IDC: Asia-Pacific spending on AI systems will reach $5.5 billion this year, up 80 percent from 2018

Spending on artificial intelligence systems in the Asia-Pacific region is expected to reach $5.5 billion this year, an almost 80 percent increase over 2018, driven by businesses in China and the retail industry, according to IDC. In a new report, the research firm also said it expects AI spending to climb at a compound annual […] Continue reading IDC: Asia-Pacific spending on AI systems will reach $5.5 billion this year, up 80 percent from 2018

India’s Locus raises $22 million to expand its logistics management business

Locus, an Indian startup that uses AI to help businesses map out their logistics, has raised $22 million in Series B funding to expand its operations in international markets. The financing round for the four-year-old startup was led by Falcon Edge Capital and Tiger Global Management . Existing investors Exfinity Venture Partners and Blume Ventures […] Continue reading India’s Locus raises $22 million to expand its logistics management business

Google Cloud brings on 27-year SAP veteran as it doubles down on enterprise adoption

Thomas Kurian, the newly-minted CEO of Google Cloud, used the company’s Cloud Next conference last week to lay out his vision for the future of Google’s cloud computing platform. That vision involves, in part, a hiring spree to give businesses that want to work with Google more people to talk to and get help from. […] Continue reading Google Cloud brings on 27-year SAP veteran as it doubles down on enterprise adoption

Cyberattack at med-tech conglomerate Hoya slowed production at Thai factory by 60 percent

Japanese manufacturer Hoya temporarily shut down production at a factory in Thailand in February following a cyberattack, the company said. Roughly 100 computers were infected with malicious software that stole user credentials, then tried to install a program that would co-opt those machines into mining for cryptocurrency. The company detected the attack before the cryptojacking software took hold, though the initial stage of the attack caused output to drop by 60 percent, Hoya said Saturday. The news first was reported by local outlets including Kyodo News and The Japan Times. Hoya had yet to completely recover from the attack by the end of March, though one executive the attack would have “little” impact on business, according to The Japan Times. Reports have not specified what type of cryptocurrency the attackers were mining. Tokyo-based Hoya produces lenses, imaging devices, medical equipment and other technology. It has a $21.6 billion market capitalization, according to Forbes, […]

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Alibaba has acquired Teambition, a China-based Trello and Asana rival, in its enterprise push

Alibaba has made an acquisition as it continues to square up to the opportunity in enterprise services in China and beyond, akin to what its US counterpart Amazon has done with AWS. TechCrunch has confirmed that the e-commerce and cloud services giant has acquired Teambition, a Microsoft- and Tencent-backed platform for coworkers to plan and collaborate […] Continue reading Alibaba has acquired Teambition, a China-based Trello and Asana rival, in its enterprise push

Facebook links Duterte campaign volunteer to 200 bogus accounts

Facebook says it has removed another 200 pages for misleading users about who was behind the content and for misrepresenting what the pages were supposed to achieve. This time the pages, groups and accounts were located in the Philippines. Facebook has tied the activity to a network organized by Nic Gabunada, a businessman who said he managed social media for Philippine President Rodrigo Duterte during his 2016 campaign. A bulletin published Thursday is the latest such update from the company, which in recent weeks has removed accounts from Iran, Russia, Moldova and elsewhere for “coordinated inauthentic behavior.” Facebook’s moves have been closely watched by political organizations, intelligence agencies, law enforcement and other entities with an interest in election security or information operations. The identification of Gabunada, former chief executive of Omnicom Media Group Philippines, marks a departure for Facebook, which says it removes accounts based on their behavior, but that it doesn’t have the capability […]

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Kong raises $43M Series C for its API platform

Kong, the open core API management and lifecycle management company previously known as Mashape, today announced that it has raised a $43 million Series C round led by Index Ventures. Previous investors Andreessen Horowitz and Charles River Ventures (CRV), as well as new investors GGV Capital and World Innovation Lab also participated. With this round, […] Continue reading Kong raises $43M Series C for its API platform

Latest Pakistan bank-card fraud looks like an actual breach, researchers say

A spike in payment-card fraud in Pakistan over the past six months now appears to involve a possible breach of at least one bank’s internal systems, according to researchers with New York-based threat intelligence company Gemini Advisory. Previous reports — including research by Moscow-based cybersecurity company Group-IB — had noted two major dumps of Pakistani payment-card data on the dark web market Joker’s Stash in October and November, as well as further sales in January of this year. Gemini Advisory says it now appears that the card-information dumps point to a more aggressive level of hacking beyond point-of-sale attacks. “While fraudsters generally acquire card and PIN data with card skimmers and cameras or overlays, the January 24 and January 30, 2019 breach included such data in large quantities pertaining to a single bank – Meezan Bank Ltd.,” Gemini Advisory says. “Gemini analysts therefore assess with moderate confidence that the compromised records posted […]

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