Wouldn’t it be nice if life were more automated? Thankfully it is. Before we start panicking that robots will steal our jobs, let’s focus instead on how robotics and AI can improve our jobs. Some industries (like sales) depend on personal touches, but there’s more to sales than just a phone call.
The best sales tend to stem from lengthy research. When aspects of research are automated, an algorithm can quickly identify buying trends. Data extracted by AI gives a more rounded picture of a sales target than old school methods. Decisions can be made based on data rather than hunches. This efficiency can cut the time ordinarily spent at the top of the funnel.
The same way travel companies use an AI algorithm for setting airfare prices, sales companies can use AI to customize price proposals for the most advantageous deals. AI can also be helpful in determining whether a customer is likely to go for an up or cross-sale. Sometimes the cross or upsell with the wrong target can end a deal in its tracks. Reliable forecasting can fix that.
Sales organizations that resist the imminent AI advances will likely struggle. Historically the sales industry is slow to adapt to big tech changes. As more companies digitize operations, the days of cold calling will become extinct. Even today, many corporate email and phone systems have machine learning in place to screen out unwanted solicitation.
Companies that embrace AI will reap its rewards. Consumer buying choices are already largely effected by AI. An algorithm determines what streaming choices are best suited to our tastes. Our phones know more about our buying choices than we do. Tracking pixels embedded in web pages generate retargeting that aims to get you to buy that thing you were looking at online. Organizations with the highest level of customer satisfaction are doing so by pivoting their sales strategy based on machine learned data.
Data security continues to be the biggest threat to most organizations in the US. With the new revelations (and subsequent charges in the 2018 Equifax breach) cybercrime will remain a trending topic. Many consumers are still waiting for a piece of their settlement from the class action lawsuit as a result of the breach.
What worries experts more than traditional hacking are the alarming rise in ransomware attacks. Ransomware differs from malware or a typical security breach in that victims’ software is held hostage until hackers are paid. Ransomware has become much more innovative. Some companies even specialize in it.
In the past ransomware was somewhat rare as it required criminals to be well-versed in coding. Today’s digital intruders are much savvier and work with third party programmers. This phenomenon is not all that different from Software as a Service (SaaS). Instead of useful, problem solving software, Ransomware as a Service (RaaS) lives in the shadows of the internet. Developers are creating and selling products that make ransomware easier to deploy.
One of the most egregious instances of ransomware occurred in 2016 when Hollywood Presbyterian Medical Center paid over $17,000 in bitcoin to get their operations back online. For hackers, medical records are a hot commodity as they have endless potential for blackmail.
The idea of hackers getting into medical and government records is a frightening notion, but scarier still is the remote capability to shut down operations of vital services. This is especially precarious when considering electric power grids. With an efficient RaaS program, even a low-level cybercriminal could potentially bring an organization to a total standstill. Cyberwarfare will likely replace the battlefields of yore. Instead of striking cities with drones, one could use ransomware or malware to suspend electricity and other forms of digital communications.
The best way to avoid paying out for ransomware attacks is to always be backing up your systems and data. Diversify backups between cloud and hard storage. With growing dependence on cloud storage comes a greater need for quality cloud security. As futuristic as ransomware attacks sound, having a contingency plan is another strategic way to avoid the fall-out. Just as your office has a plan for a fire or tornado, so too must there be a plan for data breaches and ransom attacks. As they say, a good offense is a good defense.
It’s no question the Iowa Democratic Caucus of 2020 was a mess. Reporting was delayed for days and what data did come out is subject to much scrutiny as data sets did not match up. While the 2020 election cycle moves on, many are left wondering what happened?
The simplest answer is that the app developed by former campaign staffers broke. Traditionally, the Iowa Caucus relied on precincts dialing in their results. This year, an external app was used so that election officials could report their results. The app was not previously tested and wasn’t able to handle the volume of submissions. The phone lines were also not equipped to handle the volume of inbound calls from election officials, leaving many people on hold for hours.
Cybersecurity experts are baffled by the lack of testing. The Iowa Democratic Party is reassuring media outlets that no hacking occurred, and the data was not compromised. With such seemingly minimal oversight, it’s hard to trust the future use of such an app. The results of future elections will likely be called into question if efforts to modernize processes aren’t fully vetted. The big world impact could be a continued decline in public trust of elections, which has serious implications.
What the situation in Iowa taught us is that critical voter data is vulnerable when newly developed technology is rushed into use. Unfortunately for the state of Iowa, this snafu has called into question its significance as a gauge for predicting election outcomes.
It’s been said that humans are becoming nothing but data for companies. That’s certainly a cynical outlook, but it’s not entirely wrong. As the CCPA ratchets up regulations on how companies can store and collect data on users, it begs the question what happens to our data after we die?
Several companies specialize in the destruction of your consumer data after you pass on. Recently California enacted data security laws that now allow you to request a company destroy any data they’ve collected on you. This option is currently only available to California residents, but it’s expected that other states will follow suit shortly. If you’re dead, why would you care about your personal data? Good question. Think about it this way, all the iTunes music and movies you’ve purchased over the years, are actually the licenses to stream the content, not the actual content itself. Those licenses expire upon your end of life. Not leaving behind digital copies of your favorite films to friends and family may sound like a frivolous thing to worry about, but the implications of your digital footprint are much bigger.
Consider your medical records. The UK legally stipulates that medical records must be kept for at least 10 years after you die. Access is considerably restricted, but it is out there and subject to data breaches. Is there anything in your medical history you’d prefer stay private?
Most if not all search engine and email companies do not have any limits on how long it can store the private content of emails, cloud storage or other personal details. Would you be okay with your entire inbox being exposed to the world in the event of a breach? Probably not.
Some consumer companies do not have a great reputation for data security. When you are alive, you’re able to control what happens to your data and privacy in the wake of a data hack, but in death you and your reputation are powerless. There are things you can do now to prevent potentially embarrassing information to be leaked but it requires a careful comb of your digital profile. Perhaps you should be asking more companies to destroy your data, and maybe be more mindful about whose cookies you freely accept online.
If we’ve learned anything from global politics, it’s that every piece of technology equipment is vulnerable to hackers. The very idea of a data breach is enough to keep a security executive (or CISO) up at night. Bad press, huge revenue losses, eroded consumer trust and worse, heavy penalty fees have led the industry to develop the Zero Trust model.
Zero Trust is fairly literal. Meaning, it’s a security system that does not trust any user attempts to access (or work within the applications), of an enterprise system unless their ID can be verified at several points. It was created by John Kindervag of Forrester Research in 2018. Since then it’s become a buzz word that few truly grasp the meaning of.
Ordinarily, an organization’s data accessibility assumes that if you are able to log in, you can be trusted. This model has become outdated as cybercrime gets more sophisticated. 64% of organizations have experienced a phishing attack in the past year. Most hacks are the result of a phishing link in an email being clicked on. In fact, 90% of data breaches involve some sort of phishing element. Often the entry point for a hacker isn’t where the data they want lives, but it grants them access to whatever isn’t restricted. Zero Trust aims to make these kinds of scams impossible. If implemented correctly, attempts to hack into an enterprise system would trigger alarms for the security team, thus thwarting the attack before it starts.
Many organizations do not have the resources to entirely overhaul their current security measures, but thankfully Zero Trust is scalable to fit the needs of your organization. There are many iterations of Zero Trust and some of them may already be in use at your company. A lot of IT staffs have already started rolling out pieces of Zero Trust, including virtual seminars and fake phishing scam links in employee email accounts. The bigger Zero Trust picture is that data breaches are preventable, but it comes down to good training, strong security measures and knowledgeable security professionals.
Inspired by California’s CCPA, more states are debating whether to follow suit. The California Consumer Privacy Act (CCPA) is a bill signed into law in late 2019 to protect California residents from having their personal data shared or sold to third parties without consent. This law went into effect on the first of the year.
The CCPA follows quick on the heels of the General Data Protection Regulation (GDPR) in Europe, which took effect in 2018. The key tenants of the law are very similar, essentially barring organizations from collecting or storing personal data without the consumer’s consent. As a result, nearly every website now informs users that some sort of digital fingerprint is being recorded.
So what is my “data” and why is that important? Personal data is defined by the state of California as “information that identifies, relates to, describes, is reasonably capable of being associated with, or could reasonably be linked, directly or indirectly, with a particular consumer or household.” The use of your personal data by companies is important because it can determine how an organization will market directly to you, even if you don’t want them to. Think of all those robocalls and junk emails you get that you don’t remember opting into. That is likely the result of a company that you did share your info with, selling that data to another company that also wants to market to you.
One of the biggest points of the CCPA is that consumers have the right to access the data being collected on them, the right to ask an organization to delete their data, and the right to not have their data shared with anyone unless they personally opt-in. Enforcing this new law will be challenging as nearly 90% of American companies are not yet in compliance. Consequences for failing to adhere to the new law include steep, even financially devastating fines regulated by the FEC.
Currently the law only protects California residents, but it’s expected that other states will quickly adopt the law too. Since California has one of the highest populations of any US states, the CCPA is important for any organization targeting California residents for marketing or commerce. Data breaches continue to erode consumer trust and the CCPA is the first measure taken by a US state to hold companies legally liable for any mishandling. Expect states like Massachusetts, Minnesota, Pennsylvania, New Jersey, and New York to follow.
March 19, 2019 – Loews Hollywood Hotel, Los Angeles, CA
While there were subfreezing temperatures in Chicago, we were thrilled to hold our CIO and CISO Southern California Summits in beautiful Los Angeles, CA at the Loews Hollywood Hotel. These summits welcomed CIOs and CISOs as well as other IT/security executives throughout SoCal and featured conversations and thought leadership discussions around the latest topics including digital transformation, augmented analytics, smart spaces, cybersecurity, blockchain and much more.
A special thank you to our speakers for their excellent insight throughout this busy day:
Tim Moran, Former Senior Vice President of Global Information Technology Financial Systems, Live Nation Entertainment (Master of Ceremonies)
Tim Moran, Former Senior Vice President of Global Information Technology Financial Systems, Live Nation Entertainment (Moderator)
Mark Van Holsbeck, CISO, Avery Dennison
Lance Hassell, Chief Operating Officer, Covenant Care
Kathy Linares, VP of IT, Insulectro
Paul Love, CISO, CO-OP Financial Services
Women in IT Panel:
Helen Norris, Vice President, Chief Information Officer, Chapman University
Louise Brandy, VP of Enterprise Applications, Essex Property Trust
Kathy Linares, VP of IT, Insulectro
Nayaki Nayyar, President, Digital Service Management, BMC Software
Nicole McMackin, President and CEO, Irvine Technology Corporation
Carol Fawcett, Corporate Vice President, Chief Information Officer, Golden State Foods
We are confident that our attendees created new connections with their peers, uncovered one or more new ideas that will impact their digital transformation efforts and found several new solution providers that can help them achieve their goals. We look forward to seeing everyone again at next year’s CIO and CISO Southern California Summits!
We’re thrilled to announce the next episode of the Executive Insights Podcast series. The third episode of the podcast features Ken Kumar, a global executive technology leader in the pharmaceutical and manufacturing industry, as he sits down with our Relationship Management Director, John Suguitan.
Tune in to the second episode of the podcast series where Sergio shares his insight on the latest challenges facing his industry, the latest technology disruptors, the impact of digital transformation and more!
March 14, 2019 – Four Seasons – Brickell, Miami, FL
We took our talents down to South Beach for our CIO & CISO Miami Summits on March 14, 2019 at the Four Seasons in downtown Miami. These summits welcomed CIOs and CISOs as well as other IT/security executives throughout the South Florida and featured conversations and thought leadership discussions around the latest topics including digital transformation, augmented analytics, smart spaces, cybersecurity, blockchain and much more.
A special thank your to our speakers for their excellent insight throughout this busy day:
Annalisa Fernandez, Intercultural Strategist, Because Culture (Moderator)
Gary Eppinger, CISO, Carnival Corporation
Lars Schmekel, CISO, Miami Dade County
Chris Harrison, CTO, Nova Southeastern University
Greg Taffet, MC, Board Member of South Florida Digital Alliance, former CIO, US Gas and Electric
We are confident that our attendees created new connections with their peers, uncovered one or more new ideas that will impact their digital transformation efforts and found several new solution providers that can help them achieve their goals. We look forward to seeing everyone again at next year’s CIO and CISO Miami Summits!
March 12, 2019 – Convene – 16 W Adams, Chicago, IL
Being headquartered in Chicago, we are always excited to host our summits in our backyard as the CIO and CISO Chicago Summits took place at the Convene – 16 W Adams in the Loop. These summits welcomed CIOs and CISOs as well as other IT/security executives throughout the Windy City region and featured conversations and thought leadership discussions around the latest topics including digital transformation, augmented analytics, smart spaces, cybersecurity, blockchain and much more.
A special thank your to our speakers for their excellent insight throughout this busy day:
Vince Fattore, CIO, Temperature Equipment Corporation
Mohammed Dastagir, Chief Technology Officer, Sears Holdings Corporation
We are confident that our attendees created new connections with their peers, uncovered one or more new ideas that will impact their digital transformation efforts and found several new solution providers that can help them achieve their goals. We look forward to seeing everyone again at next year’s CIO and CISO Chicago Summits!