Digital Guardians - Issue #469 May 23rd, 2024

Jan Leike, a former leader at OpenAI, resigned recently, lamenting that the company prioritized flashy products over safety. Leike, who headed the "Superalignment" team, expressed a longstanding disagreement with OpenAI's core priorities. His departure, alongside a co-founder, highlights ongoing tensions within the AI community regarding the balance between innovation and ethics.

FinTech World Forum 2024 is based in London UK Europe as one of leading fintech events 2023 for global financial services, finance and banking technology industry. Its focuses on Mobile Payments, Lending, Insurance, Blockchain, Bitcoin, Investment, Money, Crypto, Cryptocurrency, Digital, Innovation, Wallet, Pensions, Funds, Payment, Tech, Financial Services, Technology, Bank, Wealth Management, Insurtech, Regtech and Wealthtech. For more info visit: https://fintechconferences.com/

The video "AI in Cybersecurity" offers a thorough exploration of Artificial Intelligence (AI)'s role in safeguarding digital environments. It outlines the necessity of AI in countering various cyber threats like phishing attacks, malware, and DDoS attacks. The video delineates AI's four-step approach in cybersecurity: investigate, identify, report, and research, using a ransomware attack scenario for clarity. It concludes by pondering the reliance on AI alone for cybersecurity, stressing the need for a harmonious blend of AI's prowess and human insight.

We are seeking a Chief Product Officer to oversee all product development for Sustainalytics. This includes our flagship ESG Research products (ESG Risk, Regulatory Solutions, Impact Solutions) as well as Climate Solutions, Stewardship Services and Sustainable Finance.

Reorg is seeking a Director of Product Strategy to drive strategic product development and go-to-market activities for our core data and editorial offerings.

You will partner with your portfolio of enterprise customers to deepen value realization including: supporting existing solutions, identifying new use cases for expansion, and educating customers on industry best practices.

AI integration in web3 security is no passing trend; it's a pivotal weapon against cryptocurrency thefts and cyber intrusions. Companies are leveraging AI algorithms to swiftly detect and thwart potential attacks on DeFi protocols, significantly reducing risks and enhancing response times. This proactive approach not only safeguards investor funds but also solidifies AI's indispensable role in addressing the $4 billion web3 security challenge. Through machine learning, AI algorithms adeptly recognize patterns indicative of cyber threats, offering a sophisticated defense mechanism against malicious actors targeting DeFi platforms.

Skyro, a FinTech licensed by the Securities Exchange Commission (SEC) in the Philippines, has forged a partnership with ADVANCE.AI, a leading provider of digital identity verification and risk management solutions in Southeast Asia. This collaboration aims to advance the provision of straightforward, secure, and customer-centric financial services in the Philippines.

In a recent development, CUBE, a prominent figure in Regulatory Compliance Management (RCM) and Automatic Regulatory Identification (ARI), has acquired the Regulatory Intelligence products and services from Thomson Reuters and Oden. This acquisition significantly expands CUBE's reach, now catering to over 1,000 clients across various sectors such as banking, insurance, asset and investment management, payments, and related regulated industries worldwide. Leveraging Thomson Reuters' renowned regulatory expertise and Oden's resources, CUBE aims to enhance innovation by integrating its AI technology with years of regulatory content and professional analysis. This collaboration promises to deliver unprecedented regulatory transformation capabilities to global clients.

Since the Securities and Exchange Commission (SEC) implemented cybersecurity disclosure regulations in 2023, US public entities must now reveal any significant cybersecurity incidents. This mandate demands thorough comprehension of incident details, including impact, nature, scope, and timing. With the emergence of generative artificial intelligence (GenAI), navigating these complexities becomes even more intricate.

Fintech's rapid expansion, especially in India with record-breaking UPI transactions, highlights the sector's growth and potential. However, this surge underscores the paramount importance of security against cyber threats. With sensitive financial and personal data at stake, robust cybersecurity measures are imperative to safeguard against sophisticated attacks. Fintech firms must prioritize comprehensive security strategies to protect data integrity and maintain trust in the ecosystem, crucial for sustained growth and customer confidence.

The global RegTech (Regulatory Technology) industry, valued at $9 billion in 2022, is projected to reach $66.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 22.6%. This growth is driven by the increasing need for regulatory compliance, advances in technology, and rising data privacy and security concerns. RegTech leverages technologies such as artificial intelligence, automation, data analytics, and blockchain to help businesses achieve regulatory compliance more efficiently and cost-effectively. These tools monitor online transactions in real-time to identify issues and irregularities, enhancing the security of digital payment systems​.