AVEVA expands collaboration with Microsoft. Focus on cloud and AI in manufacturing and energy

Kuala Lumpur, Malaysia –  11th November 2020 – AVEVA, a global leader in engineering and industrial software, today announced that it will be extending its long-standing strategic collaboration with Microsoft to focus on accelerating digital transformation in the industrial sector.

AVEVA will help maximize the value that customers can derive from the integration of AVEVA’s portfolio with Microsoft cloud services and especially Microsoft Azure (infrastructure, data and AI services), helping them achieve implementations quicker, connect teams more readily and drive growth opportunities throughout their integrated portfolio.

AVEVA’s key focus areas will revolve around cloud as well as transforming the workforce (connected worker), and building a common Asset Strategy (Asset Performance). 

Working with Microsoft, AVEVA will continue to focus on three key areas, already proven with customers including TotalVeolia and SCG Chemicals – platform integration, a multi-solution engagement approach, and a shared go-to-market strategy. The platform integration approach can help generate new ways to increase business value for customers.

Empowering Industrial Digital Transformation to Unlock a Sustainable Future 

Over the past few years, digital transformation has been changing the way the manufacturing and energy industries approach business sustainability while seeking robust technologies to run their operations efficiently.

As the sector transitions to working differently in a digital-first new normal, AVEVA is collaborating with Microsoft to support its customer vison of creating profitable business outcomes that will enable them to thrive in today’s challenging macro environment.

AVEVA may also explore opportunities to collaborate on environmental sustainability in the future.

AVEVA’s portfolio breadth, combined with Microsoft’s technology solutions, enables customers to deploy faster, reduce energy consumption, cut emissions, and share collaborative innovation, boosting efficiency for all.

Unlocking new technology innovations and digital solutions like Azure AI services, such as Azure Cognitive Search, supports efficient energy management, successful workforce transformations, and helps realize process improvements.

Earlier this year, AVEVA became one of ten leading companies to collaborate with Microsoft to launch Microsoft Energy Core as part of a commitment towards capacity-building, empowering innovation, and driving prosperity and growth with a common goal to reshape the future of the energy industry and drive a positive impact in global communities.

Fueling Breakthrough Capabilities to Ensure Customer Resilience

In complex industries, integrating technology solutions has broad implications. With so much of the world’s economy becoming increasingly reliant on digital infrastructure, meeting the highest standards for these critical assets is vital to providing secure, safe and reliable critical services.

According to an AVEVA survey, 86% of organizations agree that digital transformation is a key component of their company’s strategic plan today.

While almost all industrial companies know that cloud adoption is a key element of their digital transformation, a large portion did not have concrete plans to execute their cloud strategy before the pandemic.

AVEVA is working with Microsoft to help customers explore new ways to leverage the value of cloud technologies as well as Azure AI, Azure Machine Learning and Big Data Analytics.

Steen Lomholt-Thomsen, Chief Revenue Officer at AVEVA, said, “With so much of the world’s economy becoming reliant on digitization, meeting the highest standards for these critical deployments is no longer just a nice to have, it is an absolute necessity. 

“The upshot of this pandemic is that it has forced entire sectors within the industry to embrace innovative digital platforms available to facilitate a way of working that keeps both people connected and agile, and more importantly, safe.

“We are proud to be extending our relationship with Microsoft as we strive to make our joint contribution towards helping customers navigate the challenges and complexities that today’s volatile environment brings.”

Deb Cupp, CVP WW Enterprise & Commercial Industries at Microsoft, commented, “With today’s economic resilience now tied so closely to digital infrastructures, it is important the industrial organizations adopt a scalable, stable, and harmonized framework to support their corporate strategies.

Cloud technologies like Microsoft Azure will enable businesses to configure, provision and design the solution they need, when and where they need it. Our collaboration with AVEVA will empower industrial and manufacturing organizations to develop innovative solutions for our customers.”


AI, innovation and mineral market are Saudi Arabia’s new cornerstones

This is how Saudi Arabia is trying to limit its already too heavy dependence on the oil and gas sector.

It is investing heavily, in terms of double-digit in billions of dollars in Artificial Intelligence, innovation and looking at the mineral market.

While the United Arab Emirates ranks number 1 in terms of innovation in the Arabian or Middle East region, Saudi Arabia is cutting a fair share of success for itself.

INNOVATION

According to the Global Innovation Index, Saudi Arabia ramped up notably in the Innovation Output SubIndex by eight ranks to reach the 77th place.

“With 46 brands in the top 5,000, led by telecoms STC, Saudi Arabia ranks 18th in the novel GII indicator Global brands value.

“Other relative strengths include the Ease of protecting minority investors, where it ranks 3rd worldwide, Global R&D companies (22nd), ICT access (31st), ICT use (29th), and the quality of its universities (31st),” the report said.

In August, King Salman Bin Abdulaziz approved Saudi Arabia’s Artificial Intelligence (AI) strategy.

AI is expected to contribute an estimated 500 billion riyals (US$133 billion) to gross domestic product (GDP) by 2030.

The Saudi Data and Artificial Intelligence Authority (SDAIA) was also set up in August 2019.

The authorities are establishing a national data bank to consolidate more than 80 government dataset.

This is the equivalent to 30 per cent of the government’s digital assets.

Saudi Arabia is also also planning to build one of the largest clouds in the region.

To get there, it will be merging 83 data centres owned by more than 40 government bodies.

Saudi Blockchain

The plan is to put AI and digitalisation at the heart of the Saudi Vision 2030.

The strategy was launched in 2016 and raised eyebrows in many parts of the world. The Saudi’s are known for the heavy dependence on oil and gas, hence observers found it difficult to believe they will focus on anything else.

The attention span, they say, were short for the Saudi’s to concentrate on anything else but oil.

The government is undertaking major educational reform to make sure students acquire the digital skills for future jobs in AI and other technologies, such as the Internet of Things (IoT) and Blockchain. 

deputy minister of technology, industry and digital capabilities, Dr Ahmed Al Theneyan

But with the recent investments, Saudi Arabia seems committed to building sustainable cities and communities, improving health and well-being of citizens, improving the quality of education, providing decent work and fostering innovation-driven economic growth.

$1.3T MINERAL RESOURCES

The Saudi Ministry of Investment says mineral market is an opportunity, following decline in foreign investor licences in Q2.

With a fall in the number of foreign investor licences (-47%) in the second quarter of 2020, the Saudis are reminding investors of the immense potential in the country.

This includes mineral resources with a new mining law enacted. The authorities say it will help unlock an untapped mineral market worth US$1.3 trillion.


Indonesian Banks believe AI Will Stop Money Laundering

  • 95 percent of Indonesian banks believe AI will stop more money laundering.
  • 100 percent of Indonesian banks still believe in older rules-based technology for AML compliance, despite 91 percent saying that they experience significant struggles modifying these systems.
  • In Indonesia, 100 percent of banks said they will invest in financial crime compliance in the year ahead and 59 percent plan to significantly increase this investment in 2021.    

A recent survey by global analytics software firm FICO has revealed that while 95 percent of Indonesian banks believe AI will strengthen anti-money laundering efforts, many remain unsure how to operationalize the advanced technology.

Conversely, when asked about the efficacy of much older rules-based technology, 100 percent of Indonesian banks say they still believe in the ability of these AML systems, despite 91 percent saying they experience significant struggles modifying them.

“Rules-based compliance systems continue to the be the workhorse for banks in Asia Pacific when fighting financial crime,” said Timothy Choon, FICO’s Financial Crimes Leader in Asia Pacific. “However, some early adopters are starting to embrace the new world of AI and realize that the decade-old rules-based systems can’t keep up with sophisticated threats on their own.  

“The secret sauce is operationalizing advanced AI technology and making it work side-by-side with the rules-based systems. In fact, 20 percent of respondents picked this as their principal obstacle in meeting financial crime risk mitigation targets.”

The survey showed that the key challenges for existing AML compliance solutions regionally were: the ability to meet new types of compliance risks in channels and products; the capacity to provide an end-to-end integrated compliance solution; and the facility to update quickly to changes in regulation.

Across Asia Pacific, larger multinational banks were more likely to use a vendor solution for AML, while the use of an in-house system was more common with domestic banks.

Key drivers of financial crime strategy

One of the leading indicators driving change in financial crime strategy is customer experience. Over two-in-five respondents ranked this in their top considerations with 17 percent of Asia Pacific banks citing it as the primary factor behind their current and future approach.

“We can see that addressing the competing needs of regulatory compliance and customer experience remains a balancing act for most institutions,” said Choon.

“Banks are challenged by the need for more information to deal with high rates of alerts from ineffective systems, while not vexing customers with incessant due diligence questions.”

Additional considerations ranked second and third by banks included, reputation damage and direct financial losses. When it came to financial crime challenges almost half of respondents cited the speed of responding to new threats, while a third believe achieving accurate detection remains a significant test.

FICO’s comprehensive compliance solution incorporates advanced machine learning techniques designed to address these challenges by significantly improving detection accuracy through patented advanced analytics models such as Soft Clustering Misalignment and Threat Score which can help financial institutions operationalize AI within their existing compliance strategies 

Investment in compliance technology

A significant majority of banks (93%) across Asia Pacific are likely to continue their technology spend on either upgrading or enhancing their compliance systems. However, in the key regional financial centres of Singapore and Hong Kong only two-thirds of respondents indicated that their banks are likely to start new investments in compliance technology, likely due to their more significant spend in this area in recent years.

In Indonesia, 100 percent of banks said they will continue to invest in compliance in the year ahead and 59 percent plan to significantly increase this investment in 2021.

Overall levels of investment in compliance technology by banks in Asia Pacific are expected to rise in 2021. 49 percent of respondents said budgets will increase, with an additional 34 percent expecting a significant increase. Interestingly, foreign banks are more inclined towards new spend compared with domestic counterparts. Indonesia, Australia, Thailand and the Philippines were the markets that said they would invest the most in 2021.

“This survey, conducted in May, shows that even in the recent economic downturn triggered by the pandemic, banks remain committed to targeted spending that boosts their AML compliance defenses,” said Choon. “There is an increased willingness to perceive compliance and fraud as a common financial crime risk – a fraudster is more likely to launder money, and vice versa.

“This convergence is a global trend. Banks in the US and UK are well on their way to fully integrating their compliance and fraud functions, bringing together teams, leaders and technologies.  

We believe banks in Asia Pacific are looking to these markets to see what will work, with plans to follow quickly in the next 24-36 months.”

FICO’s Integrated AML Compliance Survey was produced in May 2020 using an online, quantitative poll of 256 senior executives from banks across eleven countries carried out on behalf of FICO by an independent research company. The countries surveyed were Australia, Hong Kong, Indonesia, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.


The Dark Side of China: The Evolution of a Global Cyber Power

SINGAPORE – August 31, 2020 – IntSights, the threat intelligence company focused on enabling enterprises to Defend Forward, today released a research report exploring how China’s cyber operations are evolving to fit the dynamic digital landscape and to achieve its objectives for growth and expansion of the government’s ideals.

Researchers as IntSights have analysed the country’s strategic intelligence priorities and its targets to understand how to defend against China’s cyber threats.

China’s cyber arm has evolved significantly since the first advanced persistent threat (APT) groups were discovered over a decade ago, and IntSights’ researchers have found that Chinese state-sponsored threat actors have been attributed to hundreds of attacks in over 20 countries and countless industries around the world.

The report analyses several of China’s cybersecurity targets in Asia Pacific including in India, which saw a June 2020 conflict in the disputed border territory of Galwan Valley between India and China escalating to cyberattacks.

During this time, Indian police reported a 300% increase over normal cyberattack levels originating from China, including Denial of Service (DoS) attacks, phishing attempts and malware attacks on India’s critical infrastructure.

Other key findings include:

  • The increase in cyber operations on cultural and religious organisations that includes the monitoring and oppression of minorities through high-tech digital surveillance, exploitation campaigns, exploitation of vulnerabilities in Android operating systems that is commonly used among the minority population, etc.
  • Surveillance and espionage through the use of artificial intelligence (AI) and machine learning (ML) to gain market and military advantages such as its domestic social credit system where the state monitors its population for negative and positive behaviour that affects citizens’ social credits scores
  • The rise of software supply chain attacks carried out by state-sponsored hacking group APT41, through a hidden malicious code within apps and software updates. Such attacks allow for spying on users’ behaviour, logging keystrokes to steal credentials, monitoring cameras and microphones, and taking control of the device remotely, and has caused more than six companies to suffer. This includes
    • Korean enterprise remote administration tool, NetSarang, with over 700,000 machines compromised
    • Taiwanese computer company, Asus, with over 600,000 machines affected

DOWNLOAD THE REPORT THERE:

China has taken the reins as the world’s preeminent cyber power, evolving into a dynamic force capable of attacking and disrupting its economic and military adversaries while dominating weaker nations it seeks to control. Recent research indicates that China is shifting its cyber objectives, targets, and tactics, demonstrating its intent to exert its influence over the dynamic global digital landscape.


Dataiku raises $100mn to extend leadership in enterprise AI market

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Stripes leads Series D as Tiger Global Management joins existing investors Battery Ventures, CapitalG, Dawn Capital, FirstMark Capital and ICONIQ

NEW YORK, Aug 24 (Bernama) — Today, Dataiku, a leading global Enterprise AI and machine learning platform, announced a $100 million Series D investment round led by Stripes, with a major investment by Tiger Global Management and participation from existing investors Battery Ventures, CapitalG, Dawn Capital, FirstMark Capital and ICONIQ. The funding comes as Dataiku continues to drive AI within the enterprise, serving over 300 customers who understand that a collaborative and end-to-end AI strategy is critical to their success.

“Our leadership in enterprise AI continues to attract world-class investors who understand that Dataiku’s solution and customer base are truly global and that we’re uniquely positioned to help businesses realize the untapped potential for AI to transform the enterprise,” said Florian Douetteau, co-founder and CEO of Dataiku.

“In a global business market rocked by the changes 2020 has brought, AI has proven to be a critical element of organizational success driving business growth in every major vertical market.”


Dataiku was founded in 2013 with the mission to take machine learning and AI projects out of experimental labs and put them into everyday operations that are truly woven into the fabric of a company. Dataiku serves hundreds of customers worldwide, including Schlumberger, GE Aviation, Sephora, Unilever, BNP Paribas, Premera Blue Cross, Kuka, and Santander.

REAL LIFE IMPLEMENTATION

Its team has grown to more than 450 people worldwide in New York, Paris, London, Frankfürt, Dubai, Amsterdam, Sydney, and Singapore.

“The progression of AI in the enterprise has moved rapidly from experimentation to real-life implementations at scale in 2020, and Dataiku is at the forefront of that shift with the most comprehensive, secure and enterprise ready product we have seen in our extensive research into this market,” said Ron Shah, Partner at Stripes.

“What we’ve seen in Dataiku is not only a commitment to developing future-proof technology for customers ranging across nearly every major industry and geography, but perhaps more importantly, a team of dedicated professionals and global organization working to ensure trust, safety and resilience through machine learning.

“We’re excited to be a part of their continued success through this investment,” added Paul Melchiorre, Operating Partner at Stripes.

“The market has continued to validate Dataiku’s collaborative approach as the best way to reap the benefits of AI throughout any organization,” said Evgenia Plotnikova, Partner at Dawn Capital. “And agility through AI has never been a more important capability in the enterprise.”


MIDA and Axiomtek accelerates AI adoption in Malaysia

KUALA LUMPUR, Aug 18 (Bernama) — The Malaysian Investment Development Authority (MIDA) has partnered with Axiomtek to help local companies, particularly small and medium enterprises (SMEs), to embrace advance technologies such as AI and move up the value chain.

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The Axiomtek Artificial Intelligence (AI) Starter Kit launched today adds to MIDA’s on-going initiative to drive the country towards Industry 4.0.

Axiomtek is a leading design and manufacturing company in the industrial computer and embedded fields, based in Taiwan.

The company has successfully developed an affordable and practical AI solution with integrated hardware and software.

This Starter Kit is an application ready package with a ‘plug-and-play’ feature for ease of implementation for various operational functions such as industrial automation, retail as well as smart city applications.

During the launch of the AI Starter Kit, Mr.Ahmad Khairuddin Abdul Rahim, Deputy Chief Executive Officer II of MIDA said, “This launch marks MIDA’s deliberate effort to quash the industry’s perception that AI is difficult while realising the goals of Industry4WRD.

“We are optimistic that this cost-effective AI Starter Kit, that prioritises ease of AI implementation for SMEs, will bring deep commercial value to companies that are working towards harnessing the full benefits of cutting edge technology.”

This launch is the beginning of a strategic programme that will be executed in phases to enable smooth implementation and adoption of AI technology within Malaysia’s industry ecosystem.

The targeted beneficiaries include SMEs, mid-tier companies, local large companies as well as multinational companies within the manufacturing and services sectors.

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STRENGTHEN MALAYSIA

Additionally, this programme also aims to strengthen Malaysia’s talent ecosystem through potential collaboration with universities.

“This Axiomtek AI Starter Kit implementation embodies the spirit of integration, whereby the Government, technology leaders, manufacturers, and research communities come together to co-create new solutions to jointly expand the limits of our collective capabilities.

“By empowering the local manufacturing ecosystem, various local universities are able to join in to create AI modelling and applications from the starter kits applicable for use by SMEs.

“MIDA hopes to equip university students and educators with the same knowledge and technical knowhow, making sure our students are able to appreciate and optimise the usage of AI technologies once they become part of the workforce in the country”, remarked Mr.Ahmad Khairuddin.

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Companies that are interested to be part of this programme are encouraged to follow the official social media channels of MIDA and subscribe to the Agency’s e-Newsletter for further updates at www.mida.gov.my.


AVEVA’s smart AI App to improve manufacturing, IO in Real-time

Kuala Lumpur, MALAYSIA, 22 July 2020 – AVEVA, a global leader in engineering and industrial software, has today announced the launch of the AVEVA™ Insight OMI app, a first in the industry to infuse real-time artificial intelligence into an operator’s decision-making as well as improve overall operational agility.

The smart app provides industrial businesses with an accelerated path toward implementing artificial intelligence in the control room or on the plant floor, presenting real-time anomaly detection in a context-aware OMI visualization display.

It will benefit operators, engineers, and operations managers from various industries including Water and Wastewater, Energy, Food & Beverage amongst others.

The AVEVA Insight OMI app introduces AI capabilities into the AVEVA System Platformformerly Wonderware, and leverages predictive early warning and automatic detection of unusual operational behavior. This provides users with early notification so they can quickly resolve issues before they become critical business problems such as unplanned downtime and production losses.

A simple management interface enables operations, maintenance and production teams to quickly train the AI engine to adapt to the enterprise’s specific implementation.

An intuitive thumbs-up or thumbs-down confirmation ensures AI-driven notifications are relevant to the needs of the user and support overall enterprise objectives, with no programming or data science knowledge required.

This closed-loop feedback improves the accuracy of the AI prediction engine over time and enables users to see what matters. As anomalous patterns are identified, they can be captured and presented by the app within an organization’s on-premise HMI/SCADA solution, delivering insights directly where operators need it.

“IIoT applications have driven a massive increase in the collection of real-time operations and manufacturing data.

As a result, operators face alarm overload and often cannot effectively react to or distinguish between process-critical situations and false-positive alarm conditions, resulting in the loss of operational time and resources.

By harnessing the power of AI and advanced cloud analytics, AVEVA is enabling operators to take proactive action, before process and maintenance problems occur,” commented Rashesh Mody, Vice President, Monitoring and Control, AVEVA.

“In today’s climate of increased demand for innovative technology solutions, the launch of our new AVEVA Insight OMI app is a significant development because it serves as a single interface into operations by bridging the information technology and operational technology divide for increased agility and situational awareness.

We are very excited to introduce a solution that will help our customers manage critical operations and improve decision support for maximum profitability in these fast-changing times,” Mody concludes.

AVEVA System Platform is a responsive, scalable solution for supervisory, SCADA, HMI, and IIoT applications that integrates with the enterprise processes.

It provides a collaborative, standards-based foundation that unifies assets across all facilities for continuous operational improvement and real-time decision support. It offers enterprise-wide standards compliance across processes, functional teams, and sites.

Watch a video of the new AVEVA Insight OMI App here and below.


FICO: Here comes Artificial Intelligence to combat financial crime

Financiao-Crime-predictions-2018 – Picture Credit: FICO

As money laundering schemes are getting more and more sophisticated, the detection and mitigation strategy has to get smarter and faster.

Looking ahead to 2018, I predict a rising trend for organizations to do four things better than today in the realm of financial crime.

1. Take a More Holistic Approach

Today fraud prevention, cybersecurity and anti-money laundering (AML) are still siloed at many financial institutions. A holistic approach would have one customer risk classification used that would consider any available information, whether that comes from a fraud system, the CISO’s system or a compliance system.

2. Use Artificial Intelligence to Find New Patterns

Today’s detection seems to be too static, with fairly basic analytics and an over-reliance on rules. For 2018 we see an increasing trend in adding artificial intelligence and more powerful algorithms to that capability.

The objective isn’t just to jump on the AI bandwagon — it’s to further decrease workload and increase productivity at compliance departments. We do not see a replacement of the traditional approach in the short term, but an enhancement with AI that takes detection to the next level. This will help prioritize the existing alerts and generate new alerts, as we “find the unknown patterns”.

3. Automate the Search for Tax Evasion

Compliance is related to tax evasion in many cases. Recently we have seen the Panama Papers and Paradise Papers, and we will see more Papers leaks next year. Compliance organizations will be exploring the holistic approach to detection, and adopting tools that include any of this information in an automated manner.

4. Accelerate to Real-Time Detection

Last but not least: Criminal schemes are not only getting more sophisticated, and they will get faster as well. So must detection. We see the growth of a real-time detection requirement for the AML space, just as we already have in the credit fraud detection space.

Want to see what FICO is doing to help lenders get ready for compliance in 2018? Check out our financial crime pages.