddling with a dog, and catching up with coworkers.
These glossy aspirational videos featuring tech employees have received millions of views. However, unclear boundaries around filming at work have resulted in HR warnings and even firings from tech companies that creators claim are unprepared to deal with the influencer/corporate employee. Corporations, on the other hand, essentially get free promotion – they just have to risk their influencers revealing too much or revealing things they don’t want the entire world to see.
What is and isn’t permissible isn’t always clear to either party, and companies are “trying to be as stringent as possible” when developing policies and expectations for influencers, according to Shih.
Some businesses are stricter than others, prohibiting the filming of lobbies, entrances, and security measures such as badges. Others prohibit filming at desks, even if the computer screen is blurred – even revealing hints of what you're working on is prohibited. However, content creators frequently push the boundaries, resulting in conversations with HR, coworkers, or managers. After seeing other creators post similar content, some creators, for example, have shared videos giving tours of offices and workspaces, infuriating security and safety teams.