Data breach cost for Indian organisations up 39% since 2020: IBM report

Data breach cost for Indian organisations up 39% since 2020: IBM report


The average cost of a data breach in India this year reached Rs 19.5 crore, an all-time high. Image: Shutterstock


The average cost of a data breach in India this year reached Rs 19.5 crore, an all-time high. Costs for organisations have increased 39 per cent since 2020 as breaches become more disruptive, said a report by IBM on Wednesday.


Average cost has increased 9 per cent since 2023 and breaches are expanding demands on cybersecurity teams. As many as 70 per cent of organisations globally said data breaches caused “significant” or “very significant”, according to the technology company’s annual ‘Cost of a Data Breach’ report


“As cyberattacks gain pace and complexity, their impact on organisations becomes multidimensional, affecting reputational, financial and operational aspects. Considering that India is getting ready for the rollout of the DPDP Act 2023, businesses also need to assess the regulatory implications of such attacks and ensure end-to-end compliance. Prioritising data security and safeguarding critical assets to help ensure that only the right people have access to organizational resources is essential,” said Viswanath Ramaswamy, vice-president, technology, IBM India & South Asia, referring to the Digital Personal Data Protection Act, 2023.


“Lost business and notification costs drove the year-over-year cost spike in India, as the collateral damage from data breaches has only intensified,” said the report. Business loss in the country in terms of operational downtime, customers, reputation damage and other factors increased 45 per cent from 2023. Notification costs jumped 19 per cent.


A 7 per cent rise in detection and  escalation costs “represents the highest portion of breach costs” in India.


Phishing and stolen or compromised credentials were the most common cyberattacks in India, accounting for 18 per cent of incidents. They were followed by Cloud misconfiguration (12 per cent). Compromised business email was the costliest for organisations, costing an average total cost of Rs 21.5 crore per breach. Social engineering (Rs 21.3 crore) — the act of tricking people into giving up sensitive information — and phishing (Rs 20.9 crore) were the second and third costliest breaches.


As many as 34 per cent of breaches in India involved data stored on public Cloud and 29 per cent across multiple environments (including public and private Cloud). Breached data stored on public Cloud represented the highest costs (Rs 22.7 crore), while incidents spanning multiple environments took the longest to identify and contain (327 days).


The Indian industrial sector suffered the highest impact of data breaches, with average cost reaching Rs 25.5 crore. It was followed by the technology industry at Rs 24.3 crore and the pharmaceutical sector at Rs 22.1 crore. Globally, critical infrastructure sectors such as health care, financial services, industrial, technology, and energy organisations incurred the highest breach costs among industries.


Indian organisations which took less than 200 days to identify and contain a data breach incurred an average cost of Rs 18.4 crore. Organisations where a data breach “lifecycle” extended beyond 200 days incurred an average cost of Rs 20.5 crore, according to the report.


AI, automation


Security artificial intelligence (AI) and automation played a “significant role” in accelerating organisations’ ability to identify and contain breaches. Indian companies that extensively used the two technologies shortened the data breach lifecycle by 112 days and incurred an average Rs 13 crore less in breach costs.


The report said 28 per cent of organisations in India have “extensively deployed” security AI and automation, compared to 20 per cent in 2023. However, there remains significant potential for growth in India, as currently 72 per cent of studied organizations have limited (35 per cent) or no use (37 per cent) of security AI and automation.


The ‘2024 Cost of a Data Breach Report’ is based on an analysis of real-world data breaches at 604 organisations globally between March 2023 and February 2024. The research, conducted by Ponemon Institute and sponsored and analysed by IBM, has been published for 19 consecutive years and has studied the breaches at more than 6,000 organisations.

First Published: Jul 31 2024 | 1:43 PM IST



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Google introduces Apple-like cross-device sharing in Android: Report

Google introduces Apple-like cross-device sharing in Android: Report



Google’s latest Android update is reportedly rolling out cross-device sharing features to simplify transfer of calls and sharing of the internet between devices. First announced at the Google I/O 2024 developer conference in May, the cross-device sharing is currently limited to call casting and internet sharing. The cross-device sharing feature is similar to the one available on Apple’s ecosystem platforms.


Cross-device features will be reportedly available via an update and users can see a cross-device option in the device settings. The feature is available on Android devices running versions 24.28.34 on the Google Play services. The new feature is currently in beta and only supports devices running on Android 11 or newer operating systems. It is expected to roll out widely soon.


How to use


Go to device “Settings” and tap on “Google”


Select “Device and sharing” option


Then select the cross-device services option that will be visible


Available features will be shown


Users can also create a device group by enabling the options on devices linked to the same Google account.


Call casting


This feature enables users to transfer voice or video calls from one Android device to another. Necessary requirement for this to work is that both devices should be signed into the same Google account. The feature is rolling out in limited capacity currently.


Internet sharing


Users can share the phone’s internet with other devices linked to the same Google account using this feature. The feature works with Chromebooks and other Android devices signed into the user’s Google account. Prerequisites include an enabled Bluetooth and device location.

First Published: Jul 31 2024 | 1:21 PM IST



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OpenAI rolls out advanced voice mode in ChatGPT for Plus users: What is it

OpenAI rolls out advanced voice mode in ChatGPT for Plus users: What is it


ChatGPT’s advanced voice mode

Advanced voice mode is starting to roll out to a small group of ChatGPT Plus users, announced Microsoft-backed artificial intelligence startup OpenAI in a post on X. Announced in May, the feature was originally slated for release in June this year but got delayed because it needed time to reach its launch standard. Here is all you need to know about OpenAI’s advanced voice mode for ChatGPT:


ChatGPT advanced voice mode: What is it


In September 2023, OpenAI announced support for voice and image capabilities in ChatGPT. The announcement was followed by a new multimodal language model in May this year, dubbed GPT-4o, that it said will enable advanced voice mode in ChatGPT.


Explaining advanced capabilities in voice mode, OpenAI said that ChatGPT will “offer more natural, real-time conversations, allows you to interrupt anytime, and senses and responds to your emotions.”


In the current version, voice mode to talk to ChatGPT works with latencies of 2.8 seconds (GPT-3.5) and 5.4 seconds (GPT-4) on average. This latency is the result of a data processing pipeline of three separate models: one simple model transcribes audio to text, GPT-3.5 or GPT-4 takes in text and outputs text, and a third simple model converts that text back to audio. According to OpenAI, this process results in loss of lots of information to the main source of intelligence, GPT-4.


With the GPT-4o model, which the company said is trained end-to-end across text, vision, and audio, all inputs and outputs are processed by the same neural network. This lowers down the latency for natural conversational experience and improves results since all the information is processed over the same neural network. Additionally, OpenAI said that GPT-4o is more capable of handling interruptions, manages group conversations effectively, filters out background noise, and adapts to tone.


Essentially, the advanced voice mode enables conversational artificial intelligence in ChatGPT.


ChatGPT advanced voice mode: Availability


The advanced voice mode capability is currently being tested with a small batch of ChatGPT Plus users. OpenAI said the users selected in this alpha will receive an email with instructions and a message in their mobile app. OpenAI plans to add more people on a rolling basis and plan for everyone on Plus to have access in the fall.


OpenAI said that learning from this alpha will help it make the advanced voice experience safer and more enjoyable for everyone. The startup plans to share a detailed report on GPT-4o’s capabilities, limitations, and safety evaluations in early August.

First Published: Jul 31 2024 | 12:28 PM IST



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Nothing Phone 2a Plus launch at 2:30 pm: Where to watch and what to expect

Nothing Phone 2a Plus launch at 2:30 pm: Where to watch and what to expect



Nothing is set to launch the Phone 2a Plus on July 31. The British consumer technology brand has posted an image of the smartphone on X, previewing the rear design, ahead of the launch. Moreover, the brand has confirmed the processor and camera configuration of the smartphone. Starting with design, the smartphone previewed by Nothing shows LED lighting, called Glyph interface, on the top half section similar to the previous smartphones it launched in the market. As for the cameras, the brand has confirmed a 50-megapixel camera sensor on the front and a dual 50MP camera set-up on the rear. That said, here is all you need to know about the Nothing Phone 2a Plus:


Nothing Phone 2a Plus: Where to watch


The Phone 2a Plus is set to go official at 2:30 pm (IST) on July 31. The launch will live stream online at the company’s official YouTube channel.


Nothing Phone 2a Plus: What to expect


Nothing has confirmed that the Phone 2a Plus will be powered by MediaTek Dimesity 7350 Pro, which could be a custom-tuned version based on the Dimensity 7200 Pro that powers the Phone 2a. The smartphone is expected to come in up to 12GB RAM, with support for virtual RAM extension (up to 8GB) through RAM Booster technology.


Nothing has said that the Dimensity 7350 Pro chip is based on Taiwanese Semiconductor Manufacturing Company’s (TSMC) 4nm Gen 2 process and will offer 10 per cent faster CPU performance than the Phone 2a. The Phone 2a Plus is anticipated to offer upgraded performance in terms of gaming.


Nothing had also confirmed an upgraded 50MP front camera in addition to 50MP rear sensors for Phone 2a Plus, which is an upgrade over the 32MP shooter on the Phone 2a. Taking more about the improvements in the device, Nothing has said that the Phone 2a Plus will get 4K resolution video recording option across the front and rear camera systems in addition to HDR images and HDR+ playback.


The Phone 2a Plus is expected to sport the same 6.7-inch 1080p AMOLED screen and a 5,000mAh battery as the non-Plus model. According to SmartPrix, the smartphone will support 50W wired charging, compared to 45W charging supported by Phone 2a.


Nothing Phone 2a Plus: Expected specifications


Display: 6.7-inch fullHD+ AMOLED, 120Hz


Processor: MediaTek Dimensity 7350 Pro


RAM: 8GB and 12GB


Storage: 256GB


Rear camera: 50MP (OIS) + 50MP ultra-wide


Front camera: 50MP


Battery: 5,000mAh


Charging: 50W wired


OS: Android 14

First Published: Jul 31 2024 | 11:37 AM IST



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Microsoft's slow cloud growth signals AI payoff likely to take longer

Microsoft's slow cloud growth signals AI payoff likely to take longer


While overall Azure growth slowed, AI services accounted for a larger portion of the increase in revenue in the June quarter at 8 percentage points, compared with 7 percentage points in the previous quarter | (Photo: Reuters)


Microsoft said it would spend more money this fiscal year to build out AI infrastructure even as growth slowed in its cloud business, another sign the payoff from hefty investments in the technology may take longer than Wall Street had hoped.

 


Shares fell 7 per cent on the spending forecast but pared losses to trade down 4 per cent after the bell on Tuesday after Microsoft said on a post-earnings call that Azure cloud growth would accelerate in the second half of fiscal 2025.

 

Big technology companies have been pouring billions of dollars into data centers to capitalise on the generative AI boom.

Google-parent Alphabet warned last week that its capital spending would stay elevated for the rest of the year.

 


Microsoft said its capital spending rose 77.6 per cent to $19 billion in its fiscal fourth quarter that ends June 30, with cloud and AI-related spending accounting for nearly all of the expenditures. For all of fiscal 2024, capital spending totaled $55.7 billion.

 


Group CFO Amy Hood said the spending was necessary to support demand for AI services and the company was investing in assets that “will be monetized over 15 years and beyond.” Still, investors who have run up Microsoft stock by nearly a quarter in the past 12 months on AI optimism were disappointed with the Azure growth.

 


Microsoft predicted that the business would grow 28 per cent to 29 per cent on a constant currency basis in the July-September quarter, compared with estimates of 29.7 per cent, according to Visible Alpha.

 


That followed a 29 per cent rise in the quarter ended June 30, which was below estimates of 30.6 per cent and marked a slowdown from the previous three months.

 


“The street doesn’t have a lot of patience. They see you spending billions of dollars and they want to see a pickup in revenue of that amount,” said Daniel Morgan, senior portfolio manager at Synovus Trust, which holds shares in Microsoft.

 


“If these companies do not hit it out of the ballpark and are far better than the estimates then they are going to be knocked back,” he added.

 


While overall Azure growth slowed, AI services accounted for a larger portion of the increase in revenue in the June quarter at 8 percentage points, compared with 7 percentage points in the previous quarter.

 


The company does not break out the absolute revenue figure for Azure, the part of its business best situated to capitalize on booming interest in AI.

 


CEO Satya Nadella said that Azure AI was now used by more than 60,000 customers, up nearly 60 per cent year-on-year and that the average spend per customer continues to grow.

 


Nadella has pushed the company to go all-in on the technology, weaving AI into almost every product from search engine Bing to productivity software such as Word.

 


Large parts of those efforts have been fueled by technology from OpenAI, in which Microsoft has invested about $13 billion, including the 365 Copilot assistant for enterprises.

 


The productivity business – home to the Office suite of apps, LinkedIn and 365 Copilot – posted growth of 11 per cent, compared with expectations of 10 per cent.

 


Revenue from its Intelligent Cloud unit – home to the Azure cloud-computing platform – rose 19 per cent to $28.5 billion in the fourth quarter, missing analysts’ estimates of $28.68 billion, LSEG data showed.

 


Microsoft – seen as a bellwether for the tech industry thanks to its wide-spanning business – said total revenue rose 15 per cent to $64.7 billion in the fourth quarter. Analysts had expected $64.39 billion, according to LSEG data.

 


Revenue from its personal computing business, which includes Windows and devices such as the Xbox and Surface computers, grew 14 per cent as Microsoft benefited from stabilizing personal computer sales. The PC market grew for the second straight quarter in the April-June period, according to research firm IDC.

 


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Jul 31 2024 | 10:13 AM IST



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Google autocomplete results of Trump assassination bid stems questions

Google autocomplete results of Trump assassination bid stems questions


CLAIM: Google is engaging in election interference by censoring autocomplete results about former President Donald Trump (Photo: Reuters)


With fewer than 100 days until the 2024 election, social media users are claiming that a lack of Google autocomplete results about former President Donald Trump and his attempted assassination is evidence of election interference.


Many posts include screenshots showing what the autocomplete feature, which predicts what users are trying to type, has generated for text such as attempted assassination of tr or president donald.


Among the pictured results for the former phrase are references to other assassination attempts, including that of Harry Truman and Gerald Ford, but nothing for Trump. The latter provides two options president donald duck and president donald regan.


Multiple high-profile figures, including Trump and sitting members of Congress, promoted the claim across social media platforms, collectively amassing more than 1 million likes and shares by Tuesday. Trump did not immediately respond to a request for comment.


Google attributed the situation to existing protections against autocomplete predictions associated with political violence, noting that no manual action was taken to suppress information about Trump.


Search engine experts said there are many reasons that could explain why some autocomplete results concerning the former president were not appearing.


Here’s a closer look at the facts.


CLAIM: Google is engaging in election interference by censoring autocomplete results about former President Donald Trump, including the assassination attempt at his Pennsylvania rally on July 13.


THE FACTS: It is true that Google’s autocomplete feature as of Monday was not finishing certain phrases related to Trump and the assassination attempt as shown in screenshots spreading online, but there is no evidence it was related to election interference.


By Tuesday, some of the same terms were providing relevant autocomplete results. The text president donald now also suggests Donald Trump as a search option. Similarly, the phrase attempted assassination of includes Trump’s name in autocomplete predictions. Adding tr to the same phrase though makes the option disappear.


Completed searches about Trump and the assassination attempt done on both Monday and Tuesday yielded extensive relevant results regardless of what autocomplete predictions came up.


Google told the AP that its autocomplete feature has automated protections regarding violent topics, including for searches about theoretical assassination attempts. The company further explained that its systems were out of date even prior to July 13, meaning that the protections already in place couldn’t take into account that an actual assassination attempt had occurred.


Additional autocomplete results now appearing about Trump are the result of systemic improvements rather than targeted manual fixes that will affect many other topics, according to the company.


We’re rolling out improvements to our Autocomplete systems to show more up-to-date predictions, Google told The Associated Press in a statement.


The issues are beginning to resolve, and we’ll continue to make improvements as needed. As always, predictions change over time and there may be some imperfections. Autocomplete helps save people time, but they can always search for whatever they want, and we will continue to connect them with helpful information.


Search engine experts told the AP that they don’t see evidence of suspicious activities on Google’s part and that there are plenty of other reasons to explain why there have been a lack of autocomplete predictions about Trump.


It’s very plausible that there’s nothing nefarious here, that it’s other systems that are set up for neutral or good purposes that are causing these query suggestions to not show up, said Michael Ekstrand, an assistant professor at Drexel University who studies AI-powered information access systems. I don’t have a reason not to believe Google’s claim that this is just normal systems for other purposes, particularly around political violence.


Thorsten Joachims, a professor at Cornell University who researches machine learning for search engines, explained that autocomplete tools typically work by looking at queries people make frequently over a certain period of time, providing the most frequent completions of those queries. Beyond that, a search engine may automatically prune predictions based on concerns such as safety and privacy.


This means that it’s plausible that Google’s autocomplete feature wouldn’t have accounted for recent searches about the assassination attempt on Trump, especially if its systems indeed had not been updated since before the shooting.


“Depending on how big the window is that they’re averaging over, that may simply not be a frequent query, Joachims said. And it may not be a candidate for autocompletion. He added that it’s typical not to update a search model on a daily basis, given the costs and technical risks involved.


A 2020 Google blog post about its autocomplete feature describes how the system reflects previous searches and why users might not see certain predictions, including those that are violent in nature. The post also explains that predictions may vary based on variables such as a user’s location, the language they speak or rising interest in a topic.


Both Ekstrand and Joachims agreed that proving bias in a complex system like Google’s search engine from the outside would be extremely difficult. It would require much more data than just a couple of searches, for example, and would risk setting off the company’s protections against data scraping, reverse engineering and fraud.


In general, claims that platforms are taking particular targeted actions against specific people on political bases are hard to substantiate, Ekstrand said. They sometimes, I’m sure, happen, but there’s so many other explanations that it’s difficult to substantiate such claims.


Joachims noted that the demographics of Google’s user base could impact the results of such a study if they skewed toward one side of the political aisle or another and therefore searched more for their preferred candidates. In other words, the way the system works would make it difficult to probe the system.


Technical issues aside, limiting autocomplete predictions as a method of political influence could simply be bad for business.


Even if Google would like to do that, I think it would be a very bad decision because they could lose a lot of users, said Ricardo Baeza-Yates, a professor at Northeastern University whose research includes web search and information retrieval.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Jul 31 2024 | 8:55 AM IST



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