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AI-Powered Fraud to Reach $350 Billion Globally by 2027, Expert Warns, Nigeria

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He said artificial intelligence (AI)-powered fraud was projected to reach 350 billion between 2023 and 2027 globally.

Olatunji Igbalajobi, an expert, says the advent of artificial intelligence into the cyber space has introduced new challenges in cybersecurity.

Speaking to journalists in an interview in Lagos on Sunday, the cybersecurity expert said the advancements in AI were good, but carried implications for the country.

He said artificial intelligence (AI)-powered fraud was projected to reach 350 billion between 2023 and 2027 globally.

Mr Igbalajobi, a member of the Board of Trustees, Cyber Security Experts Association of Nigeria (CSEAN), spoke about the implications of the growing knowledge and embrace of artificial intelligence around the world, with Nigeria not being left behind.

The expert said AI-driven attacks were more adaptable and could bypass traditional security measures. He added that this evolution in cybercrime tactics made defending against these threats more complex and demanding.

According to him, there are different methods of attacks within the AI application and environment, which include data poisoning attacks and model evasion attacks, among others.

AI poisoning attack occurs when threat actors inject malicious or corrupted data into training data sets, aiming to cause the AI to produce inaccurate results.

Model evasion attacks, on the other hand, when attackers feed the AI with contradictory examples in order to create inaccurate predictions, he said.

He said this showed there was a need to prepare for what was coming, noting that lots of cyber attacks were on the way and if care was not taken, it would result in financial impacts.

The expert also noted that the Nigerian Data Protection Regulation (NDPR) had been calling the attention of organisations in the supply chain and manufacturing industry to consider cyber security an integral part of their organisations.

He explained that with this awareness, they were beginning to get info on how cyber attacks happened and how their industry could also be susceptible.

On reasons cybersecurity adoption was slow, he said Nigerians were more reactive than proactive, noting that most organisations waited to experience cyber attacks before doing the needful.

The expert noted that the cost of mitigating cyber attacks was usually outrageous, noting that companies ended up spending triple the amount that should have been used to prevent it.

Mr Igbalajobi also explained that the public-private partnership sector-driven collaboration was still not where it should be, saying that the country had some international partnerships with notable organisations worldwide, who were trying to invest in Nigeria’s cybersecurity.

The expert said these countries, which included the UK and U.S., among others, were trying to see the opportunities Nigeria and Africa at large could present in cybersecurity.

He urged the government to look into the area of limited funds, access to skill and technology, skilled workforce in terms of talent shortage, continuous training and infrastructural limitations to bridge the gap in cybersecurity.

According to him, there is no doubt that Nigeria has a growing alignment of expertise, but the challenge in the country is losing most cybersecurity experts to the Western world.

Most of them opt to go abroad because the environment there is more competitive and favourable for the job.

It is quite unfortunate that we are losing our experts to the global community, Mr Igbalajobi said.

He added that the number of cybersecurity professionals leaving Nigeria would increase as long as the economic, political, and social situation in Nigeria did not improve.

The cyber security expert, however, said there was a good number of alignment with government regulatory agencies, such as the Central Bank of Nigeria (CBN).

Mr Igbalajobi noted that the regulation CBN had put in place had helped the financial sector to be on its toes and up-to-date in protecting its institutions with cyber security programmes.

Nigeria has been identified with having one of the lowest numbers of cybersecurity experts, signalling a pressing need for enhancing digital security within the nation.

According to a global report, as of 2023, Nigeria has a mere 8,352 professionals.

Scientists Uncover Key to Longer Life in Male and Female Organisms, Japan

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The gap in life expectancy between male and female organisms has been scientifically explained for the first time.

As seen in this graph of world life expectancy, women live about 5% longer than men. This fact isn’t unique to humans, either; we see this trend in a wide range of other animals. Biologists have theorised that the discrepancy in life expectancy between sexes might be partly related to reproduction, but how?

A team at Osaka University has discovered for the first time that germ cells – which develop into eggs in females and sperm in males – drive sex-dependent lifespan differences in vertebrate animals. Their work appears this month in Science Advances.

The researchers examined the aging process in turquoise killifish, a small and fast-growing freshwater fish with a lifespan of only a few months. As in humans, female killifish live longer than males. But when the researchers removed the germ cells from these fish, they found that males and females had similar lifespans.

After removing the germ cells, male killifish lived longer than usual and female lifespans became shorter, explains lead author Kota Abe. We wanted to understand how germ cells could affect males and females so differently. Our next step was to investigate the factors responsible.

The team found that hormonal signalling was very different in females than in males. Female killifish without germ cells had significantly less oestrogen signalling, which can shorten lifespan by increasing cardiovascular disease risk. The females also had significantly more growth factor signalling (insulin-like growth factor 1). This made the females grow larger, while also suppressing signals within the body important for maintaining health and slowing aging.

In contrast, male killifish without germ cells had improved muscle, skin, and bone health. Interestingly, these fish had increased amounts of a substance that activates vitamin D, as well as evidence of vitamin D signalling in their muscles and skin.

Vitamin D can also be considered a hormone. Although well known for keeping bones strong and healthy, it also seems to have wider positive effects throughout the body. The team’s results pointed to the possibility that vitamin D can improve longevity, leading them to test whether a vitamin D supplement could increase the lifespan of the fish.

When we administered active vitamin D, we found that the lifespans of both males and females were significantly extended, suggesting that vitamin D signalling provides health benefits throughout the body, explains senior author Tohru Ishitani. Our work suggests that vitamin D signalling could influence the longevity of other vertebrates, including humans.

The discovery that germ cells affect male and female longevity in opposing ways is an important clue in unravelling the mysterious interactions between reproduction, aging, and lifespan. It’s unclear exactly how vitamin D fits into this puzzle, but it could be part of future strategies to extend healthy lifespans.

Revolutionizing Agriculture in Tamil Nadu: MABIF Empowers Start-Ups, India

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In 2012, overcoming the initial business hurdles and concerns from their family, two horticultural graduates embarked on a journey that would redefine agricultural entrepreneurship in Tamil Nadu. S. Balaji and P. Balathandayuthabani, founded B and B Organics with a vision to innovate and to create an unique online space for their organic products in the market.

The duo’s persistence in the field by refining their marketing strategies and harnessing e-commerce platforms to escalate their organic sales growth led them to the Madurai Agribusiness Incubation Forum (MABIF), a pioneering initiative supported by NABARD and hosted by Tamil Nadu Agricultural University (TNAU).

Established in 2018, MABIF has emerged as a vital hub for nurturing agricultural innovation and fostering sustainable business models. With a one-acre facility provided by TNAU, MABIF offers a comprehensive range of incubation services which meets the diverse needs of aspiring entrepreneurs. From infrastructure support to business development, legal licensing, networking, and financial facilitation, MABIF equips start- ups with the essential tools and resources needed to thrive in today’s competitive market.

Since its inception, MABIF has played a pivotal role in supporting over 354 startups across various agricultural domains. Noteworthy success stories like B and B Organics and Millet Bank underscore the efficacy of MABIF’s approach.

MABIF aims to foster unicorns in the agricultural technology sector, envisioning startups achieving upwards of ₹10 crore. The incubator is actively pursuing increased funding opportunities to propel companies onto the global stage, facilitating international market access and scaling operations, said K. Ganesh Moorthy CEO of MABIF.

Financially, MABIF offers critical support through grants and loans at competitive interest rates, alongside, assistance in obtaining essential legal certifications such as Food Safety and Standards Authority of India (FSSAI), export codes, and product barcodes, ensuring compliance and market readiness.

MABIF has facilitated numerous trademarks, patterns, and geographical indications, underscoring its commitment to intellectual property facilitation. Startups through MABIF benefit access to university faculty, industry experts, and collaborative opportunities to translate cutting-edge research into commercial products. With office space for up to 30 companies, affordable rental solutions, and extensive food processing capabilities, including over 20 processing lines for various products, MABIF significantly lowers the barriers to entry for startups in the agricultural sector, Mr. Ganesh Moorthy added.

By bridging the gap between innovation and implementation, MABIF plays a pivotal role in shaping the future of agriculture in India. They have the potential to transform a farmer into a businessman. For those who enter with ideas and aspirations of entrepreneurship, MABIF can turn theoretical concepts into practical realities, he added.

Australian Architect Bianca Censori Unveils Flintstone-Inspired Home Design

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Austrlian model Bianca Censori, known for sparking controversy with husband Kanye West, recently shared a unique architectural project on her website. The project, designed in 2021 with Yeezy architects, features a stone-age-inspired Flintstones house with a minimalist and open design. With a background in architecture and experience working with renowned architects, Censori’s project showcases a blend of contemporary and prehistoric elements. The Stone Age home, as described by Censori, aims to reimagine the built environment through a historical lens, sparking a dialogue between the past and present. The project includes detailed designs, 3D renders, and a top-down orthographic map, providing a comprehensive view of the innovative structure.

Chinese ‘Ultra Set’ Telecom Equipment Seized in Kashmir Clashes, India

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NEW DELHI: Encounters with terrorists in Jammu and Kashmir led to the seizure of highly encrypted Chinese telecom equipment, known as ‘Ultra Set,’ which were used by terror groups, officials said. This sophisticated gear, initially meant for the Pakistan army, has found its way into the hands of terrorists, raising serious concerns over undetected infiltrations from across the Line of Control (LoC).Authorities believe these terrorists might be residing in the outskirts of cities and villages in the region.

The ‘Ultra Set’ devices, found during a gunfight in the Sindarah top area of Surankote in Poonch district and in Sopore’s Check Mohalla Nowpora in Baramulla district, were seized after confrontations last year and earlier this year. Four foreign terrorists were killed in Surankote, while two were eliminated in Sopore. These specialized handsets, customized by Chinese companies for the Pakistan army, combine cell-phone capabilities with unique radio equipment that bypasses traditional mobile technologies like GSM or CDMA.

Officials indicated that the ‘Ultra Set’ devices operate on radio waves for message transmission and reception, each linked to a control station across the border. The messages are compressed and transmitted via Chinese satellites to a master server in Pakistan. The discovery of such advanced communication tools has heightened fears of state-sponsored support for terrorism.

This is yet another help being extended by China to its key ally Pakistan, officials said, noting that China has been actively enhancing Pakistan’s defense capabilities along the LoC. This support includes the construction of steelhead bunkers, the provision of unmanned aerial vehicles, and the installation of encrypted communication towers, alongside laying underground fiber cables.

Additionally, Chinese radar systems, such as those of the JY and HGR series, have been deployed to improve target detection along the LoC. Advanced weaponry like the SH-15 truck-mounted howitzer has also been observed in the region. These developments are seen as part of China’s strategic interests in Pakistan-occupied Kashmir (PoK), particularly in connection with the China-Pakistan Economic Corridor (CPEC).

While there has been no direct sighting of senior People’s Liberation Army (PLA) officials at forward posts, intercepted communications suggest that Chinese troops and engineers have been involved in infrastructure development in PoK. This includes the construction of underground bunkers and tunnels in the Leepa Valley, supporting a direct route between Gwadar Port in Pakistan and China’s Xinjiang province through the Karakoram Highway.

(With agency inputs)

SoftBank CEO Predicts ASI 10,000 Times Smarter Than Humans in 10 Years, Japan

SoftBank CEO predicts AI to vastly surpass human intelligence within 10 years. SoftBank CEO Masayoshi Son predicts AI 10,000 times smarter than humans will emerge in 10 years, marking a transformative leap in technology. Per CNBC, in a rare public speech on Friday, SoftBank CEO Masayoshi Son questioned his own purpose in life and predicted that artificial intelligence 10,000 times smarter than humans will be present in 10 years. Son described an ideal society that would use ASI (artificial super intelligence). Contrary to his expectations, Son stated that this technology – which is expected to be one to ten times smarter than humans – will be available within the next three to five years. According to Son, artificial intelligence that surpasses human geniuses by a factor of 10,000 is on the horizon. In Japan, SoftBank shares fell by over 3% after the meeting. Son announced that SoftBank would enter defense mode following Vision Fund’s then-record financial losses in 2022. Upon a complete about-face, the Vision Fund set a new loss record in 2023, and Son declared that SoftBank would now go on the offensive, citing his enthusiasm for AI investment potential as the reason. Son stated that he feels that he hasn’t accomplished anything significant thus far and has now discovered his own personal purpose in life. As a seasoned journalist for our leading worldwide news agency, your task is to meet the following criteria: 1. Formulate a headline that is attention-grabbing. 2. Write a lead paragraph using the inverted pyramid structure. 3. Integrate relevant quotes and interviews to provide depth to the story. 4. Maintain clear and concise writing, avoiding unnecessary jargon and technical terms. 5. Consider the interests and needs of our target audience. 6. Adhere to legal and ethical standards. 7. Create a news article that addresses each consideration.

Two Teachers Detained in NEET UG Paper Leak Probe in Maharashtra, India

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Mumbai/Latur (Maharashtra): The Nanded Anti Terrorism Squad (ATS) conducted raids in Nanded and at a couple of places in Latur and has detained two teachers in connection with the NEET UG ‘paper leak’ case, police officials said on Sunday.

According to police officials, Sanjay Jadhav and Jalil Pathan were detained on Saturday, June 22 night. Sanjay Jadhav is a resident of Bothi in Chachur tehsil. He is a teacher at Zilla Parishad School in Takli in Solapur district in western Maharashtra. Jalil Pathan is a teacher at a Zilla Parishad school in Katpur near Latur, ATS sources added.

It is understood that the sleuths of the Nanded ATS interrogated the two teachers. Sources from Nanded ATS said that if required, the two teachers would be called for questioning once again. The two teachers were running separate private coaching centers, sources added.

Thousands of students from across Maharashtra come to Latur to prepare for the NEET exam. The investigation agencies suspect that a racket of NEET exam papers was underway in Latur.

Meanwhile, the Central Bureau of Investigation (CBI) has registered an FIR in connection with alleged irregularities in NEET-UG. The Opposition Congress on Sunday hit out at the Narendra Modi government over the bureaucratic reshuffle in the National Testing Agency (NTA) after alleged irregularities in NEET-UG, saying the buck stops at the doorstep of the top echelons of the regime.

Congress president Mallikarjun Kharge alleged that the National Testing Agency (NTA) was projected to be an autonomous body but in reality was made to serve the devious interests of the BJP/RSS.

In the NEET Scam, the buck stops at the doorstep of the top echelons of the Modi Government. Shuffling the bureaucrats is no solution to the endemic problem in the education system rotted by the BJP, he said in a post on X.

24-Year-Old Arrested for Fatal Stabbing at NYC Subway Station, US

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MANHATTAN, NY — Early on Saturday, June 22, at 2:10 AM, the New York Police Department arrested 24-year-old Diego Figueroa-Hepner in connection with a fatal stabbing incident. The arrest took place at 725 West 172 Street within the 33rd Precinct.

Figueroa-Hepner faces charges of intentional murder and criminal possession of a weapon. This follows a distressing event on Friday, June 21, when police responded to a 911 call at 5:55 PM reporting a stabbing at the 175 Street and Fort Washington Subway Station. Upon arrival, officers found 40-year-old Johnny Medina with multiple stab wounds to his torso.

Medina was transported to NYC Health and Hospitals/Harlem, where he was later pronounced dead. The investigation into Medina’s death remains active, and further updates are anticipated as authorities proceed.

Nvidia Dominance in AI Field Faces Emerging Competition, Canada

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Toronto, (APP – UrduPoint / Pakistan Point News – 23rd Jun, 2024) For a few days, AI chip juggernaut Nvidia sat on the throne as the world’s biggest company, but behind the its staggering success are questions on whether new entrants can stake a claim to the artificial intelligence bonanza.

Nvidia, which makes the processors that are the only option to train generative AI’s large language models, is now Big Tech’s newest member and its stock market takeoff has lifted the whole sector.

Even tech’s second rung on Wall Street has ridden on Nvidia’s coattails with Oracle, Broadcom, HP and a spate of others seeing their stock valuations surge, despite sometimes shaky earnings.

Amid the champagne popping, startups seeking the attention of Silicon Valley venture capitalists are being asked to innovate — but without a clear indication of where the next chapter of AI will be written.

When it comes to generative AI, doubts persist on what exactly will be left for companies that are not existing model makers, a field dominated by Microsoft-backed OpenAI, Google and Anthropic.

Most agree that competing with them head-on could be a fool’s errand.

I don’t think that there’s a great opportunity to start a foundational AI company at this point in time, said Mike Myer, founder and CEO of tech firm Quiq, at the Collision technology conference in Toronto.

Some have tried to build applications that use or mimic the powers of the existing big models, but this is being slapped down by Silicon Valley’s biggest players.

What I find disturbing is that people are not differentiating between those applications which are roadkill for the models as they progress in their capabilities, and those that are really adding value and will be here 10 years from now, said venture capital veteran Vinod Khosla.

– ‘Won’t keep up’ –

The tough-talking Khosla is one of OpenAI’s earliest investors.

Grammarly won’t keep up, Khosla predicted of the spelling and grammar checking app, and others similar to it.

He said these companies, which put only a thin wrapper around what the AI models can offer, are doomed.

One of the fields ripe for the taking is chip design, Khosla said, with AI demanding ever more specialized processors that provide highly specific powers.

If you look across the chip history, we really have for the most part focused on more general chips, Rebecca Parsons, CTO at tech consultancy Thoughtworks, told AFP.

Providing more specialized processing for the many demands of AI is an opportunity seized by Groq, a hot startup that has built chips for the deployment of AI as opposed to its training, or inference — the specialty of Nvidia’s world-dominating GPUs.

Groq CEO Jonathan Ross told AFP that Nvidia won’t be the best at everything, even if they are uncontested for generative AI training.

Nvidia and (its CEO) Jensen Huang are like Michael Jordan… the greatest of all time in basketball. But inference is baseball, and we try and forget the time where Michael Jordan tried to play baseball and wasn’t very good at it, he said.

Another opportunity will come from highly specialized AI that will provide expertise and know-how based on proprietary data which won’t be co-opted by voracious big tech.

Open AI and Google aren’t going to build a structural engineer. They’re not going to build products like a Primary care doctor or a mental health therapist, said Khosla.

Profiting from highly specialized data is the basis of Cohere, another of Silicon Valley’s hottest startups that pitches specifically-made models to businesses that are skittish about AI veering out of their control.

Enterprises are skeptical of technology, and they’re risk-averse, and so we need to win their trust and to prove to them that there’s a way to adopt this technology that’s reliable, trustworthy and secure, Cohere CEO Aidan Gomez told AFP.

When he was just 20 and working at Google, Gomez co-authored the seminal paper Attention Is All You Need, which introduced Transformer, the architecture behind popular large language models like OpenAI’s GPT-4.

Severe Thunderstorm Warnings Issued for Allegan and Van Buren Counties in West Michigan, US

Severe thunderstorm warnings have been issued for Allegan and Van Buren counties until 12:30 a.m. Sunday, according to the National Weather Service. Winds of up to 60 mph are possible, with the greatest risk area located south of I-96. The time frame for potential showers and storms is from 8 p.m. Saturday to 1 a.m. Sunday. Damaging winds, flooding rain, and lightning are the primary threats associated with the storms. West Michigan experienced thunderstorms Thursday, resulting in warnings for parts of Barry, Kent, and Ionia counties. Temperatures are expected to drop into the 70s on Sunday due to a passing cold front.