What is the difference between reporting and Business Intelligence
Threat actors leverage cybersecurity gaps from M&A – new report Threat actors leverage cybersecurity gaps from M&A – new report | Insurance Business America Insurance News Threat actors leverage cybersecurity gaps from M&A – new report Reliance on software vendors brings new vulnerabilities Insurance News By Grant Funtila Threat actors have evolved their tactics in 2024 to exploit business and technology consolidation. According to Resilience’s mid-year 2024 cyber risk report, the surge in mergers and acquisitions (M&A) and the increasing reliance on major software vendors has provided new opportunities for threat actors. Business Intelligence Reports – MyMotionCalendar The report released by Resilience is based on data from its threat intelligence team and insurance claims portfolio to analyze trends in hacking activity and industry responses. Key findings include: Ransomware remained the leading cause of loss since January 2023, with 64% of ransomware-related claims resulting in a loss. The financial severity of claims related to ransomware attacks increased 411% from 2022 to 2023. Ransomware attacks on Change Healthcare and CDK Global, as well as the PanOS zero-day vulnerability, represented 2024’s top claim-driving events so far. Of all claims received since January 2023, 35% were due to vendor data breaches or ransom attacks exploiting a third-party vendor. This includes notable vulnerabilities associated with Ivanti software. In 2024, that number is already 40% and expected to grow. The BlackCat hacking group—responsible for the Change Healthcare cyber incident—entered 2024 with an existing track record: in 2023, the group topped the list of most costly attacks, with BlackCat attacks accounting for 18% of covered losses from ransomware. Two sectors saw the largest increases in claims in 2024: manufacturing and construction. Manufacturing rose from 15.2% of all claims in 2023 to 41.7% of all claims in 2024; while construction rose from 6.1% of 2023 claims to 25.0% of 2024 claims. The report also noted that global M&A deal volume grew 36% in the first quarter of 2024. The interconnected nature of modern business systems and the acquisition of new companies have only amplified the impact of these cyberattacks. Similarly, the consolidation of technology, where industries rely on single suppliers for critical services, can lead to catastrophic consequences if a breach occurs. Impacted organizations typically face business interruption and lost revenue in addition to potential ransom payments. What is the difference between reporting and Business Intelligence “Major attacks like the ones on Change Healthcare, CDK Global, and AT&T have been wreaking havoc and making headlines, but they also remind us that we’re facing a new status quo. Increased vendor interdependence and M&A activity have created an unprecedented opportunity for hackers, with far more points of failure and potential for human error,” said Vishaal “V8” Hariprasad, co-founder and CEO of Resilience. Resilience’s global head of claims, Tom Egglestone, stressed that cybersecurity can no longer be treated as a mere budget item. Instead, he highlighted a risk-centric approach, especially one where security strategies are aligned with the financial implications of cyber threats. Do you have something to say about Resilience’s findings and the link between M&A and cybersecurity vulnerabilities? Please share your comments below. Related Stories Please enable JavaScript to view the comments powered by Disqus. Keep up with the latest news and events Join our mailing list, it’s free! Business Intelligence Reporting Preset This page requires JavaScript 3 Artificial Intelligence Stocks with Promising Applications InvestorPlace – Stock Market News, Stock Advice & Trading Tips Artificial intelligence made headlines in 2024, with stocks in the space appreciating tremendously. Amid the growing adoption of technology, many companies are shelling out billions to advance their AI capabilities. According to a recent report by CompTIA, 22% of companies aim to pursue AI integration across their products. The report also found that 33% of companies are working with some type of AI application to improve their service and product delivery. By riding this wave, investors can be sure to see gains over the medium term. Artificial intelligence is still in its infancy, which means these stocks hold great potential. Numerous technology applications are still being explored. For instance, it could have use cases in defense, chatbots and data analysis. Consider these three companies if you want to invest in solid artificial intelligence stocks with great promise in returns. Let’s examine why these three stocks stand out. Nvidia (NVDA) Nvidia (NASDAQ:NVDA) started as a graphics card company. However, its chips quickly became popular in the artificial intelligence sector. Since then, the company has been working to produce faster and more efficient chips for the industry. CEO Jensen Huang has played an important role in this transformation, making Nvidia the go-to company for the best artificial intelligence chips. Thus far, Huang’s efforts have paid off and Nvidia has been the top artificial intelligence stock of 2024. Despite sliding by double digits in the past few weeks, NVDA is still up 116.42% year. Over the past 12 months, the stock has gained 129.52%. Looking at the EPS, Nvidia has continued to maintain phenomenal growth. In the last quarterly results, it reported an EPS of $5.98, a 629% year-over-year increase. Its current trailing 12-month price-to-earnings ratio of 59.59 is relatively high. However, this high valuation is justifiable if it continues to maintain earnings growth. Additionally, the company has a robust buyback program and pays out dividends. In its first quarter fiscal 2025 results, it announced it had increased payouts by 150% to 10 cents per share. Over the past five years, NVDA has been one of the best-performing stocks, rising over 2500%. The great stock performance, increased dividend payouts and the rising adoption of AI make Nvidia one of the best artificial intelligence stocks to own in August 2024. Arista Networks (ANET) Arista Networks (NYSE:ANET) is a leading software provider in the cloud computing and data center industries. The rise of artificial intelligence has been a huge boost for the company. All artificial intelligence models require massive amounts of data, which is where Arista comes in. It is helping to create networks that can adapt to the changing needs …