Business

How to prevent a cyberattack on your organization

“Organizations need to brush up on security hygiene,” says one expert. “Companies need to incentivize following the protocols.”

Published

9 months ago

March 20, 2023

Dave Gordon

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You wouldn’t expect cyber-criminals to target a lifestyle and bookstore.

In February, Canada’s much-beloved bookstore chain Indigo fell prey to ransomware threats — specifically to pay up, or its employee data would be released.

The attack also left the retailer’s website not working at full capacity, and its brick-and-mortar stores briefly unable to process any debit or credit payments. The effects of the attack even lingered into March.

But none of this surprised cyber-security experts, who all said at some point, “it’s not if, but when,” a company is hit with a security breach.

Shira Rubinoff — who provides cybersecurity guidance to numerous Fortune 100 companies, and serves on the board of Pace University’s Cybersecurity Program — said whether the ransom was paid or not, the data could invariably be sold to another bad actor anyway.

“Organizations need to brush up on security hygiene,” noted Rubinoff, who has built two cybersecurity product companies, and currently serves as president of the New York-based technology incubator, Prime Tech Partners, and the social-media-security firm, SecureMySocial. “Companies need to have a security process, trained people, and the right technology. But the glue in the middle is the training; make people cyber-aware within the organization. Companies need to incentivize following the protocols.”

She said the worst attacks to spot are phishing attacks, which attempt to deceive people into revealing sensitive information. “They look real. It might be end-of-day, and a worker clicks on it, and it’s from a nefarious bad actor that’s trying to penetrate the organization,” Rubinoff explains.

“It might be from someone who pretends to be from another company, offering them a rise in their position. But it’s really someone trying to get information.”

In the wake of several Canadian hospitals seeing their data hacked, the CEO of Canadian Internet Registration Authority Byron Holland, noted that a third of organizations have seen some kind of security breach.

“Lack of focus and money” were the reasons behind poor security protocols, Holland outlined in a Globe and Mail webinar on cybersecurity in Canadian healthcare, adding that necessary tools must include multi-factor authentication, firewalls, security training, among others.

Watch the webinar:

Toronto’s Hospital for Sick Children, Ross Memorial Hospital (Lindsay, Ontario), Newfoundland and Labrador’s provincial health data, and California-based Regal Medical Group have all fallen victim to breaches in recent months. In 2019, LifeLabs — Canada’s largest medical lab — was hacked, leaving vulnerable the personal information of fifteen million people.

Recognizing the growing problem, last year the Canadian government announced it was taking further measures to “bolster cybersecurity across the financial, telecommunications, energy, and transportation sectors.” The proposed legislation aims to “amend the Telecommunications Act to provide the Government with the legal authority to mandate any necessary action to secure” exposure from high-risk suppliers. In addition, the legislation introduced the Critical Cyber Systems Protection Act, that among many things, will help organizations better prevent and prevent cyberattacks.

Some 45% of small businesses in Canada have experienced a cyberattack in the past year, according to the Canadian Federation of Independent Business. One in ten experienced a phishing attack with someone impersonating a CEO or business leader. In the first half of 2020, attacks on web applications were up eight hundred per cent over the year before.

It should come as no surprise, then, that about one in ten staff have completed mandatory cybersecurity training, and eight per cent, optional training, according to the same report.

Alex Plotkin, CEO of Cyberwall Defence, explains that three-quarters of the time, a bug comes through email, and it’s a simple fix as buying al filter that any IT company can provide.

Most companies aren’t aware there are regulations they’re supposed to follow, he noted.

“Half of SMB CEOs have no clue about these regulations. They likely know anti-spam regulation, but nothing about cyberattack regulation to protect the information you have already.”

Finally, his advice is that employees not reveal too much about themselves on social media, such as their dog’s name, kids’ names, or hobbies. Attackers know that these are often password answers to private information.

Ben Rothke is a New York City-based Senior Information Security Manager for Tapad, a company that analyzes internet and device data for marketing. He is responsible for information security, data privacy, compliance, and risk management. He advises every company to have a documented and tested incident response plan, for before, during, and after an information security incident.

“Most responses tend to be haphazard,” he said.

Jeff Goldenberg, who has over three decades of security and fraud prevention experience, concurs. “Most companies, especially companies not in the financial services or health services — which are heavily regulated — simply don’t give a crap about security.”

This is especially true of SMEs, who have little budget to spend on security, and unwisely think they’re never on hackers’ radar.

“The biggest mistake that everyone makes, big or small, is that security is the security team’s responsibility,” he added. It’s actually everyone’s responsibility.”

To make matters worse, in recent years workers have come with their own computers, rather than a corporate-issued device curated by IT with certain controls and software. “It’s a mess waiting to happen. At a bare minimum, you should be running anti-virus software, and that includes Apple users. You absolutely need it for Macs too, because the idea that they’re immune is nonsense.”

Goldenberg adds that every staffer of every company should be “forced to take annual cyber-security training,” a resource widely available. “Even Visa and Wells Fargo use these external third-party sources, because they’re really good and effective. It’s a twenty minute course, so you know how not to be the cause of your own company’s breach.”

Some security tips are obvious, he says — for example, don’t give out your password, don’t open strange attachments, and don’t answer emails from people you don’t know. But an under-utilized security feature is multi-factor authentication, which provides an extra line of defense. Bluntly speaking, Goldenberg adds: “Passwords are useless.”

Dave Gordon

Dave is a journalist whose work has appeared in more than 100 media outlets around the world, including BBC, National Post, Washington Times, Globe and Mail, New York Times, Baltimore Sun.

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mesh conference hits Toronto next week — here’s what’s in store

In one week, innovators and digital transformation leaders from across North America will gather at the Symes in Toronto for the mesh conference.

Published

3 days ago

November 30, 2023

mesh conference

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In one week, innovators and digital transformation leaders from across North America will gather at the Symes in Toronto for the mesh conference. With a focus on four threads — business, media and technology, society, and marketing — mesh will connect, share, and inspire others to think about changing how we think, organize, operate and behave.

The mesh conference differs from your typical transformation and innovation event in part thanks to two simple rules: no slide decks and canned presentations, and no pay-to-play sessions. The result? Lively sessions where the audience is encouraged to engage with speakers throughout.

The theme for this edition is “Human-powered, tech-enabled.” Speakers and attendees will explore the pivotal role of technologies in augmenting human capabilities to improve workplace diversity, enhance competitiveness, and even turn back time on human-induced environmental damage through “de-extinction”.

The full mesh speaker lineup

Over the course of two days, more than 20 speakers will take part in the Toronto event on December 6-7, 2023. The full run-of-show, with speakers and sessions, includes:

mesh conference — Dr. Michael Geist (Canada Research Chair in Internet and E-Commerce Law, University of Ottawa) and Tyler Chisholm (clearmotive marketing)

Canada’s digital policy has gone off the rails. What should the engaged community be doing?

Dr. Michael Geist (Canada Research Chair in Internet and E-Commerce Law, University of Ottawa) will join Tyler Chisholm (clearmotive marketing) to discuss the Meta ban on news, Google’s newly announced search policy around news (backed by $100 million for the industry) and podcasting regulations. Dr. Geist will explain why he has described the law as a “total policy disaster” and an “epic policy blunder” by the government. On the heels of his testimony before the CRTC, he’ll share his insights on what we might expect next and what engaged communities should be doing. Gain a greater understanding of the policy landscape and its impact on how we live and work.

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Leveraging AI to create a more diverse and inclusive tech industry

Marissa McNeelands (CEO of Toast) will be joined by Elena Yunusov (Human Feedback Foundation) to discuss how her company works to eliminate gender bias in tech hiring. TOAST, Canada’s first female-focused talent partner, uses a unique AI-driven recruitment tool to help organizations diversify their tech teams and support women in tech careers. This session will explore the role that data and algorithms could play in fostering a more inclusive workforce.

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AI, Creativity, and Inclusivity: Empowering Tomorrow’s Marketing Leaders

This panel explores how AI and creativity can foster economic empowerment through tech skills training and career growth. The panel will delve into the impact of AI on marketing, the importance of diversity and inclusivity in its design, and the role of continuous education. The session aims to understand economic empowerment through tech skills training, career growth, and a nurturing environment. Features Natalie Black (Mia), Liberty White (CHOZEN MEDIA), Prieeyya Kaur Kesh (Mia), and Anne-Marie Enns (Mia)

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Innovating for Canada’s Competitive Edge

Join Dana O’Born (Council of Canadian Innovators), Tracey Bodnarchuk (Canada Powered by Women), and Stuart MacDonald (Narrative Fund) as they discuss the future of Canadian competitiveness through the lens of innovation and transformation. This session will explore the technology and energy industries and why innovation is a team sport. Looking at both growing and transitioning sectors, they will explore how Canada can leverage its strengths and overcome challenges to maintain a competitive edge in the global market and create a sustainable, prosperous future.

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Why ‘de-extinction’ is vital to fighting climate change

Join Ben Lamm (CEO of Colossal) and Chris Hogg (DJG) for a riveting discussion on de-extinction and its role in combating climate change. Could the woolly mammoth, the Tasmanian tiger, and the dodo bird be agents of change? Learn about Colossal’s groundbreaking work in reviving extinct species and how this contributes to biodiversity restoration. We will delve into the technology behind halting extinction, preserving animal DNA, and reversing human-induced environmental damage. Explore how de-extinction can restore lost ecosystems, increase biodiversity, and contribute to environmental sustainability. This session promises to spark insightful discussions on the future of biotech and environmental conservation.

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AI in Marketing: Magic Wand, Double-Edged Sword or Pandora’s Box

Darnel Moore will explore customer marketing strategies in the context of AI. We will delve into how AI can personalize content at scale and analyze customer behaviour while highlighting the importance of human insight and intervention in marketing. Have we crossed the line when the computer tracks, predicts and influences customer behaviours? Where and when is it best to deploy machine learning and AI in your marketing strategy? At what point in the process is it still best for humans to drive the process? How do we ensure that AI supports the customer journey and that the tools we deploy do not undermine an authentic, transparent relationship? Join us as we aspire to find where the balance is best placed between AI tools and human intention, avoid repeating the mistakes of social media and aim to harness the power of AI responsibly.

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The Almighty AI: Friend or Foe for the Sustainability Agenda?

While headlines are dominated by the thrill and alarm of the rise in Artificial Intelligence applications and utility across industries, they have overshadowed another existential hot topic: Sustainability and ESG. This fireside chat will examine AI’s role in the Sustainability agenda for communities, businesses, and national states, and in what ways leaders across sectors are taking action today for impact tomorrow. We might even imagine new kinds of futures where artificial and collective intelligence collide in this unique chat forum. Features Amy Peck (EndeavorXR) and Rika Nakazawa (NTT).

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Amplifying Community Actions: Case Study of the Second Harvest Food Rescue App

Lori Nikkel (CEO of Second Harvest) and Winston Rosser (VP, Second Harvest) will join Mark Evans (Marketing Spark) to discuss their innovative approach to combating food waste and insecurity, particularly during the COVID-19 pandemic and its aftermath. They’ll share how their technology platform has facilitated partnerships between food donors and non-profits, enabling them to scale the redistribution of surplus food from coast to coast to coast. Learn about the increased efficiency that allowed them to connect 5,600 donors with 3,400 non-profits–rescuing 24 million pounds of food, averting 79.3 million pounds of greenhouse gases, and saving 13.2 billion litres of water in the last year alone.

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AI & Procurement: The Intersection of Innovation, Risk and Law

Join Colleen Pound (CEO of Proxure), Mary Jane Dykeman (INQ Law) and David Potter (Vog) for an enlightening session on the transformative role of AI and technology in professional services. They will delve into how these tools are levelling the playing field, particularly in procurement and legal services. Colleen, with her expertise in automation and predictive analytics, will shed light on procuring AI solutions. Mary Jane, a seasoned health and data lawyer, will discuss the legal and risk management aspects of AI adoption. This session promises a rich blend of insights from the tech startup and healthcare sectors.

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Digital Journal is an official media partner of the mesh conference. Learn more and get tickets to the mesh conference, happening December 6-7 in Toronto, at meshconference.com

mesh conference

mesh is Canada’s digital transformation event experience. Taking place in Calgary (April 12-13, 2023) and Toronto (November 2023), mesh aims to create a digital transformation network and event experience that helps organizations and leaders determine what to do, how to do it, and how to be successful. Learn more at meshconference.com

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Business

AI is taking the world by storm — unless you’re in finance, Gartner survey finds

61% of finance leaders aren’t using AI and Gartner explores why in their latest survey.

Published

5 days ago

November 28, 2023

Veronica Ott

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We’ve seen plenty of studies, industry updates, and tech investments pointing to an AI revolution in virtually every industry, especially IT and customer service.

But one Gartner survey shows a lag in AI adoption by the finance industry. The technology research and consulting firm conducted a survey of 130 finance leaders and noticed “limited” AI implementations:

“Despite AI’s potential, most finance functions’ AI implementations have remained limited. As they begin to chart out a plan for how best to prioritize that additional investment, CFOs should partner with their finance leadership teams to compare their current progress against their peers’ and identify concrete recommendations from early adopters on how best to accelerate AI use in their function.”

Marco Steeker, Senior Principal, Gartner Finance Practice

Here are a few highlights from the report:

Most finance leaders using AI are only in early stages

Gartner found that only 8% of finance organizations are using AI in production, which is much less than the 20% in other areas like HR, real estate, and procurement. This speaks to finance being over two times behind in AI use compared to the rest of the departmental functions. Additionally, a mere 1% of finance leaders say they’re in the scaling phase.

Finance leaders prioritize other initiatives over AI

The survey asked respondents why they haven’t used AI in primary finance functions, and the majority of answers included these four reasons:

Lack of technical capabilities
Low-quality data
Insufficient use cases
Other priorities

The latter reason felt the most problematic within finance leaders’ perspectives:

“What this perspective underappreciates is that AI can be a critical enabler of finance leaders’ “other priorities,” such as more dynamic financial planning or close and consolidation efficiency.”

Marco Steeker, Senior Principal, Gartner Finance Practice

A recent Dye & Durham report suggests AI could help stabilize the financial sector as interest rates and economic indicators sway by offering efficiency, cost reduction, and accuracy — but the hesitancy remains. Their report also found that a majority of skilled professionals, including lawyers, doctors, and financiers, express discomfort with incorporating AI into their services.

Existing AI use in finance varies across different functions

The Gartner survey found that finance departments don’t use AI for one main function across the board. Instead, it’s use cases are varied and include:

Accounting support
Anomaly/error detection
Financial analysis

Learn more about the Gartner survey here.

Veronica Ott

Veronica Ott is a freelance writer and digital marketer with a specialization in finance and business. As a CPA with experience in the industry, she’s able to provide unique insight into various monetary, financial and economic topics. When Veronica isn’t writing, you can find her watching the latest films!

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Business

mesh conference to explore animal ‘de-extinction’ and how Canada’s digital policy has gone off the rails

Today the mesh conference announced that biotech leader Ben Lamm and prominent lawyer Michael Geist will keynote at the Dec 6-7 event in Toronto.

Published

2 weeks ago

November 20, 2023

mesh conference

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On December 6-7, all innovation roads lead to the mesh conference in Toronto, and today the event unveiled more detail on two featured keynote speakers.

Joining the mesh conference as a keynote speaker is Colossal CEO, Ben Lamm. Known for his pioneering work at the intersection of biotechnology and conservation, Lamm’s presence promises to ignite discussions and offer unparalleled insights into the future of biotech, de-extinction, and environmental sustainability.

Also joining mesh as a keynote speaker is Dr. Michael Geist, a prominent lawyer and leading authority on technology law and policy. Geist has been a regular columnist on digital policy with leading publications such as the Globe and Mail and Toronto Star and is the creator and host of Law Bytes, one of Canada’s top technology podcasts.

With a focus on four threads — business, media and technology, society, and marketing — the mesh conference hosts Canadian digital transformation leaders who will meet to connect, share, and inspire others to think about changing the way we think, organize, operate and behave.

Ben Lamm (left) and George Church started "de-extinction" company, Colossal — Ben Lamm (left) and George Church started “de-extinction” company, Colossal. – Image courtesy Colossal

“De-extinction” is vital to fighting climate change

Colossal Biosciences’ Ben Lamm will join the mesh conference for a conversation about the work his company is doing to bring back the woolly mammoth, the Tasmanian tiger, and the dodo bird.

Lamm is a serial entrepreneur who started Colossal in 2021 with George Church, a biologist at Harvard Medical School. The company is working to advance the field of species de-extinction in order to bring back biodiversity and reintroduce species to Earth to help fight climate change.

Colossal’s work comes at a time when the world has entered the sixth extinction crisis, where the loss of species can have devastating effects on biodiversity that is crucial to human survival.

Colossal is building technology to stop the extinction process, secure animal DNA, and reverse environmental damage created by humans.

“In addition to bringing back ancient extinct species like the woolly mammoth, we will be able to leverage our technologies to help preserve critically endangered species that are on the verge of extinction and restore animals where humankind had a hand in their demise,” Lamm says.

De-extinction reverses plant and animal extinction by creating new proxy versions of these lost species. By bringing back extinct animals, the goal is to restore ecosystems that have been lost. By bringing back extinct animals, the goal is to restore ecosystems that have been lost, while increasing biodiversity and restoring ecosystem resilience.

Learn more about Colossal:

Canada’s digital policy has gone off the rails

Dr. Michael Geist will join the mesh conference for a keynote conversation on Canada’s digital policy where he will share his views on why he thinks it’s gone off the rails, and advice about what engaged communities should be doing.

Geist is the Canada Research Chair in Internet and e-Commerce Law, a Faculty member at the Centre for Law, Technology and Society, and a Professor at the University of Ottawa.

At the mesh conference, Geist will lead an engaging discussion that will delve into the current landscape of Canadian digital policy, focusing on the repercussions of the Online News Act, known commonly as Bill C-18. The removal of Canadian news from major platforms like Facebook and Instagram by Meta, as well as the anticipated response from Google involving a ban on Canadian news in search results, will be explored in depth.

Geist, a recognized authority in technology law and policy, will also shed light on the implications and nuances of the Online Streaming Act, formerly known as Bill C-11 that imposes new rules on certain online streaming services.

This session aims to foster a comprehensive understanding of the challenges posed by evolving digital policies in Canada and to propose actionable steps for proactive engagement and advocacy.

Two weeks until we mesh

The mesh conference is a two-day event that will feature a series of inspiring talks, interactive workshops, and panel discussions that delve into how technology and innovation can be used to augment human capabilities to improve our world.

Attendees will gain insights into the latest digital trends, emerging technologies, and strategies for achieving human-centered digital transformation.

The mesh conference is back in Toronto on December 6-7 after relaunching earlier this year in Calgary where more than 200 people met to connect, share, and inspire.

The mesh conference recently announced it will be donating all proceeds from the event to Second Harvest, Canada’s largest food rescue organization and leader in perishable food redistribution.
See more speakers and get your tickets at meshconference.com

mesh conference

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