Tag: cybersecurity

The Artificial Intelligence (AI) skills revolution is no longer a future concept or speculative technology. Generative AI is here now. It is rapidly reshaping industries and rewriting the rules of competitiveness. In South Africa, generative AI holds immense potential. It can drive inclusive economic growth, boost productivity and spark entrepreneurial innovation.

You don’t need to run a big business to attract cybercriminals. In fact, cybercriminals often target medium-sized businesses first. These businesses are digital enough to be vulnerable but not mature enough to secure themselves fully.

Prioritising cybersecurity through business risks delivers the highest value protection. Cyberattacks have graduated from "possible" to "probable", according to a major South African insurer. Businesses must act to reduce cyber risks, which many are doing by spending on new security services.

Artificial Intelligence (AI), cybersecurity and advanced analytics are no longer optional extras - they are reshaping the very fabric of global supply chains. As digital transformation accelerates worldwide, South African businesses are increasingly stepping up to lead this shift.

Artificial Intelligence (AI) and machine learning algorithms have fast-tracked automation in South Africa’s insurance industry. However, these solutions also introduce unique cybersecurity vulnerabilities. Specifically, adversarial attacks can compromise the accuracy of risk assessments, bypass fraud detection and disrupt claims processing. Without proper digital security in place, this can lead to compliance violations and severely damage the reputation of local insurers.

As industries continue to undergo rapid digital transformation, the question on everyone's mind is, "Will AI take my job?". The answer isn’t as simple as a yes or no. Artificial Intelligence (AI) is changing the job landscape, but rather than replacing humans outright, it’s creating new opportunities. While some traditional tasks may be automated, entirely new roles are emerging that require unique skills in AI, data and digital expertise.

In 2016 Klaus Schwab, Executive Chairman of the World Economic Forum reflected on the intersection of technology and humanity. Schwab expressed concern about how technology like smartphones could affect our compassion and connection with others, possibly depriving us of meaningful engagement.

The financial service industry is no stranger to stringent regulation. Unlike other sectors that have scrambled to comply with legislation such as NIS2, financial service organisations are comparatively pretty diligent when it comes to data resilience and cybersecurity.

The rapid integration and adoption of Artificial Intelligence (AI) across various industries and sectors is transforming the way businesses operate. It is driving efficiency, innovation and cost savings with its prolific progress. AI is reshaping the workplace at an unprecedented pace. It is streamlining administrative tasks and optimising complex processes.

The C-suite has long left data resilience and cybersecurity in the hands of security and IT teams. It has been a case of ‘leave it to the experts’, and for a long time, that made sense. But as organisations have become increasingly dependent on technology and breaches have become a case of ‘when’ rather than ‘if,’ cybersecurity has become a part of everyone’s day-to-day.