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Study Finds More than Half of Companies Use AI, IoT in their Business Processes in META
A recent Kaspersky study has revealed that more than 50% of companies surveyed have implemented Artificial Intelligence (AI) and Internet of Things (IoT) in their businesses’ infrastructures. Additionally, 33% are planning to adopt these interconnected technologies within two years.
In the Middle East, Turkiye and Africa (META) region, 55% of respondents have implemented AI and 34% are planning to do so, while IoT are used in 44% of organisations with 45% planning to use them. Business owners must ensure they have the right caliber of cybersecurity solutions to secure them, experts recommend.
Interconnected technologies are the growing network of devices, systems and applications connected to the Internet and each other.
They transform enterprises, enabling them to gather more data and automate processes. But they also bring new risks and challenges when securing business assets and safeguarding customers.
Kaspersky conducted a study ‘Connecting the future of business’, which aims to help companies stay ahead of the changes interconnected technologies bring, posing critical questions regarding the way cybersecurity must adapt to them.
For this purpose, the company surveyed 560 senior IT security leaders from North America, Latin America, Europe, Middle East, Turkiye and Africa, Russia and Asia-Pacific.
In this survey, Kaspersky sought to examine what respondents think of the following interconnected technologies:
- Artificial Intelligence (AI),
- Internet of Things (IoT),
- Augmented reality (AR), Virtual reality (VR) and digital twins,
- 6G and converged cloud networks,
- Web 3.0 which enables decentralised applications, blockchain smart contracts and user-managed data,
- Data spaces that enable seamless data sharing in collaborative settings.
The research found that AI and IoT are already used by 54% and 51% of companies respectively (55% and 44% in the META region). One in three plans to adopt them within two years (in META 34% plan to use AI and 45% IoT). Data spaces are used by 32% of businesses, with nearly half (49%) intending to adopt them in the near future (the figures are 34% and 45% in META).
Other interconnected technologies (digital twins, AR, VR, web 3.0, 6G and converged cloud networks), are used by only one in five (20-21%) companies participating in the survey, but more than 70% are considering integrating them into their business processes soon. The figures are similar in the META region, with just 6G and converged cloud networks being a bit different – 18% of respondents already use them, 80% have them in plan.
Because AI and IoT have become so widespread, they are vulnerable to new vectors of cyberattacks. According to the research, 16-17% of organisations think AI and IoT are ‘very difficult’ or ‘extremely difficult’ to protect (18% and 16% in META), while only 8% of the AI users and 12% of the IoT owners believe their companies are fully protected (9% and 14% in META).
However, as we can see, the less widespread the implementation of technologies, the more difficult it is for companies to protect them and vice versa.
For instance, the least adopted AR/VR and converged cloud networks, are the most challenging technologies to protect in terms of cyber defense, with 39-40% of companies saying they are difficult to secure (37-38% in META).
“Interconnected technologies bring immense business opportunities but they also usher in a new era of vulnerability to serious cyberthreats. With an increasing amount of data being collected and transmitted, cybersecurity measures must be strengthened.
“Enterprises must protect critical assets, build customer confidence amid the expanding interconnected landscape, and ensure there are adequate resources allocated to cybersecurity so they can use the new solutions to combat the incoming challenges of interconnected tech.
“Businesses integrating AI and IoT into their infrastructure need to protect it with Container Security and Extended Detection and Response solutions, to detect cyberthreats at early stages and provide effective defense,” comments Ivan Vassunov, VP, Corporate products, Kaspersky.
Given the scale of change that interconnected technologies is likely to bring, organisations must develop a strategy to implement and protect them. Based on the research findings, Kaspersky recommends four effective ways to ensure organisations are prepared to protect interconnected technologies:
- Adopt secure-by-design principles. By integrating cybersecurity into each stage of the software development lifecycle, secure-by-design software and hardware become resilient against cyberattacks, contributing to the overall security of digital systems.
Cyber Immune solutions based on KasperskyOS, for instance, allow companies to minimise the threat surface and significantly decrease the ability of cybercriminals to perform a successful attack.
- Train and upskill your workforce. Building a cyber-aware culture requires a comprehensive strategy that empowers employees to gain knowledge and put it into practice. With Kaspersky Expert training, InfoSec professionals can advance their skills and defend their companies against attacks.
- Upgrade your cybersecurity solutions and use centralised and automated platforms such as Kaspersky Extended Detection and Response (XDR). As companies adopt interconnected technologies, they need cybersecurity solutions with more advanced features, enabling them to collect and correlate telemetry from multiple sources and provide effective threat detection and rapid automated response.
As many AI solutions are built on containers, it’s important to secure the infrastructure they are integrated in with cybersecurity products – such as Kaspersky Container Security – that allows companies to detect security issues at every stage of the app lifecycle, from development to operation.
- Meet regulations to avoid legal problems or reputational damage, by ensuring your cybersecurity practice meets changing standards and legal requirements.
This holiday season just got a whole lot more exciting! PalmPay, one of Africa’s leading fintech platforms, operates Nigeria’s most used mobile wallet and has teamed up with Jumia, the continent’s e-commerce giant, to launch a festive campaign that’s all about convenience, rewards, and enhancing your shopping experience.
Running from December 11th to 28th, 2024, this holiday campaign is set to reward shoppers who use the new “Pay with PalmPay” feature on Jumia with cash prizes. Every purchase made using the direct payment method automatically enters participants into a draw, giving them a chance to win exciting cash rewards while enjoying the seamless shopping and payment process.
A Strategic Partnership To Enhance Digital Payments
The integration of the “Pay with PalmPay Wallet” feature on Jumia marks a major milestone in the partnership between the two industry leaders.
Speaking at the media announcement, Mr. Chika Nwosu, Managing Director of PalmPay, highlighted the broader mission driving this collaboration: “We are thrilled to join forces with Jumia to redefine convenience for shoppers. At PalmPay, our mission has always been to drive economic empowerment through accessible and user-friendly financial services. This partnership is a natural step forward in achieving that goal.”
Beyond the holidays, this partnership with Jumia m,k is a signal of bigger things to come. Mr. Chika added: “This is more than just about payments—it’s about creating value for our customers. We are excited about the opportunities this partnership will unlock in 2025, including campaigns and innovative initiatives that will further transform the online shopping landscape.”
Sunil Natraj, CEO of Jumia Nigeria, highlighted the shared vision between both companies, stating: “At Jumia, we are dedicated to creating value for our customers by ensuring a convenient, reliable, and secure shopping experience. This partnership with PalmPay strengthens our commitment to enhancing the digital payments within our platform. By integrating PalmPay, we are providing more options for customers to access affordable and quality goods with the convenience of cashless transactions.”
How to Join the Holiday Fun
Participating in the campaign is simple. When shopping on Jumia, select the “Pay with PalmPay” option at checkout, and your entry into the draw is automatic. It’s that easy!
Bonus Entry: Share a screenshot of your purchase on X (formerly Twitter) using the hashtag #PalmPayXJumia to increase your chances of winning. Additional winners will be selected from participants engaging with the campaign on Twitter.
Whether you are shopping for gifts, or gadgets this festive season, PalmPay and Jumia are making sure your experience is not only seamless but also rewarding.
To learn more about the campaign, stay tuned to the official X accounts (formerly Twitter) of @palmpay_ng and @JumiaNigeria. for updates, announcements, and more chances to win.
Independent Corrupt Practices and Other Related Offenses Commission (ICPC), has revealed that none of the Ministries, Departments, and Agencies (MDAs), in the country complied fully with ethical standards, policies, and anti-corruption measures in the passing year.
This was following the findings from the Commission’s Ethics and Integrity Compliance Scorecard (EICS) for the MDAs.
The Commission warned that henceforth, non-compliant MDAs will face necessary actions, including enforcement, to ensure adherence to government directives.
According to the EICS scorecard released on Thursday in Abuja by Demola Bakare, ICPC spokesperson, no MDA out of 330 MDAs that were assessed through physical deployment by ICPC teams achieved full compliance.
The EICS serves as a preventive tool used to assess and enhance the compliance of MDAs with ethical standards, policies, and anti-corruption measures.
Findings from the report indicated that no MDA achieved full compliance, while 29.55 per cent of MDAs captured attained substantial compliance, and 51.62 per cent had partial compliance.
The report also observed that 15.91 per cent showed poor compliance, while 292 per cent were non-compliant.
According to the report, common gaps included a lack of whistle-blower policies, strategic plans, and effective stock verification units, adding that many MDAs failed to conduct any forms of system studies or render financial and audit reports.
Commenting on the report, Bakare noted: “This year, 2024, the tool covered 323 responsive MDAs, with 15 MDAs non-responsive and categorised as high corruption risk.
“It is imperative to inform you that this initiative has yielded some positive and value-driven impacts, and these are, but not limited to, increased awareness and compliance with anti-corruption measures, enhanced competition among MDAs to meet criteria, and improved procurement processes and data reliability.
“The Commission recognises the MDAs with substantial compliance and will continue deploying these tools to promote integrity and accountability.
“Non-compliant MDAs will face necessary actions, including enforcement, to ensure adherence to government directives. We are certain that these efforts will continue to underline ICPC’s dedication to enhancing good governance and preventing corruption.”
Dangote Petroleum Refinery and Petrochemicals (DPRP) has dismissed claims that the Nigerian National Petroleum Company Limited (NNPCL) used a $1 billion loan secured through a crude forward sale agreement to support the refinery during a liquidity crisis.
In a statement on Wednesday, Anthony Chiejina, company’s chief branding and communications officer, said the NNPCL’s stance was a distortion of the facts.
“We would like to clarify that this is a misrepresentation of the situation as $1bn is just about 5% of the investment that went into building the Dangote Refinery,” Chiejina said.
Chiejina stated that the refinery’s decision to enter into a partnership with the NNPCL was based on the recognition of “their strategic position in the industry as the largest offtaker of Nigerian crude” and at the time, the sole supplier of petrol into Nigeria.
“We agreed on the sale of a 20% stake at a value of $2.76 billion. Of this, we agreed that they will only pay $1 billion while the balance will be recovered over a period of 5 years through deductions on crude oil that they supply to us and from dividends due to them,” Chiejina said.
“If we were struggling with liquidity challenges we wouldn’t have given them such generous payment terms. As at 2021 when the agreement was signed, the refinery was at the pre-commission stage.”
According to the statement, the agreement would have been cash-based rather than credit-driven if the refinery struggled with liquidity issues.
The refinery’s spokesman said the NNPCL was subsequently unable to supply the agreed 300,000 barrels a day of crude (bpd).
He stated that the shortfall was because the NNPPC “had committed a greater part of their crude cargoes to financiers with the expectation of higher production which they were unable to achieve”.
“We subsequently gave them a 12-month period for them to pay cash for the balance of their equity given their inability to supply the agreed crude oil volume,” he said.
“NNPCL failed to meet this deadline which expired on June 30th 2024. As a result, their equity share was revised down to 7.24%. These events have been widely reported by both parties,” he said.
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