Latest news with #digitaltrust
Free Malaysia Today
13 hours ago
- Business
- Free Malaysia Today
AI regulatory framework report expected by end-June, says Gobind
Digital minister Gobind Singh Deo said the government's approach to AI would prioritise strong governance and public trust in digital technologies. KUALA LUMPUR : A full report outlining Malaysia's proposed regulatory framework for artificial intelligence (AI) is expected to be completed by the end of June, according to digital minister Gobind Singh Deo. The report, currently being finalised by the National Artificial Intelligence Office (NAIO), established last year under the digital ministry, will form the basis for how the country approaches AI regulation, whether through legislation, new rules or the adoption of common standards. 'Discussions with industry stakeholders are ongoing, and several views have already been presented,' he told reporters at the launch of the cybersecurity Professional Capability Development Programme. 'I hope that by the end of June, we will have a report from NAIO that can help chart an appropriate course for AI governance in Malaysia.' Also present at the event were digital ministry secretary-general Fabian Bigar, CyberSecurity Malaysia CEO Amirudin Abdul Wahab, and Sanjay Bavisi, president of EC-Council, a company involved in cybersecurity consultancy and training. Gobind said the government's approach to AI would prioritise strong governance and public trust in digital technologies. 'Amid this digital transformation, risks will inevitably arise. We must carefully consider how best to ensure public trust in digital platforms,' he said. He added that any regulatory model must take into account the specific risks and characteristics of each sector affected by AI, given the technology's wide-ranging impact on all industries.
Malay Mail
15 hours ago
- Business
- Malay Mail
AI regulatory framework in the works, full report due by end of June, says Gobind
KUALA LUMPUR, June 3 — A full report outlining Malaysia's proposed regulatory framework for artificial intelligence (AI) is expected to be completed by the end of June, according to Digital Minister Gobind Singh Deo. The report, currently being finalised by the National Artificial Intelligence Office (NAIO), established last year under the Digital Ministry, will form the basis for how the country approaches AI regulation, whether through legislation, new rules, or the adoption of common standards. 'Discussions with industry stakeholders are ongoing and several views have already been presented. I hope that by the end of June, we will have a report from NAIO that can help chart an appropriate course for AI governance in Malaysia,' he said. He was speaking to reporters at the launch of the Cybersecurity Professional Capability Development Programme. Also in attendance were the ministry's secretary general Fabian Bigar, CyberSecurity Malaysia chief executive officer Datuk Dr Amirudin Abdul Wahab and EC-Council president Sanjay Bavisi. Gobind said the government's approach to AI would prioritise strong governance and public trust in digital technologies. 'Amid this digital transformation, risks will inevitably arise. We must carefully consider how best to ensure public trust in digital platforms,' he said. He added that any regulatory model must take into account the specific risks and characteristics of each sector affected by AI, given the technology's wide-ranging impact across industries. — Bernama
Khaleej Times
5 days ago
- Business
- Khaleej Times
How the UAE's robust cybersecurity framework is fueling the growth of digital transactions
In today's digital world, the notion of conducting transactions without a robust cybersecurity framework is not only unthinkable, but also unsustainable. Whether it's purchasing goods online, using a mobile wallet, or managing finances through a mobile app, the need for digital trust is paramount. Just as physical vaults and bank branches were once safeguarded by security personnel to protect tangible assets, cybersecurity now serves as the digital sentinel of our financial ecosystem. It is the modern equivalent of that trusted guard, instilling confidence, ensuring safety, and enabling the seamless movement of money in an increasingly digital economy. The UAE stands as a powerful example of how positioning cybersecurity as a strategic enabler rather than merely a reactive safeguard can enhance national competitiveness and accelerate economic transformation. As the country steadily advances toward a cashless, digitally interconnected economy, the subject matter has emerged not just as a shield, but as a cornerstone of innovation, trust, and organic growth. The foundation of this progress indeed lies in a cohesive, forward-looking cyber strategy that aligns public governance with diverse initiatives of the private sector. In doing so, the UAE has elevated digital resilience into a national economic asset, fueling confidence in digital financial systems, safeguarding critical infrastructure, and inspiring global trust in its digital services ecosystem. This secure environment has also been instrumental in accelerating the adoption of mobile money solutions, digital wallets, instant money transfer apps, online bill payment platforms, and a lot more, driving the broader shift toward digital transactions that are now increasingly integral to our everyday life. A visionary approach to national cyber governance At the center of the UAE's cybersecurity model is a clear vision that reflects both ambition and accountability. The establishment of the UAE Cybersecurity Council marked a strategic inflection point, elevating cybersecurity oversight from a defensive function to a proactive, integrated pillar of the national strategy. Operating in close coordination with the Telecommunications and Digital Government Regulatory Authority (TDRA), the Council has overseen the development and execution of the National Cybersecurity Strategy. Grounded in three core pillars — enhancing digital trust, protecting national infrastructure, and maintaining operational readiness, this strategy ensures that cybersecurity is embedded across various industry sectors operating within the country. Such an integrated model does more than just protect systems; it establishes a secure foundation upon which ingenuity can thrive. Hence, it goes without saying that this foundation has enabled the rapid and secure expansion of digital services, especially in the financial sector. Also, according to the 2024 Global Cybersecurity Index (GCI) released by the International Telecommunication Union (ITU), the UAE attained a perfect score of 100 per cent, successfully fulfilling all 80 evaluation criteria. This remarkable achievement positions the nation within the highest global tier, credited as a 'Pioneering Model'. Financial systems secured by design The Central Bank of the UAE has been instrumental in positioning cybersecurity as a fundamental requirement for digital financial transactions and a mandatory standard for service providers. From stringent information security regulations for Licensed Financial Institutions to the ambitious Financial Infrastructure Transformation (FIT) Programme, regulatory foresight is undoubtedly matched by operational clarity. The FIT Programme envisions a real-time, interoperable financial ecosystem that accommodates everything from digital wallets to embedded finance. However, this future is not made possible by technology alone, rather it is underpinned by a robust cybersecurity infrastructure that instills confidence in consumers, regulators, and innovators alike. For platforms like Whizmo, operating in mobile money, digital payments, or app-based financial services, this clarity empowers responsible scaling, ensuring their growth aligns with national priorities on security, flexibility, and consumer trust. The growing adoption of app-based technologies for utility payments and peer-to-peer transfers is further transforming user convenience, driven by secure APIs and tokenised authentication protocols that ensure robust security without compromise. Building cyber awareness as a national competency Understanding that security is as much about people as it is about systems, the UAE has embedded cyber awareness into the broader social and economic agenda. Government initiatives like 'Cyber Pulse', which educate citizens, businesses, and public servants on digital hygiene and risk mitigation, demonstrate a forward-thinking approach that recognizes a strong digital economy depends on a cyber-aware society. In today's hyperconnected environment, every individual represents both a potential entry point and a vital line of defense. By fostering a culture of shared responsibility, the UAE empowers its citizens & residents, beginning in the early stages of education, to actively contribute to the protection of the national digital infrastructure. The UAE Ministry of Education has integrated 'digital safety' into the national school curriculum, emphasizing responsible online behavior, data protection, and cybersecurity awareness, right from the formative years. On the other hand, fintech companies are actively investing to champion digital and financial literacy, not just to ensure compliance, but also to enhance organizational effectiveness. Equipping both employees and consumers with strong digital skills boosts productivity and facilitates swift adaptation to technological changes. A classic example is the growing ubiquity of smart QR-based merchant payments which demand not only technical reliability but also user awareness of secure digital practices. Preparing for an evolving threat landscape What differentiates the UAE's cybersecurity model is its future-ready orientation. Cybersecurity is not treated as an afterthought or a periodic upgrade, it is baked into the DNA of the nation's digital transformation. Whether in the development of government service automation, national digital identity initiatives, or the scaling of smart infrastructure, security is not an accessory, it is an architectural principle. This vision extends to human capital as well. The UAE is also proactively nurturing the next generation of cybersecurity professionals through talent development programs, public-private partnerships, and targeted upskilling efforts. The country's commitment to cybersecurity is also translating into measurable economic opportunities. The UAE's cybersecurity market is projected to grow at a compound annual growth rate of 8.50% between 2024 and 2029, reaching a market valuation of USD 772.30 million by 2029. This growth signals more than just increased spending and reflects the rising strategic importance of cybersecurity as both a public good and a commercial imperative. The Whizmo app provides both individuals and businesses with a comprehensive suite of digital financial services, including contactless QR code-based payments, instant money transfers, and bill payments across the globe, all supported by a future-ready cybersecurity framework that ensures innovation is consistently balanced with resilience. Trust: The ultimate currency in a digital economy Trust remains the defining currency of the digital age and in the UAE, cybersecurity is the bedrock upon which that trust is built. For fintech innovators, digital platforms, and forward-thinking enterprises, this translates into an environment where innovation is not stifled by risk, rather it is accelerated by strength. As we continue to evolve in an increasingly digital-first global economy, the UAE's cybersecurity posture will remain one of its most decisive competitive advantages. It enables not only protection from dangers, but also the confidence to scale, the capacity to ideate, and the stability to lead. Having said that, cybersecurity is no longer merely a line of defence, it is a national growth engine.
Globe and Mail
27-05-2025
- Business
- Globe and Mail
Google's Quantum Breakthrough Could Break Encryption—Q-Day Is No Longer Sci-Fi
Google (GOOG) (GOOGL) just dropped a quantum bombshell. A new study from Google Quantum AI reveals that RSA-2048 encryption—a cornerstone of online security used by banks, email services, and government systems—could be broken in under a week using fewer than one million noisy qubits. That's a 95% reduction from previous estimates that called for 20 million qubits. Confident Investing Starts Here: No current quantum computer can pull this off yet, but the bar is now significantly lower. The system would require five days of nonstop quantum operation, ultra-fast surface code cycles, and near-perfect gate fidelity—technical challenges, yes, but ones that hardware roadmaps aim to solve by the early 2030s. In an earlier piece, we described Q-Day, the moment quantum computers can break today's encryption, as a looming threat, a digital Armageddon where banks get hacked, financial markets melt down, and encrypted records turn into open books overnight. That may have felt like sci-fi before. But Google's findings turn Q-Day from a 'Matrix-style' hypothetical into a 'Mission: Countdown' with a clear blueprint. Why It Matters for Investors This isn't just a cryptography update. It's a market-moving event in slow motion. If RSA encryption falls, it doesn't just affect spy agencies or gamers in basements. It strikes the core of digital trust. That means brokerages, fintech apps, banks, and trading platforms would face an existential crisis unless they transition to post-quantum cryptography (PQC) before quantum hardware catches up. Even though Q-Day isn't here yet, adversaries are already harvesting encrypted data to decrypt later. ' Harvest now, decrypt later ' isn't a conspiracy theory; it's a policy concern raised by both the U.S. and China. Who Gains from Post-Quantum Security? The biggest winners in this new landscape are cybersecurity firms specializing in quantum-resistant protocols and zero-trust architecture. Companies like CrowdStrike (CRWD), Palo Alto Networks (PANW), and Fortinet (FTNT) are likely to see a surge in demand as governments and corporations race to fortify their infrastructure. Meanwhile, quantum hardware players such as IBM (IBM), Quantinuum, and PsiQuantum just saw the target move from science fiction to an engineering problem. They now have a shot at real commercial traction if they can deliver million-qubit machines by the next decade. Financial institutions with foresight—names like JPMorgan (JPM) that have already dipped into quantum readiness—could be early stabilizers when panic sets in elsewhere. Preparing won't just be about defense—it'll be a brand advantage. Bear in mind, there will be losers too. Legacy tech firms stuck on outdated cryptographic standards could face lawsuits, customer flight, and even regulatory penalties. Cryptocurrencies are another big vulnerability. Many coins rely on traditional public-key encryption, and unless their foundations are upgraded, they could become worthless overnight in a post-Q-Day world. Also, governments or businesses that drag their feet past 2030 will risk learning the hard way that quantum speed waits for no one. The Comparison tool below highlights all the companies mentioned in this article, with one standout detail: both PANW and FTNT boast a perfect TipRanks Smart Score, underscoring the strong fundamentals behind these leading cybersecurity players. The Clock Is Ticking According to NIST (National Institute of Standards and Technology), all vulnerable cryptographic systems should be deprecated after 2030 and disallowed after 2035. Not because quantum computers will definitely arrive by then, but because it's reckless to bet on slow progress. Google's study gives the world a wake-up call and hardware makers a specific goal. Meanwhile, investors should ask: Who's preparing—and who's pretending? As Tony Stark once said, 'You're not the guy to make the sacrifice play… but quantum computing might be.' Maybe he didn't say that exactly, but the point stands. The race is on, and encryption is the battlefield. TipRanks takeaway: Now's the time to check which companies are quantum-safe and which are living on borrowed time.
Yahoo
26-05-2025
- Business
- Yahoo
Lleida.net increased its active customer base by more than twenty-five percent in the year's first quarter.
Madrid, May 26.- Spanish technology company (BME: LLN) (EPA:ALLLN) (OTCQX:LLEIF) increased its active client base by more than 25% in the first quarter of the year. As of March 31, 2025, the company had 6,053 active clients, compared to 4,725 on the same date last year. "This increase represents the largest growth in clients since 2020, demonstrating that digital trust services, which were barely novel five years ago, have now become a fundamental part of the economy," explained Sisco Sapena, the company's CEO. Most of customers come from outside Spain, and the company now records 51.96% international revenue, compared to 48.05% from clients based within Spain. The company considers active clients which have been invoiced at least once in the past 24 months. According to information sent today to BME Growth and Euronext Growth, the average ticket of the company's main clients has increased from around twenty-five thousand two hundred euros per quarter to slightly above twenty-nine thousand six hundred euros in the year's first quarter. The company has observed that its largest customer segment consists of those who use its trust services above five thousand euros quarterly. "Our clients have grown thanks to us. We've already observed an interesting evolution showing that our largest clients are the ones who use our services, such as certified electronic signature and notification, most recurrently," Sapena explained. The company recently presented the best quarterly results in its history, resulting from the effective execution of its recovery plan. The company holds more than 350 international patents in over 64 countries and has been listed on various international stock exchanges for ten years. SAFE HARBOR STATEMENT This press release contains statements regarding the future of the company and its innovations. Statements regarding the future may be accompanied by words such as "anticipate", "believe", "estimate", "wait", "anticipate", "pretend", "power", "plan", "potential", the use of future time and other terms of similar meaning. No undue reliance should be placed on these claims. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including uncertainty of the company's commercial success, ability to protect our intellectual property rights, and other risks. These statements are based on current beliefs and forecasts and refer only to the date of this press release. The company assumes no obligation to publicly update its forward-looking statements, regardless of whether new information, future events or any other circumstance arise.
