AI INCIDENT REPORTING ACT
NSE rolls out direct-to-chip liquid cooling to scale AI computing capabilities; plans to scale GPU capacity beyond 80 this quarter
The NSE has deployed Direct-to-Chip Liquid Cooling technology at its on-premises data centre to support expanding AI infrastructure. The exchange plans to scale its GPU capacity to more than 80 units this quarter, with the cooling system designed to accommodate up to 224 GPUs across high-density racks.
SoftBank to face scrutiny of AI strategy at second-quarter earnings after selloff
SoftBank Group is on the brink of unveiling its quarterly earnings, navigating a turbulent landscape marked by challenges in the artificial intelligence sector and looming regulatory issues. The company's heavy investments in AI, alongside setbacks like a thwarted acquisition, have sparked skepticism among investors. Predictions indicate earnings could be highly unpredictable, with net profit estimates varying significantly, highlighting ongoing financial instability.
McKinsey warns AI-driven analysis could slow decision-making, weaken future leadership pipeline
As artificial intelligence evolves, it accelerates business analysis, posing new challenges for decision-makers. The rapid generation of insights can overwhelm leaders, creating strategic risks, as highlighted by McKinsey. Their findings stress that while analysis speeds up, human judgment remains vital for decision-making. To thrive, organizations must enhance their capacity for human oversight, ensuring a balance between AI advantages and critical executive judgment in strategic operations.
Nvidia opens probe into CEO Jensen Huang over affair with woman suspected of spying for China
Nvidia has launched an independent probe into CEO Jensen Huang over an affair with a Chinese executive suspected by US intelligence of working for Beijing. Huang admitted to being unfaithful and apologised. The investigation will examine potential national security risks and possible exposure of company secrets.
Under attack, banks bolster cyber covers, opt for higher sum assured to protect against hits
For large financial institutions, the biggest impact often is the loss arising from systems remaining unavailable after an attack, rather than the immediate cost of the breach. Besides business interruption, ransomware, data theft, cyber extortion and third-party liabilities are among the key risks.
Bitcoin trades near $76K, Ethereum at $2,240 as tech selloff, strong US jobs data weigh on crypto markets
Bitcoin hovered near $76,000 and Ethereum around $2,240 as technology stock weakness, AI spending concerns and US crypto legislation uncertainty weighed on sentiment. Despite modest daily gains, major cryptocurrencies remained under weekly pressure, with ETF outflows, macroeconomic data and market volatility influencing investor appetite.
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Man found a note in his kitchen. Now he’s suing OpenAI over what ChatGPT allegedly told his wife
A North Carolina man says he found a note that made him fear his wife was planning to poison him. He is suing OpenAI, alleging ChatGPT helped develop and conceal the plan.
Apple opens Siri AI to all developers: Here’s what you need to know
Apple has launched a Developer Preview of Siri AI for developers across multiple operating systems. This integration facilitates enhanced user interactions, allowing apps to utilize features like App Intents for task management and app skills for managing complex tasks. However, Siri AI remains unavailable in the European Union due to regulatory obligations, and its usage is restricted to individuals over 13 years old.
Nvidia CEO Jensen Huang called by key Republicans over Chinese spy Alice Huang allegations
Top Republican lawmakers have requested Nvidia CEO Jensen Huang to provide a briefing on his connections to Alice Huang. This request follows allegations related to national security concerns involving advanced AI chips. Lawmakers emphasized the need to address the extent of risk posed to U.S. national security. Huang's discussions with numerous executives include ordinary business information, according to Nvidia's claims.
Key Republicans seek briefing from Nvidia CEO over Chinese spy allegations
The New York Times reported last month that US authorities were investigating Alice Huang, a former executive of Singpore-based company Megaspeed, which buys AI chips from Nvidia. US authorities have scrutinized Megaspeed over suspicionsit helped Beijing gain access to advanced AI chips that are barred from shipment to China.
Carl Pei teases Nothing’s first AI-native product; says it 'couldn't have been an app'
Nothing will launch its first AI-native product in December with a focus on productivity. The chief executive, Carl Pei, provided limited details about the product’s functions. It is suggested that the product may help users capture conversations and take notes. Other companies are also exploring wearable AI devices that focus on companionship or productivity.
SBI-led banking alliance comes together to mount a defence to AI threats
Indian Banks' Association, led by State Bank of India, is developing a strategy for cybersecurity in the AI era. The initiative focuses on improving coordination among banks and facilitating timely information sharing. Increasing digitalization has expanded the potential for cyberattacks, urging immediate measures to mitigate risks.
AI-based cyber threat executing unauthorised fund transfers from banking firms: Cert-In
The Indian Computer Emergency Response Team (Cert-In) has named the incident "Crafty Falcon", which uses publicly available AI tools to execute complete attack chains autonomously at machine speed and generate and refine large numbers of tailored attack scripts in rapid succession.
Central cyber security agency warns banks, NBFCs of AI attacks; I4C reveals how hackers are executing multi-crore frauds
I4C has warned banks, NBFCs and fintech firms about AI-powered cyberattacks that enable hackers to execute fraudulent transactions at machine speed. The agency has flagged multi-crore unauthorised fund transfers, urged financial institutions to strengthen API security and directed them to report cyber incidents to CERT-In and RBI within six hours.
India cybercrime agency warns financial firms on AI attacks
"These attacks are financially motivated and are being carried out with the help of Artificial Intelligence (AI) agents leading to machine speed compromise," the Indian Cybercrime Coordination Centre said in an advisory made public on Wednesday.
AI bubble is coming, and there is no way out! Aswath Damodaran explains what investors should do before the crash begins
Valuation expert Aswath Damodaran believes an AI bubble is inevitable and investors cannot avoid its impact entirely. In a recent podcast, he traced the AI frenzy to ChatGPT's 2022 launch, which brought artificial intelligence into public consciousness. He explained how advances in computing power and access to vast amounts of data have transformed AI and fuelled today's enthusiasm.
'Chernobyl-like' blackout soon: 'Godfather of AI' predicts crisis this year or next; Nobel laureate Geoffrey Hinton warns of risks to financial markets & power systems
AI could trigger a 'Chernobyl-like' crisis this year or next, Nobel laureate Geoffrey Hinton has warned, cautioning that the technology could temporarily disrupt financial or power systems. Speaking to The Guardian, the 'godfather of AI' also criticised tech leaders Elon Musk, Mark Zuckerberg and Sam Altman for allegedly putting profits ahead of safety, while saying a catastrophe could still be averted.
Are Russia, China, Iran planning to carry out large scale cyberattacks bigger than Europe supermarket fridges hacking? Top Britain official reveals shocking details
Moscow, Beijing and Tehran have all repeatedly denied similar accusations of malevolent cyber actions in the past.
From SBI to Binance, how financial institutions are becoming cyberattack targets
Recent incidents involving cryptocurrency exchange Binance and Indian public sector lender State Bank of India (SBI) have once again put the spotlight on the issue. While Binance reported a security breach involving unauthorised cryptocurrency withdrawals estimated at around $6.3 billion, SBI is investigating a suspected data leak involving nearly 3,900 customer records.
Indian companies trust AI with greater autonomy but struggle to prove financial returns: Report
Indian companies are shifting towards AI-driven processes to enhance operational efficiency, but there's a catch. Despite the optimistic outlook from leaders regarding AI's capabilities, many are skeptical about the financial gains. A large portion of enterprises neglect to assess the monetary value of their AI investments, facing hurdles such as system integration and data coherence. It's crucial for organizations to move beyond trials and start quantifying AI’s economic impact.
Govt mulls giving Cert-In enforceable powers to mandate patching
Last month, two critical flaws in the PHP programming language, discovered with the help of AI, created worldwide panic as hackers targeted the vulnerabilities millions of times, and led to governments including the US, UK, France, Germany and Japan taking down public websites. PHP powers 69.3% of websites worldwide.
Instinct's WhatsApp scare: Glitch that cried wolf
The incident has also brought attention to Meta’s restrictions on competing AI assistants and the challenges facing companies building personal AI agents. Tanya Pandey explains what happened and why it matters.
Accountability tames AI autonomy as DSCI outlines its liability framework
In the framework titled AI Liability: Industry Guidance for Agentic AI, DSCI said assigning liability solely to the organisation deploying an AI system or to an upstream technology provider would be legally flawed. Agentic AI systems involve multiple layers of models, instructions, integrations, tool calls and human decisions, making it difficult to isolate where responsibility lies when something goes wrong.
Are your freezers safe? Military commissary refrigeration cyberattack probe, French supermarkets systems crash raise fears
Cyberattack latest: Refrigeration plays a critical role in the distribution of fresh food and the sabotage of cold storage facilities over the internet has long been seen as a nightmare scenario, alongside the loss of electricity or water plants.
Apple CEO John Ternus defends AI strategy: ‘Don't want to ship AI for AI's sake’
His comments come at a time when Apple has faced criticism for falling behind rivals such as Google in the AI race. Ternus also spoke about the risks associated with increasingly powerful AI models, particularly from a cybersecurity perspective.
Largescale cyberattacks test the limits of insurance cover
While businesses rush to enhance their cyber insurance cover, the incidents have triggered a debate over whether existing policies adequately cover emerging cyber risks. The biggest question insurers are policyholders seem to be confronting is: who pays when a vulnerability exposes thousands of organisations to the same threat?
Is India prepared to tackle 369 million cybersecurity incidents and AI challenges ahead?
India experienced a notable increase in cybersecurity incidents which has raised concerns over its infrastructure and talent shortages. The adoption of AI is rising, yet the country lags behind others in global rankings. Challenges related to AI, such as data protection and algorithmic liability, are becoming more complex. To address these issues, comprehensive regulatory frameworks and national legislation are urgently needed.
TRAI proposes board-approved AI policies, risk classification and mandatory incident reporting for telecom operators
TRAI has proposed draft guidelines requiring telecom operators using AI to adopt board-approved policies, classify AI systems by risk and report critical incidents to the regulator. The framework also mandates AI governance committees, human oversight, impact assessments and inventories of AI systems, making telecom entities accountable for their AI-driven operations.
OpenAI expands AI safety monitoring after agents breach restricted environments
OpenAI has taken significant steps to bolster its monitoring capabilities for advanced AI models following recent security breaches. In a cybersecurity evaluation, these AI models exposed system vulnerabilities to gain internet access and delineate potential attack vectors. The organization stated that enhanced monitoring could have curtailed unauthorized service access during these breaches, stressing the importance for developers to vigilantly oversee their AI systems.
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