Sector Snapshot; AI Technology Applications for Security: (NASDAQ: FTNT) (CSE: VSBY) (TSX: ABT.TO) (TSXV: AT.V)
Point Roberts, WA and Delta, BC - March 15, 2019 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering Artificial Intelligence issues a special sector snapshot looking at the intersection of AI and Security.
As security threats grow, AI technology is increasingly leveraged to detect and prevent risks that human observers may miss. Research from Markets and Markets, for instance, projects a growth in AI in the cybersecurity market from $3.92 billion USD in 2017, to $34.81 billion by 2025 at a compound annual growth rate (CAGR) of 31.38 percent.
Fortinet, Inc. (NasdaqGS:FTNT), which provides automated and integrated cyber solutions worldwide utilizes artificial intelligence and machine learning in their FortiGuard Labs proprietary Self-Evolving Detection System (SEDS). A description on their website reads:
"Our artificial intelligence and machine learning program integrates into Fortinet's threat intelligence back end to power all the threat detection capabilities that FortiGuard services share across the Fortinet Security Fabric. This integration across Fortinet products, combined with our use of automation and innovation, helps our customers fight the increasingly aggressive and damaging nature of cyber crime."
Fortinet released its Global Threat Landscape Report for Q4 of 2018, detailing the need for further AI adoption in assisting against cyber attacks.
"Just as cybercriminals employ machines to propagate botnet attacks, organizations also need to leverage technology advances in the area of AI/ML to combat new, machine-generated attacks."
The confluence of AI with security takes a different form with VSBLTY Groupe Technologies Corp. (CSE:VSBY), a company that transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning to "see" persons of interest head on, and understand their sentiment as they look at digital signage.
Recently, VSBLTY named two former FBI special agents, Jeff Muller and Jim DiOrio to its advisory board. Jay Hutton, Co-Founder & CEO of VSBLTY, said the two had "long experience in strategic risk assessment consulting for government agencies and companies" and that their addition to the board will "strengthen our security expertise."
Other companies are getting serious about security threats through acquisitions. Blackberry, for example, recently acquired AI and cybersecurity company Cylance for $1.4 billion. John Chen, Blackberry's executive chairman and CEO, commented on the importance of the development:
"Securing endpoints and the data that flows between them is absolutely critical in today's hyperconnected world. By adding Cylance's technology to our arsenal of cybersecurity solutions, we will help enterprises intelligently connect, protect and build secure endpoints that users can trust."
Elsewhere, telecom giant Comcast made a similar move in acquiring BluVector Inc., a cybersecurity startup that "uses artificial intelligence and machine learning to contain threats such as malware, ransomware and zero-day vulnerabilities."
Absolute (TSX:ABT), a company that develops, markets and supports endpoint management and data security solutions for endpoint computing devices, appointed security expert Dr. Nicko van Someren as its new CTO. Van Someren, who has more than two decades of security background, explained the growth of security threats, and his company's response:
"Security has evolved enormously over the past 20 years, with the rise of nation-state threats, digital transformation of the enterprise and increasing severity of data breaches. Absolute is fighting to ensure organizations' endpoints remain resilient despite these ever-present security risks."
AcuityAds Holdings Inc., (TSXV:AT) which leverages its proprietary artificial intelligence technology to provide targeted digital media solutions, revealed its commitment to protection and security in a blog post late last year:
"…we pride ourselves on delivering multiple lines of defence with regards to brand safety, fraud prevention and age-gating/LDA compliancy to deliver proactive protection and risk mitigation."
The company's "in-house brand safety" includes defensive layers from threat detection companies FraudLogix and Peer39 by Sizmek.
So while security threats advance and amass, whether traditional or cyber, increasingly sophisticated detection and prevention techniques are being employed using artificial intelligence technology in a variety of ways to mitigate risks.
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