English
繁體中文
简体中文
Is your digital life secure?
What are the cyber threats being faced by today’s businesses? In this video, Diana Robinson, Head of investments for Asia, looks at the latest developments and provides advice on a simple but often overlooked protective principle.
Audio Description
View Transcript
Meet the Panelists
With nearly 20 years of industry experience, Hannah Qiu has acquired a deep understanding of how artificial intelligence and big data can improve financial services.
After starting her career at General Electric’s Global Decision Sciences Center, she worked for top institutions including McKinsey, Temasek and Standard Chartered Bank, serving in key positions as Director of Innovation, Chief Technology Officer and Chief Data Officer.
Ms. Qiu joined Ping An Group in 2014 and founded its ‘Gamma Lab’ whose aim is to promote the wider application of cutting-edge technologies within the financial sector. With comprehensive knowledge of China’s financial industry and strategic insights in Fintech innovation, she has effectively led teams to build core capabilities in research and technology application.
Recognized within the field as Ping An’s “Big Data Scientist,” her teams have applied for over 200 patents, and launched a number of innovative AI field applications that are at the forefront of Fintech at home and abroad.
Under her current leadership, OneConnect and Qianhai Credit Bureau have achieved explosive growth and earned a myriad of awards from industry peers such as the China Internet Financial Innovation Award, the Annual FIntech Company Award, the Comprehensive Financial Services Award, and the Best Innovative Fintech Company Award. In 2016, she was the recipient of the Lujiazui Financial Innovator Award.
Hannah Qiu
Co-General Manager, Ping An OneConnect
Jennifer DeTrani is General Counsel/EVP at Nisos Inc., a cybersecurity company providing Fortune 1000 companies with an active defense against cyber threats using state-of-the-art tradecraft and technology.
Prior to joining Nisos, Ms. DeTrani co-founded a secure messaging company, Wickr Inc., where she served as General Counsel for five years and continues to serve as Special Advisor. She has practiced law as an Assistant U.S. Attorney, run her own law practice, and began her legal career at a major law firm.
Ms. DeTrani attended Michigan Law School and Dartmouth College.
Jennifer DeTrani
General Counsel/EVP, Nisos Inc.
Peter Alexander is Check Point's Chief Marketing Officer and manages all branding, operational and strategic marketing for the company.
Prior to joining Check Point, Mr. Alexander served as CMO at Harmonic Inc., the global leader in video delivery infrastructure, and he also spent 15 years in senior marketing roles at Cisco Systems Inc. He began his career as a software engineer at ROLM Corporation.
Mr. Alexander holds B.Eng in Electrical and Electronic Engineering from Bradford University (UK) and an MBA from U.C. Berkeley.
Peter Alexander
Chief Marketing Officer, Check Point Software Technologies
Diana Robinson is a Managing Director and Head of Investments and Advice at J.P. Morgan Private Bank in Asia. She leads a team in delivering portfolio management and advisory services for clients with assets across equities, fixed income and alternative investments.
Before holding a similar role in Southeast Asia, Ms. Robinson managed the Equities team based in London. This team comprises professionals who advise clients on the outlook for equity markets globally as well as being responsible for equity trading, syndicate, structured products and mutual funds.
Ms. Robinson re-joined the firm in 2015, having worked before as Head of U.S. Equities at the Investment Bank in London. Between stints at the bank, she managed her own financial services consulting firm, contracting with a broad range of clients, with a particular interest in Social Finance and Sustainability.
In addition, she is a certified Business Coach with a focus on women in finance. Ms. Robinson has spent the first part of her career working in New York, the second part working in London, and is delighted to have the opportunity to spend the third part in Asia.
Diana Robinson
Head of Investments and Advice for Asia, J.P. Morgan Private Bank
The Cybersecurity Marathon Has Only Just Begun - Transcript
[Music]
Diana: I’ve just completed moderating the cyber security panel at J.P. Morgan Tech Exchange. On the panel we had three industry experts, two are providers of cyber security solutions, and one is a user of cyber security solutions.
So I have three key takeaways. Number one, it was quite astonishing to hear just how unprepared these experts think we are. One of the panellists who is working for a company that is a leading provider in the industry for a long time has noted that we’re in the fifth generation of cyber attacks, and we’re probably prepared for generation two, maybe three. So that was, I think, actually quite a takeaway for the whole audience and everyone walked away thinking people are a lot more complacent than they should be.
That said, there’s a lot of money being spent in this industry and the size of the marketplace we reckon is around 300 billion in the next couple of years, which is a pretty fast growth rate. However, the amount of money that people are spending on cyber security and cyber safety is nothing like the physical asset security, and that’s really a mismatch. And so there’s a tremendous investment opportunity as more dollars go into solving this problem, and that’s globally.
And then the third was we really tried to drill down a little bit on what kind of investment opportunities there did exist. There are something like 2,600 software companies looking at the cyber security space so how do you choose amongst all of this choice? That’s quite tricky because there is so much choice and there’s a lot of money from venture capitalist firms at the moment going into a lot of new startups. That said, all of the industry participants agreed that if a company has a critical software solution, if they have evidence of that by having some very key recognisable customers, and the threat is acute, in other words time to market is important, that that is a very valuable company.
X
Read these three figures; they are thought-provoking:
The Cybersecurity Marathon
Has Only Just Begun
He says we have now reached the fifth generation of cyber-attack.
“The first generation was viruses, then came network security and network attacks,” he says.
Following that, “application vulnerabilities“ were targeted, then the payload within email and applications – effectively “the way applications pass files around.“
Finally, starting in about 2017 the fifth generation arrived, with so-called “mega attacks” like WannaCry and NotPetya.
With the last of these attacks, the response is particularly challenging because the malware changes every time it replicates.
Worryingly, Alexander believes that most organizations are well behind where they need to be.
“The average organization is only really protected to about the third generation technologies,” he says.
The Fifth Generation of Attacks
Many of us get peace of mind from storing important documents and files in the cloud. However, we don’t always understand what that entails.
“There is a lot of confusion about how secure the cloud is,“ says Alexander.
But what was perhaps more surprising is that many may not realize, but the greatest risk to your cyber security may actually be in your hands.
We see people actually using AI to fake someone's face, to attack the software
Hannah Qiu
Co-General Manager
Ping An OneConnect
Your mobile risk
The evolving threat of IoT, Smart cities and the Cloud
Hannah Qiu is Co-General Manager of OneConnect Smart Technologies (a Ping An subsidiary). In her view, the cybersecurity of our mobile phones is currently “relatively amateur. “
Given the prevalence of smartphones in our lives today– and the plethora of applications–it should be no surprise that they are a target for hackers.
In China, where mobile payments were widespread well before they were in the West, the implications can be huge.
“If someone can hack into your mobile accounts, they can transfer small amounts of money for a long time without people noticing,“ she says.
Furthermore, attackers are becoming more and more savvy even as security technology appears to improve.
“We see people actually using AI to fake someone's face, to attack the software,“ she says.
Peter Alexander shares Qiu’s concerns.
“There is a huge relaxedness about mobile security,“ he says. “Clearly, mobile security is going to go from one on the scale to eight or ten on the scale, and it's going to happen really soon.“
And the reality is that everyone is at risk. Alexander pointed out that even some of the largest names in the industry, with large IT spends and sophisticated cybersecurity have had their phones hacked.
While there is a lot to be wary of, we can take some comfort in knowing that certain governments are giving serious consideration to the protection of personal data.
We need to move beyond the idea of cybersecurity as a solid end state
Jennifer DeTrani
General Counsel/EVP
Nisos Inc.
While it’s easy to get excited about the potential for AI, it is important to remember that given data is the key ingredient, security and responsibility are also vital.
Today without trust, you don't have any business.
Alain Crozier
Corporate Vice President, Chairman and Chief Executive Officer of Microsoft (China)
Greater China Region
Preparation and planning
With data comes responsibility
It's actually called intellectual curiosity.
Simon Loong
Founder and Chief Executive Officer
WeLab
He considers our increasing reliance on cloud computing to be a major vulnerability in organizations. He also points to the fact that our data may not be as safe as we think, given that many of the major cloud providers do not make assurances on protection.
“They'll protect their infrastructure, but your data is up to you,“ he says.
The rapid development of the Internet of Things (IoT) and the prospect of Smart, internet-connected cities, is undoubtedly exciting. However, with internet connectivity comes the potential for attack.
Jennifer DeTrani says that the rollout of 5G is “huge” for cybersecurity - and has particular concerns about the diversity of software that facilitates these new capabilities.
“You connect to the IoT through an app, and that app may not be properly vetted,” she says.
Indeed, Peter Alexander sees a looming “sixth generation” of cyber-attacks in IoT and smart cities.
“It's two things,” he says. “...protecting the IoT itself; your devices and systems from attack. And then also protecting you from those systems.“
“You don't really become a modern company because you have one or two applications that are AI run,” says Saxena. “You need to really build your structure, because the real value will be when you start attacking your core business processes.”
The Cybersecurity Marathon
Has Only Just Begun
Diana Robinson
Head of Investments and Advice for Asia
J.P. Morgan Private Bank
Adapting to
an AI Future
Adapting to
an AI Future
繁體中文
简体中文
English
A Global Entrepreneur’s Journey
The Retail
Revolution
HealthTech
Video in Demand
24/7
The Display of
the Future
Leading
Digital Bank
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
A Technology
Renaissance
Unpacking the
Technological
Cold War
The Future is
Electric
COMING
SOON
COMING
SOON
Adapting to
an A.I. Future
COMING
SOON
COMING
SOON
Artificial
Intelligence of
Things (AIoT)
COMING
SOON
COMING
SOON
Protecting
Your Data
COMING
SOON
COMING
SOON
Is your digital life secure?
What are the cyber threats being faced by today’s businesses? In this video, Diana Robinson, Head of investments for Asia, looks at the latest developments and provides advice on a simple but often overlooked protective principle.
Diana Robinson
Head of Investments and Advice for Asia
J.P. Morgan Private Bank
Audio Description
View Transcript
Close Transcript
A New Drive - Transcript
[Music]
Virginia Fang: How the automotive industry, a 3.5 trillion industry, is undergoing a radical transformation.
China is and will lead the way, and it is expected that by 2025 China's EV penetration will be up to, or close to 20 percent.
The panel addressed several points as to why China is going to be leading the EV market penetration.
One obviously is the strong policy commitment, so even though they announced recent subsidy cuts, the panellists felt that the subsidy cuts were positive for the industry as it favours the middle segment versus the lower tier segment.
The second point that the panellists addressed was the strong consumer demand from the generation born in the '90s.
The panellists mentioned that they're not only tech savvy, they're open to change and not afraid to adopt new idea.
This generation's are also converging with their US and European counterparts, and the panellists also mentioned that this generation is looking to the car almost as a smart device.
Another point that the panellists pointed out was that despite technological advances in battery range and density China is already able to produce EVs with a range of up to 600 kilometres, which is competitive to the traditional cars manufactured today.
And finally with the EV revolution here to stay copper, cobalt and nickel is the new oil of EV cars.
X
Meet the Panelists
As Co-Portfolio Manager of Emerging Market Themes, Simon Henry manages equity assets on behalf of his clients, focusing on investment opportunities that arise from structural changes happening in the Emerging Markets and drawing on research from Wellington Management’s global industry analysts, equity portfolio managers and team analysts.
Prior to joining Wellington Management in 2008, Mr. Henry spent five years at Russell Investment Group in London (2003–2008), where he worked as a Portfolio Analyst and then as a Currency Research Analyst on the Global Fixed Income team, both in the Investment Management and Research departments.
Mr. Henry has a master’s degree in Materials, Economics and Management from St. Anne’s College, Oxford University (2003). Additionally, he holds the Chartered Financial Analyst® designation and is a member of the CFA Institute.
Simon Henry
Managing Director and Portfolio Manager, Wellington Management
Dr. Brian Gu is Vice Chairman and President of XPENG Motors, a leading electric vehicle company in China. He is responsible for XPENG’s strategy, finance, fundraising, investments and globalization efforts.
Prior to joining XPENG, Dr. Gu was a Managing Director, Chairman of Asia Pacific Investment Banking and a member of J.P. Morgan’s Global Strategic Advisory Council, and was instrumental in building J.P. Morgan’s franchise in the Asia Pacific Region. Between 1998 and 2004, Dr. Gu also served as an M&A Banker at Lehman Brothers in New York.
Dr. Gu has advised numerous global leading companies on their strategies and landmark transactions totaling over $200 billion. He currently serves as a Co-Chairman of J.P. Morgan’s Asia Pacific Council. He is a member of the Greater China Advisory Committee of Yale School of Management, as well as a Trustee of Yale China Association.
Dr. Gu holds an M.B.A. from Yale University, a Ph.D. in Biochemistry from the University of Washington Medical School, and a bachelor’s degree in Chemistry from the University of Oregon.
Dr. Brian Gu
Vice Chairman and President, XPeng Motors
For more than 25 years, international financier Robert Friedland has been recognized by leaders of the international financial sector and mineral resource industries as an entrepreneurial explorer, technology innovator and company builder. Mr. Friedland has successfully developed a portfolio of respected public and private companies whose initiatives have led to several of the world’s most significant mineral discoveries and mine developments, applications of disruptive technologies and contributions to significant economic growth in established and emerging markets in Asia, the Asia Pacific Region, Sub-Saharan Africa and the Americas.
Mr. Friedland’s enterprise and leadership gained prominent, industry recognition in January 2016 when he was inducted into the prestigious Canadian Mining Hall of Fame. The citation acknowledged his company-building and exploration achievements, honouring him as “a dynamic, transformative force in the Canadian and international mining industries” and “one of the most recognized mining personalities and achievers in the world”. Mr. Friedland said at the ceremony that he shared the honour with several teams of dedicated individuals whose efforts with his companies during the past 30 years had contributed to a series of notable discoveries and new mines. Housed at the University of Toronto, the Hall of Fame is featured in the Treasures from Earth galleries at the Royal Ontario Museum, Toronto.
In April 2017, the Northern Miner, the century-old flagship of Canada’s leading mining-industry media group, announced that Mr. Friedland would receive a Lifetime Achievement Award at the Canadian Mining Symposium held at Canada House in London, England. This followed the U.K-based Mining Journal’s successive rankings of Mr. Friedland in 2016 and 2015 as one of the Top 20 Most Influential People shaping the future of the world of mining, declaring him “the undisputed king of junior development.” Also in 2016, Canada’s Financial Post magazine named Mr. Friedland one of 25 members of its inaugural Power List — termed “the biggest, buzziest and most influential movers and shakers in Canada and beyond”.
He graduated from Reed College with an undergraduate degree in Political Science.
Robert Friedland
Founder and Chairman, Ivanhoe Capital Corporation, Co-Chairman, Clean TeQ
Jinglei (Ramon) Cheng is currently Chairman and a Member of the Board of China Operation, CANOO and Partner and President AGRC (PE Fund).
Prior to this Mr. Cheng had a long and distinguished career at SAICMOTOR where he held positions including Chief Technology Officer responsible for strategy, technology, IT and Big Data, Chairman of SAICMOTOR VC and Innovation Center in Silicon Valley and Chairman of Dalian Sunrise Power. Mr. Cheng started his career with Volkswagen where he was Division Manager across multiple departments.
Jinglei (Ramon) Cheng
Member of Board and Chairman of China Operation, CANOO
The Fifth Generation of Attacks
The European Union’s General Data Protection Regulation (GDPR) is one of the most influential instances of data privacy regulation. In addition to setting strict requirements on the ability of organizations to mass-distribute digital material, the regulation has also focused attention on the physical infrastructure behind the services we use.
“The GDPR has talked about where data can be located,” explains Alexander. “If you use the cloud, where is your data exactly? Where is the data center physically?”
By thinking practically and methodically about cybersecurity, the threat diminishes, says DeTrani, who says we should be approaching this space in the same way that aviation companies approach safety.
“The reason air travel is so safe is because you have backup plan upon backup plan for the failure of every system,“ she says.
“We need to move beyond the idea of cybersecurity as a solid end state,“ she says.
“The idea is that you're constantly trying to chase down the threats and address them day-to-day - and you're doing it through a hacker mentality. “
So the marathon has only just begun.
The estimated cost to the U.S. economy of malicious cyber activity in 2016[1]
US$110 billion
The expected size of the cybersecurity market by 2024[2]
US$300 billion
The record cybersecurity Venture Capital investment in 2018[3]
US$5.3 billion
As a starting point, it is worth recognizing that the advent of more sophisticated technology allows cyber-attacks to grow in sophistication.
Peter Alexander is the Chief Marketing Officer at Check Point, a cybersecurity company that listed on the NASDAQ at US$67 million in 1996, and is now worth over US$20 billion[4].
The estimated cost to the US economy of malicious cyber activity in 2018
US$110 billion
The estimated cost to the US economy of malicious cyber activity in 2018
US$110 billion
Most people associate cybersecurity with software packages on their personal computers, but in our increasingly interconnected digital environment, the scope is in fact far broader. This article is based on insights shared at a panel discussion at the 2019 J.P. Morgan Tech Exchange, and aims to shed light on the new technologies driving cybersecurity, the new initiatives being used to tackle threats, and the investment opportunities that are flowing from this booming sector.
Read these three figures; they are thought-provoking:
Most people associate cybersecurity with software packages on their personal computers, but in our increasingly interconnected digital environment, the scope is in fact far broader. This article is based on insights shared at a panel discussion at the 2019 J.P. Morgan Tech Exchange, and aims to shed light on the new technologies driving cybersecurity, the new initiatives being used to tackle threats, and the investment opportunities that are flowing from this booming sector.
[1]Source: The Cost of Malicious Cyber Activity to the U.S. Economy, The Council of Economic Advisers, February 2019.
[2]Source: Global Market Insights, Inc. Data as of January 2019.
[3]Source: Strategic Cyber Ventures, January 16, 2019.
[4]Source: Bloomberg. Data as of May 4, 2019.
So who are these attackers?
Alexander believes that the vast majority of cybercriminals are relatively “rudimentary technologists.“
“They just have access to good tools that they’ve usually found through the dark web.“
Identifying the culprits
Jennifer DeTrani, General Counsel for Nisos, a cybersecurity company that advises Fortune 1000 companies on protection, says that many of today’s most dangerous attacks are difficult to combat, as they come from within.
“We're really looking at a lot of insider threats,“ she says.
“You've got the nefarious bad actors who are trying to get back at an organization and create some sort of revenge.“
They just have access to good tools that they’ve usually found through the dark web.
Peter Alexander
Chief Marketing Officer
Check Point Software Technologies
So what does protection look like?
A fundamental element is password management, says Alexander. Too many people have passwords that are very simple to predict.
“People need to come up with some personal methodology of building passwords,“ he says. “You can’t have the same password for everything.“
Beyond this, the arrival of blockchain technology may also provide a more powerful tool. In this scenario, the entirety of our personal data could live within a personal blockchain.
Another tip on cyber-protection is to be mindful about the information you provide.
As Jennifer DeTrani stresses, everyday retailers don’t have automatic rights to collect personal details such as your email address or date of birth.
“That's not something I'm willing to trade off to get a free punch card for an extra frozen yogurt.“
People need to come up with some personal methodology of building passwords
Hannah Qiu
Co-General Manager
Ping An OneConnect
Protecting your mobile phone
[1]Source: The Cost of Malicious Cyber Activity to the U.S. Economy, The Council of Economic Advisers, February 2019.
[2]Source: Global Market Insights, Inc. Data as of January 2019.
[3]Source: Strategic Cyber Ventures, January 16, 2019.
[4]Source: Bloomberg. Data as of May 4, 2019.
But what was perhaps more surprising is that many may not realize, but the greatest risk to your cyber security may actually be in your hands.
Hannah Qiu is Co-General Manager of OneConnect Smart Technologies (a Ping An subsidiary). In her view, the cybersecurity of our mobile phones is currently “relatively amateur. “
Given the prevalence of smartphones in our lives today– and the plethora of applications–it should be no surprise that they are a target for hackers.
In China, where mobile payments were widespread well before they were in the West, the implications can be huge.
“If someone can hack into your mobile accounts, they can transfer small amounts of money for a long time without people noticing,“ she says.
Furthermore, attackers are becoming more and more savvy even as security technology appears to improve.
“We see people actually using AI to fake someone's face, to attack the software,“ she says.
Peter Alexander shares Qiu’s concerns.
“There is a huge relaxedness about mobile security,“ he says. “Clearly, mobile security is going to go from one on the scale to eight or ten on the scale, and it's going to happen really soon.“
And the reality is that everyone is at risk.
“Jeff Bezos runs the largest cloud service in the world and he’s got a zillion dollars in IT spending and cybersecurity,“ says Alexander. “But his phone wasn't secure.“
So what does protection look like?
A fundamental element is password management, says Alexander. Too many people have passwords that are very simple to predict.
“People need to come up with some personal methodology of building passwords,“ he says. “You can’t have the same password for everything.“
Beyond this, the arrival of blockchain technology may also provide a more powerful tool. In this scenario, the entirety of our personal data could live within a personal blockchain.
Another tip on cyber-protection is to be mindful about the information you provide.
As Jennifer DeTrani stresses, everyday retailers don’t have automatic rights to collect personal details such as your email address or date of birth.
“That's not something I'm willing to trade off to get a free punch card for an extra frozen yogurt.“
They just have access to good tools that they’ve usually found through the dark web
Peter Alexander
Chief Marketing Officer
Check Point Software Technologies
Identifying the culprits
But what was perhaps more surprising is that many may not realize, but the greatest risk to your cyber security may actually be in your hands.
Hannah Qiu is Co-General Manager of OneConnect Smart Technologies (a Ping An subsidiary). In her view, the cybersecurity of our mobile phones is currently “relatively amateur. “
Given the prevalence of smartphones in our lives today– and the plethora of applications–it should be no surprise that they are a target for hackers.
In China, where mobile payments were widespread well before they were in the West, the implications can be huge.
“If someone can hack into your mobile accounts, they can transfer small amounts of money for a long time without people noticing,“ she says.
Furthermore, attackers are becoming more and more savvy even as security technology appears to improve.
“We see people actually using AI to fake someone's face, to attack the software,“ she says.
Peter Alexander shares Qiu’s concerns.
“There is a huge relaxedness about mobile security,“ he says. “Clearly, mobile security is going to go from one on the scale to eight or ten on the scale, and it's going to happen really soon.“
And the reality is that everyone is at risk. Alexander pointed out that even some of the largest names in the industry, with large IT spends and sophisticated cybersecurity have had their phones hacked.
People need to come up with some personal methodology of building passwords
Peter Alexander
Chief Marketing Officer
Check Point Software Technologies
Protecting your mobile phone
Imagining the Next Marketplace
The Staggering Potential
of the AIoT
China + Internet + Entertainment
Video in Demand
24/7
Leading
Digital Bank
Leading
Digital Bank
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
COMING
SOON
A Technology
Renaissance
Unpacking the
Technological
Cold War
The Future is
Electric
COMING
SOON
COMING
SOON
Preparing for
our AI Future
COMING
SOON
COMING
SOON
The Display of
the Future
COMING
SOON
COMING
SOON
The Cybersecurity Marathon Has Only Just Begun
COMING
SOON
COMING
SOON
A Technology Renaissance
Unpacking the Technological
Cold War
The Future is Electirc
Preparing for our AI Future
The Display of the Future
The Cybersecurity Marathon Has Only Just Begun
Imagining the Next marketplace
The Staggering Potential of the AIoT
China + Internet + Entertainment
Video in Demand 24/7
The Leading Digital Bank
The Leading Digital Bank
