Making money with AI and ransomware attacks: this month’s DATA+ snapshot

Like the vitamin shots that line the shelves of your favorite supermarket, IO is preparing a monthly (snap) shot for you with the most exciting developments and most important news about data in the Netherlands. This month’s main ingredients? Making big money with AI and improved digital security.

1. Young Dutch millionaires make money with AI

Interesting news recently came out about Dutch millionaires. More and more young entrepreneurs are making money with artificial intelligence. They use AI for forest fire prevention or medical research, for example. Maarten Alblas is one of them. He founded DataSnipper, which supports accountants. He ranks third in the Quote 100, with estimated assets of 140 million euros.

2. Easy check if you’re really talking to the bank

We protect ourselves better and better against scams. Suppose you get a call from someone who says he is from the bank. He or she tells you something is wrong with your money, account, or debit card. Then you want to make sure it really is the bank, not a scammer trying to steal your money. The ING app now has a handy feature: ‘Check the Call’. This allows customers to see if the caller is a bank employee.

And, good news: more banks are likely to follow suit. ING will share its experience with the other Dutch banks.

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3. Ransom victims paid less

Talking about digital security: In the first quarter of 2024, less than a third of ransomware victims paid ransom, down from 85 percent five years ago. This is according to figures from security firm Coveware. Ransomware hackers often target businesses, where they encrypt data. Paying a ransom is often the only way to free systems again.

According to Coveware, the decline is partly due to actions taken by authorities against large ransomware platforms. Recently, for example, the websites of ransomware groups LockBit and BlackCat were seized.

4. Digital twins protect the power grid

The Netherlands is currently busy with digital twins. The Dutch demonstrator of the eFORT project, led by TenneT and Delft University of Technology, is developing a digital twin of the power grid to make it more resistant to cyber-attacks. It is an important step to protect Europe’s energy infrastructure. Experts can simulate and analyze threats in real-time.

4. Electronics go fully circular

If we want to innovate in the field of data, we obviously cannot forget the electronic devices that generate the data. This month, steps were taken in the Netherlands to make our electronics considerably more sustainable. Electronic components are usually fused with plastic to protect the circuitry. But this makes recycling difficult. TNO has a solution: a water-based layer between the circuit and the plastic. This layer protects the circuit and makes recycling easier.

Originally Appeared Here

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About the Author: Rayne Chancer