The Artificial Intelligence (AI) data center insurance market is expanding rapidly due to the increasing adoption of AI technologies, rising cyber threats, and heightened demand for comprehensive risk management solutions. For decades, insurance has relied on historical averages and pooled risk. That model is breaking down; over the past several years, insured losses from natural catastrophes have exceeded US$100 billion each year. In Canada, they were the costliest ever. The country’s wildf
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A new report from Cyfirma has identified a sophisticated Android application, "Hicas," which, while masquerading as a "Smart Travel Packing Companion" on the Google Play Store, covertly functions as a fraudulent loan platform. The app, which has amassed over 500,000 downloads, specifically targets users in India, raising significant concerns about financial crime and data privacy. Initially appearing as a legitimate utility designed to assist travelers with packing, Hicas presented itself inno
After years of quiet escalation, business leaders are finally beginning to grasp just how serious the threat of fraud has become. Today, nearly half of all fraud attempts (41%) now involve artificial intelligence. Nowhere is this more evident than in the payments industry. Fraudsters can use AI to generate convincing fake invoices, purchase orders, and payment instructions that mirror legitimate business documents. I’ve seen examples that are indistinguishable from the real thing, which is a
