Plurilock Files Nonprovisional Patent Application for AI-Driven Cloud Access Security Broker Technology for Generative AI

Rhea-AI Summary

Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) has filed a nonprovisional patent application with the USPTO for an AI-driven cloud access security broker (CASB) technology. This technology aims to reduce the risk of data leakage into AI platforms during user interactions with generative AI. The application follows a previously granted provisional patent and demonstrates Plurilock's position at the forefront of technology innovation.

The filing showcases the company's deep cybersecurity and engineering expertise, particularly within its Critical Services team. It also highlights Plurilock's strategy to create long-term value in its software business. With the rapid expansion of AI use in businesses, this technology addresses a growing need for data protection in AI interactions.

Positive

• Filing of nonprovisional patent application for AI-driven CASB technology
• Technology aims to prevent leakage of sensitive data during AI use
• Demonstrates company's expertise in cybersecurity and engineering
• Potential for long-term value generation in software business
• Addresses growing market need with rapid AI adoption in businesses

Negative

• None.

• The nonprovisional patent application covers a new CASB technology that automatically prevents the leakage of sensitive and confidential data during AI use
  
  
• The application follows the filing and subsequent granting of a provisional patent by the U.S. Patent and Trademark Office
  
  
• The filing demonstrates Plurilock's world-class talent and position at the cutting edge of technology innovation, both of which support the Company's software and Critical Services businesses

Vancouver, British Columbia--(Newsfile Corp. - August 14, 2024) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity services and solutions provider, announces that it has filed a nonprovisional patent application with the United States Patent and Trademark Office (USPTO) for a system of AI-driven cloud access security broker (CASB) technology that provides guardrails to reduce the risk of data leakage into AI platforms as users interact with generative AI.

AI use in businesses has expanded rapidly since 2023, with nearly two-thirds of respondents to a McKinsey survey saying that generative AI is now in use in their organization,¹ and industry provider OpenAI saying that over 90 percent of Fortune 500 firms use OpenAI products.²

The Company's nonprovisional patent application follows the filing and later granting³ of a provisional patent by the USPTO and is expected to further expand the Company's foundational IP strategy and holdings. The filing demonstrates the deep cybersecurity and engineering expertise that resides in the Company's exceptional Critical Services team, as well as the way in which the company continues to create potential opportunities for long-term value generation in its software business.

"Our amazing team remains a leader in cybersecurity and information security research and development," said Ian L. Paterson, CEO of Plurilock. "We expect this nonprovisional patent application to further expand the base of proprietary technologies in AI and cybersecurity that is foundational to our Company. Furthermore, we are proud to showcase the expertise on offer in our industry-leading Critical Services team, which is responsible for the work that led to this filing."

About Plurilock

Plurilock sells cybersecurity solutions to the United States and Canadian Federal Governments along with Global 2000 companies. Through these relationships, Plurilock sells its unique brand of Critical Services-aiding clients with our expertise to defend against, detect, and prevent costly data breaches and cyberattacks.

For more information, visit https://www.plurilock.com or contact:

Ian L. Paterson
Chief Executive Officer
ian@plurilock.com
416.800.1566

Ali Hakimzadeh
Executive Chairman
ali@sequoiapartners.ca
604.306.5720

Sean Peasgood
Investor Relations
sean@sophiccapital.com
647.953.5607

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") related to future events or Plurilock's future business, operations, and financial performance and condition. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Plurilock's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Plurilock. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Plurilock undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risk Factors" in its most recent Annual Information Form. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR at www.sedarplus.ca.

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¹ https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai
² https://www.ft.com/content/81ac0e78-5b9b-43c2-b135-d11c47480119
³ https://plurilock.com/press-release/plurilock-announces-new-ai-driven-cloud-access-security-broker-technology-for-generative-ai-tools-and-submits-u-s-provisional-patent-application/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219856

FAQ

What is the purpose of Plurilock's new AI-driven CASB technology?

Plurilock's AI-driven CASB technology aims to automatically prevent the leakage of sensitive and confidential data during interactions with generative AI platforms.

Has Plurilock (PLCKF) been granted any patents for this technology?

Plurilock has been granted a provisional patent by the USPTO and has now filed a nonprovisional patent application for their AI-driven CASB technology.

How does this patent application demonstrate Plurilock's expertise?

The patent application showcases Plurilock's deep cybersecurity and engineering expertise, particularly within their Critical Services team, and positions them at the cutting edge of technology innovation.

What potential impact could this technology have on Plurilock's business?

This technology could create opportunities for long-term value generation in Plurilock's software business and expand their proprietary technologies in AI and cybersecurity.