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8 major IT disasters of 2024

CIO Business Intelligence

Microsoft in February launched an investigation of its Copilot AI chatbot after reports on social media of it taunting users who suggested they were considering suicide. The department blamed a vendor working for the federal government for incorrectly calculating the financial aid formula, affecting more than 200,000 students.

Financial 340
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Meta creates ‘Business AI’ group led by ex-Salesforce AI CEO Clara Shih

CIO Business Intelligence

Since Meta licenses each of its AI models separately there’s nothing stopping it from lowering that threshold for future versions to bring more applications for the software under its control or demanding financial compensation for broader usage licenses.

Groups 329
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Social Media Meets Tulip Mania

Forrester IT

A determined group of small investors have used the power of social media to punish “the smart money” by pushing the price of GameStop, a widely shorted stock, from $19 to $325 (as of this writing). It’s a story straight out of the Sherwood Forest, with a stopover in Holland. As the saga continues to […].

Media 375
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How to protect your business from email compromise – and be prepared if protection falls short

CIO Business Intelligence

The attacks, in which criminals frequently leverage social engineering to impersonate company insiders, C-suite executives or trusted vendors to request urgent payments, can financially devastate organizations. We tell our clients, don’t be embarrassed. The sooner we know, the faster we can act.

Banking 262
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Generative AI, the Digital Divide, and the Tremendous Opportunity

Information Week

GenAI’s rapid advancement certainly has its drawbacks, but there is an opportunity for telecommunications companies to help mitigate the impacts while also driving financial value and building social capital.

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When voice deepfakes come calling

CIO Business Intelligence

In a recent TransUnion survey of call center organizations, nearly two-thirds of financial industry respondents claim the majority of ATOs originate in the call center. Once this is achieved, the threat actor calls using their own voice to social engineer the agent.

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Chinese cyber espionage growing across all industry sectors

CIO Business Intelligence

But it was financial services, media, manufacturing, industrials, and engineering that saw the biggest surges in China-linked intrusions last year 200-300% growth rates compared to 2023. Overall, the number of intrusions and new Chinese cyber espionage groups grew across the board.

Industry 330