NEWS
Stolen credentials the leading cause of cyberbreaches in 2023
Stolen credentials through phishing attacks were the most common cause of cyberbreaches among UK businesses last year , a new study has revealed .
Cybersecurity firm IDEE commissioned an independent survey of more than 500 IT and cybersecurity professionals within UK businesses . It found that 61 % of businesses experienced a cyberbreach in 2023 , with 25 % suffering three or more .
When asked to name the cause or causes of their most recent breach , 35 % said it was the result of stolen credentials ( passwords and tokens ) through phishing attacks , making it the most common reason . The next most frequently selected factor with 29 % was ‘ a vulnerability that was not patched by their cybersecurity solution ’.
The data also raises questions about the efficacy of password-based
Multi-Factor Authentication ( MFA ) solutions , with 23 % indicating that their MFA solution was bypassed or compromised in their latest breach . The same number ( 23 %) suffered a breach due to a backdoor attack ( malware that sidesteps authentication procedures to gain access ).
Al Lakhani , CEO of IDEE , said : “ The data perfectly encapsulates the fundamental flaw behind so many MFA solutions : they are password reliant .
“ The cyber industry ’ s ‘ best ’ solutions in recent years have tried to bolster security with additional authentication factors like OTPs , push notifications or QR codes , but these methods remain tethered to centrally stored passwords and are therefore susceptible to phishing attacks .”
Matalan launches groundbreaking GenAI tool to drive online sales in UK first
Kin + Carta has created a Generative AI and Large Language Model ( LLM ) tool for UK retailer Matalan , which allows it to create detailed product descriptions for new items as they are added to its online inventory .
Developed and delivered in only three weeks from the original brief , Kin + Carta built a Generative AI solution that can create product descriptions using product metadata and imagery for Matalan ’ s full product range . These product descriptions aid the retailer to improve SEO and conversion rates and create rich , accurate product descriptions with an absolute minimum of data input .
Using Generative AI , Matalan can now employ a new style of description that is longer , more emotive and contains added value . The bespoke model is also configured to read product imagery , picking out details from any photo images to include in the description .
The descriptions are overseen by a copywriter team to ensure accuracy – and the tool can write a hundred descriptions in 30 minutes vs the maximum of a hundred descriptions a day from Matalan copywriters . The tool was built utilising Vertex AI , part of the Google Cloud suite .
Ewan Nicolson , Director of AI & Data at Kin + Carta , said : “ This new tool is using Generative AI to increase operational efficiency in Matalan ’ s in-house copywriting team and vastly multiply the number of detailed product descriptions Matalan can post on to its e-commerce site every day .”
14 INTELLIGENTCIO EUROPE www . intelligentcio . com