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AI and Cybersecurity - Evolving Security to New Levels

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Scope AI Corp. has entered into a technology agreement with Ovryde to acquire ownership and rights to their quantum-resilient entropy (QSE) technology. This advanced security measure is designed to protect data against future quantum computing threats. The Global AI in Cybersecurity Market is projected to grow significantly, from $22.1 billion in 2023 to $147.5 billion by 2033, at a CAGR of 20.8%. With this acquisition, Scope AI aims to expand its cybersecurity offerings, address emerging quantum threats, and create new revenue streams.

The QSE Technology product suite includes API-based quantum-resilient entropy as a service and encrypted cloud, on-premise, and decentralized storage solutions, ensuring robust protection for sensitive data in transit and at rest. Scope AI's payment for this acquisition includes $400,000 and 2,800,000 common shares issued to Ovryde. This deal positions Scope AI as a market leader in quantum-resilient security solutions, preparing businesses for future advancements in digital security.

Positive
  • Expansion of cybersecurity offerings through acquisition of Ovryde's QSE technology.
  • Addresses quantum-computing threats, ensuring robust data protection.
  • Creation of new revenue streams, particularly in finance, healthcare, and government sectors.
  • Helps clients comply with evolving regulatory standards for data protection.
  • Positions Scope AI as a leader in quantum-resilient security solutions.
Negative
  • Acquisition cost includes $400,000 and issuance of 2,800,000 common shares, potentially leading to shareholder dilution.

Vancouver, Kelowna, and Delta, British Columbia--(Newsfile Corp. - July 10, 2024) - Investorideas.com, a global investor news source covering Artificial Intelligence (AI) and cybersecurity stocks releases a snapshot looking at how AI will shape the future landscape of cybersecurity and some of the companies, including Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN80), aiming to be on the leading edge of this technology revolution.

Read the full article on Investordeas.com
https://www.investorideas.com/News/2024/technology/07100AI-Cybersecurity.asp

Scope AI Corp. is a leading technology company headquartered in Vancouver, British Columbia, dedicated to advancing the field of artificial intelligence. With a focus on visual recognition and neural network technology, Scope is committed to empowering businesses and industries with innovative solutions that drive growth and innovation.

According to Dimensional Market Research, "The Global AI in Cybersecurity Market size reached USD 22.1 billion by 2023 and is further anticipated to reach USD 147.5 billion by 2033 according to Dimension Market Research. The market is anticipated to register a CAGR of 20.8% from 2023 to 2033."

What is the current opportunity? 55% of companies globally are planning to utilize AI to enhance corporate cybersecurity in 2024 says Market.us.

Building on its current technology base, Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN80) this week announced that it has entered into a technology agreement with Ovryde, whereby Ovryde has agreed to transfer it ownership and rights relating to delivery and application of quantum resilient entropy.

Quantum resilient entropy is an advanced security measure designed to protect data against the future threats posed by quantum computing, ensuring that sensitive information remain secure in an increasingly digital world.

Scope AI says some of the key benefits of the acquisition include:

Immediate Expansion: This acquisition broadens Scope AI's cybersecurity offerings by integrating Ovryde's advanced quantum security technologies, providing more comprehensive solutions for clients.

Addressing New Threats: With the QSE Technology, Scope AI can tackle emerging quantum-computing threats, ensuring robust protection for sensitive data in transit and at rest.

Efficient Synergies and New Revenue Streams:

Faster Deployment: The integration of QSE Technology creates synergies that enable faster and more efficient deployment of solutions.

New Revenue Opportunities: This opens new revenue streams by catering to industries with stringent data security needs, such as finance, healthcare, and government sectors.

Regulatory Compliance and Future-Readiness:

Meeting Regulations: Helps clients comply with new and evolving regulatory standards for quantum-resistant encryption and data protection.

Future-Proof Solutions: Prepares businesses for future quantum-computing advancements with robust and scalable security solutions.

Market Leadership and Innovation:

Leading the Market: Positions Scope AI as a leader in quantum-resilient security solutions, setting it apart from competitors.

Sustainable Growth: Provides a foundation for sustainable growth by continuously adapting to technological advancements in cybersecurity.

James Young, CEO of Scope AI Corp. stated, "We are pleased to announce the acquisition of the QSE Technology. The product suite is established, complete, and ready to onboard customers now. This acquisition enables us to provide our customers with extremely robust security solutions that are easy to integrate into existing infrastructures. With the QSE Technology, we can address the emerging threats posed by quantum computing and ensure our clients are prepared for the future of digital security."

More from the news: The QSE Technology product suite offers API-based quantum-resilient entropy as a service and encrypted cloud, on-premise, and decentralized storage solutions. At its core, the platform provides a proprietary high-performance data-pipeline that can scale vertically and horizontally to protect private, business, and government applications with highly sensitive data in transit and at rest. The QSE Technology product suite uniquely protects digital assets against current and future cyber security threats and quantum-computing decryption attacks.

Under the terms of the Technology Agreement, Scope will acquire Ovryde's ownership and rights relating to the QSE Technology. In consideration of the QSE Technology, Scope has agreed to pay to Ovryde $400,000 and issue to Ovryde 2,800,000 common shares of the Company on closing of the transaction.

In late June, BlackBerry Limited released its latest Global Threat Intelligence Report, revealing that BlackBerry® cybersecurity solutions detected and stopped 3.1 million cyberattacks (37,000 per day) in the first quarter of 2024.

From the news: Between January and March 2024, BlackBerry detected 630,000 malicious hashes, representing a 40 percent increase from its previous reporting period. Sixty percent of attacks targeting industry were directed at critical infrastructure, including government, healthcare, financial, and communication industries, of which 40 percent targeted the financial sector.

In May BlackBerry Limited (NYSE: BB) (TSX: BB) introduced the new and expanded CylanceMDR™, offering comprehensive Managed Detection & Response (MDR) protection powered by the award-winning Cylance® AI platform and augmented with award-winning security operations center analysts for 24x7 threat coverage.

From the news: CylanceMDR (formerly CylanceGUARD®) now offers three new packages - Standard, Advanced, and On-Demand. Each package is designed to address the unique cybersecurity challenges businesses face today, from industry-leading AI detection to expert support, providing a comprehensive solution for all.

"CylanceMDR offers more than just industry-leading technology; you're getting a true AI-driven MDR fueled by proprietary threat intelligence. But we know it's not enough to have the right technology. The key is having the right team to back you up," said Nathan Jenniges, SVP and General Manager at BlackBerry Cybersecurity. "Our philosophy is to combine our technical excellence with our human expertise to provide unparalleled support to organizations of any size. By partnering with our award-winning SOC team, you're essentially augmenting your team with ours, capable of managing the full spectrum of cybersecurity challenges."

CylanceMDR includes hands-on onboarding, alert triage, investigation, managed threat hunting, digital forensics, comprehensive incident response, and critical event management. It's also supported by advisory and tuning services and is backed by a $1M guarantee.

In late May, CrowdStrike and Cloudflare, Inc., the leading connectivity cloud company, announced an expansion of their strategic partnership, connecting their platforms to enhance security from the device to the network, accelerate Security Operations Center (SOC) transformation, and stop breaches at scale. Now combining cloud-native, market-leading Zero Trust protection and connectivity from Cloudflare One™ with best-in-class AI-native cybersecurity from CrowdStrike Falcon® Next-Gen SIEM on the CrowdStrike Falcon® cybersecurity platform, joint channel partners can drive vendor consolidation while reducing cost and operational complexity for customers worldwide.

From the news: Today's adversaries are moving faster than ever across growing threat vectors. Organizations are attempting to manage an array of cybersecurity tools and alerts, and as a result are facing complex, if not already compromised, internal networks. According to Gartner®, "The challenge is intensified by the growing arsenal of security tools designed to address individual security threats in isolation. This drives up the complexity of evaluating, managing and integrating these tools as part of a coherent security strategy." It's critical for organizations across all sectors to have an AI-powered cybersecurity platform that connects remote users, offices, and data centers to converge data, security, and IT, with workflow automation to stop adversaries from moving laterally and further into systems.

Continued: CrowdStrike and Cloudflare are leveraging channel partnerships to deliver a fully integrated solution to global customers from a single API. The powerful combination of cybersecurity from the Falcon platform with Zero Trust protection from Cloudflare delivers the full-scope capabilities SOC teams need to detect and respond to attacks across network, devices, endpoints, cloud, identity, data, and applications.

"CrowdStrike revolutionized cybersecurity with a modern, AI-native platform focused on stopping the breach. Our ability to execute on this mission and continually innovate across critical areas of enterprise risk is why we're recognized as cybersecurity's born in the cloud leader by industry analysts and customers," said Daniel Bernard, Chief Business Officer at CrowdStrike. "The rich dataset from our Falcon platform paired with Cloudflare's robust Zero Trust capabilities provides unprecedented value for global customers. Together, we are converging two of the most critical pieces of the risk management puzzle that organizations of every size must address in order to combat today's growing threats."

Zscaler, Inc., a leader in cloud security, recently announced a collaboration with NVIDIA to accelerate AI-powered copilot technologies. Zscaler will leverage NVIDIA AI technologies to deliver new user experience and security-centric copilot services to the enterprise. The introduction of new AI capabilities, leveraging NVIDIA NIM inference microservices, NVIDIA NeMo Guardrails, and the NVIDIA Morpheus framework, will dramatically increase the ability to process data from the Zero Trust Exchange™ platform, further enhancing Zscaler copilot's ability to proactively defend enterprises against cyber threats and simplify IT and network operations.

From the news: The rapid advancement of AI is becoming a primary game-changer to accelerate cybersecurity innovations. To effectively manage IT operations and combat threats at scale, enterprises must fully harness their massive volumes of data to equip an offensive and proactive security posture. The new Zscaler ZDX Copilot, a first-of-its-kind digital experience monitoring copilot, with NVIDIA NeMo Guardrails, offers network, device, and application performance insights to enable simplified IT support and operations at scale. NeMo Guardrails orchestrates dialog management, delivering accuracy, appropriateness, and security in smart applications with large language models (LLMs). It helps safeguard organizations by overseeing generative AI systems.

Cyber threats are increasing and evolving, so cybersecurity is always in a state of advancement to keep up. Turning to AI to beat the game may be the only solution in this technology revolution we are witnessing. For investors, it is a fast-paced sector to watch and trade - but maybe AI can help find solutions there as well.

For a list of artificial intelligence stocks on Investorideas.com visit here.

For a list of cybersecurity stocks on Investor Ideas visit here.

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FAQ

What is the recent acquisition by Scope AI Corp. (SCPCF)?

Scope AI Corp. has acquired Ovryde's quantum-resilient entropy (QSE) technology to enhance data security against future quantum computing threats.

How much did Scope AI Corp. (SCPCF) pay for the QSE technology?

Scope AI Corp. paid $400,000 and issued 2,800,000 common shares to Ovryde for the QSE technology.

What are the expected benefits of Scope AI's (SCPCF) acquisition of QSE technology?

The benefits include expanded cybersecurity offerings, addressing quantum-computing threats, new revenue streams, regulatory compliance, and market leadership in quantum-resilient security solutions.

What is the projected growth of the AI in Cybersecurity Market?

The AI in Cybersecurity Market is projected to grow from $22.1 billion in 2023 to $147.5 billion by 2033, with a CAGR of 20.8%.

How will Scope AI Corp. (SCPCF) finance the acquisition of QSE technology?

Scope AI Corp. will finance the acquisition with a payment of $400,000 and the issuance of 2,800,000 common shares to Ovryde.

Scope AI Corp.

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