Mr. Ian Paterson reports

PLURILOCK ANNOUNCES STRATEGIC FOCUS TO ADDRESS GROWING AI CYBERSECURITY THREATS

Plurilock Security Inc. intends to leverage its stable of industry-leading cybersecurity products and services to provide organizations with tools to make employee AI (artificial intelligence) use safe and effective as they roll out Plurilock's cyberdefence and emerging threat protection solutions.

Highlights:

• Plurilock, founded on cybersecurity and AI, has announced a companywide focus on addressing the cybersecurity threats represented by AI and generative AI tools.
• The generative AI market is currently seeing historically unprecedented growth yet presents significant risks to the global economy due to data safety issues.
• The company is actively consulting with its customers on business AI governance and adoption and providing free governance resources as a public service.
• The company's AI focus presents significant revenue opportunities by helping its customers reduce risk from generative AI tools while gaining the benefits of automation.

Exploding market for AI and AI safety

Generative AI use has seen unprecedented exponential growth during 2023 thanks to its epoch-defining productivity capabilities:

• Finance departments can use AI to rapidly produce financial reports, forecasts and statements from raw data.
• Human resources departments can use AI to rapidly generate performance reports, summarize personnel files, and write termination letters and reprimands from raw data.
• Engineering departments can use AI to rapidly write complex code, debug existing code or develop integrations from raw data.
• Physicians and other practitioners can use AI to rapidly propose differential diagnoses from complex case files provided as raw data.

On the strength of these abilities, the market for generative AI is expected to reach $1.3-trillion (U.S.) by 2032, with companies increasingly expecting performance improvements across the board using AI.

However, as they engage in such tasks today, the raw data that employees provide to enable AI work is often confidential or proprietary company data, representing an immense flood of sensitive data leakage every day and an economywide data safety problem that spans the globe. Many forms of data, including data associated with veterans, human resources, loan decisions, health care, workplace injuries and others can be subject to a growing list of regulations and regulators, including NYDFS (New York State Department of Financial Services), HIPAA (Health Insurance Portability and Accountability Act), GDPR (General Data Protection Regulation), PIPEDA (Personal Information Protection and Electronic Documents Act) and CCPA (California Consumer Privacy Act). Mishandling data, even through inadvertent disclosure to a tool that lacks accreditation, can result in fines upward of 4 per cent of a company's revenue, as in the case of GDPR.

Attacks targeting generative AI tools have already been reported, with an alleged 100,000 ChatGPT accounts for sale on dark web marketplaces. These ChatGPT accounts could include data that users type into the application, which might include confidential data and proprietary source code.

Security teams as a result are clamping down on the use of generative AI. To illustrate the scope of the problem, the company points to widespread reports that major enterprises, including Apple, Samsung, JP Morgan, Bank of America, Goldman Sachs, Citigroup and Deutsche Bank, have banned or restricted employee AI use.

New resources and services

As a leading cybersecurity provider founded on AI, with a world-class AI and data science team, including multiple in-house PhDs, the company is positioning customers to succeed and thrive in the new AI landscape by acting as a one-stop AI consultancy that:

• Assists customers with AI deployment and sound data management;
• Provides expert planning and guidance for AI adoption strategy;
• Works with customers to develop internal AI governance for safe use.

"Over the last several weeks, I have had dozens of conversations with senior IT [information technology] and cybersecurity leaders that are struggling with AI adoption," said Ian L. Paterson, chief executive officer of Plurilock. "Employee use of generative AI is increasing faster than can be contained. I frequently hear that the use of generative AI is the next smart phone in terms of the speed at which employees are bringing their own devices (BYOD) and using these tools on corporate data and for business purposes."

Mr. Paterson added: "The risk to companies by misusing, misappropriating or not securing their data in conjunction with AI use could be existential. At the same time, senior leaders fear lagging behind their competitors who are deploying AI technologies. These leaders are caught between a rock and a hard place -- their competitors are using AI, yet they need to maintain data confidentiality -- and they're having to confront all of this while avoiding the ransomware and cyberattacks that are affecting their peers."

As a public service, the company has also announced the availability of a free, highly detailed generative AI governance policy template for corporate employees or policy handbooks. The template is designed to ensure that all organizations have access to the resources needed to begin to consider and adopt AI usage and governance policies and is available on Plurilock's website as a PDF download under a Creative Commons licence.

Mr. Paterson says that the entire organization is focused on this mission, adding that: "At Plurilock, we live at the intersection of AI and cybersecurity -- and we believe that, today, the market is desperate for AI safety services and solutions that Plurilock is uniquely able to provide. Generative AI looks to be the next gold rush, and it needs adequate picks and shovels to use it safely."

About Plurilock Security Inc.

Plurilock secures work forces in the age of AI through its Plurilock AI platform, delivering advanced identity, access management, data safety and AI safety solutions to commercial and government customers worldwide. With patented artificial intelligence and patented real-time identity confirmation technology, Plurilock AI enables zero-trust architecture and threat detection and response capabilities for regulated organizations with remote work forces. Through its solutions division, Plurilock aggregates world-class IT services and brings a comprehensive line of products that enable teams across North America and the globe to compute safely in a remote work world.

We seek Safe Harbor.