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Web3: A New Dawn for the Internet?

 

In the fast-paced world of technology, a revolutionary concept is gaining traction: Web3. Coined by computer scientist Gavin Wood, Web3 represents a paradigm shift towards a decentralized internet infrastructure, powered by blockchain technology. The traditional internet, often referred to as Web2, is dominated by centralized platforms controlled by a handful of corporations. 

However, Web3 envisions a future where power is distributed among a network of participants, rather than concentrated in the hands of a select few. Navigating Perils and Possibilities of Web3 Since 2018, momentum surrounding elements of Web3 has surged across various sectors, including equity investment, online searches, patent filings, scientific publications, job vacancies, and press reports. 

Particularly, the financial-services industry has emerged as a trailblazer in adopting emerging Web3 technologies and assets. At one juncture, the daily transaction volume processed on decentralized finance (DeFi) exchanges surpassed a staggering $10 billion. Yet, amidst this fervent progress, advancements have been marked by sporadic spurts rather than a seamless trajectory. 

However, if you find yourself grappling with the question of what exactly Web3 entails, you are not alone. A 2022 Harvard Business Review poll, encompassing over 50,000 respondents, revealed that nearly 70 percent admitted to being unfamiliar with the concept. 

In this comprehensive Explainer, we embark on a journey to demystify Web3, exploring its inherent risks and boundless potentials. Through a structured analysis, we aim to shed light on when—or if—this enigmatic vision of the internet will ultimately materialize. 

What This Technology Does? 

At the heart of Web3 lies blockchain technology, a decentralized and immutable ledger system. This foundational technology aims to democratize access and control over digital assets and information by harnessing the collective power of its network. Emerging Elements of Web3 Already, various projects are spearheading the transition to Web3. Decentralized finance (DeFi) platforms and non-fungible tokens (NFTs) are at the forefront, pioneering new methods of interacting with digital assets beyond traditional financial frameworks. 

Advantages and Advocates of Web3 Proponents of Web3 argue that it offers several benefits, including greater transparency, security, and user autonomy. Furthermore, it presents a viable challenge to the dominance of tech giants in the digital realm. 

Technologies Powering Web3: 

A Closer Look At the heart of Web3 are three key technologies driving its decentralized infrastructure: 

Blockchain: Blockchain technology forms the backbone of Web3, offering a decentralized and immutable ledger for recording transactions. For instance, consider Bitcoin, the pioneering cryptocurrency. Its blockchain ensures transparency and security by recording all transactions across a distributed network of nodes, without the need for a central authority. 

Smart Contracts: Smart contracts, coded agreements that automatically execute when predefined conditions are met, play a pivotal role in Web3. Take Uniswap, a decentralized exchange protocol built on Ethereum. Through smart contracts, users can seamlessly exchange tokens without relying on intermediaries, enhancing efficiency and reducing costs. 

Digital Assets and Tokens: Web3 thrives on digital assets and tokens, representing a myriad of value-bearing items existing solely in digital form i.e. CryptoKitties, a blockchain-based game where users collect and trade digital cats. Each CryptoKitty is represented by a unique token on the Ethereum blockchain, showcasing the potential of digital assets to revolutionize ownership and monetization. 

These technologies collectively pave the way for a decentralized internet, empowering users with greater control and autonomy over their digital interactions. As Web3 continues to evolve, its impact on various industries and sectors is poised to be transformative, reshaping the digital landscape as we know it.

FIRST Launched CVSS 4.0, Revolutionizing Cybersecurity Assessment and Risk Management

In a recent development, the Forum of Incident Response and Security Teams (FIRST) has made headlines by unveiling version 4.0 of the Common Vulnerability Scoring System (CVSS). This latest release, following four years since CVSS v3.1, represents a noteworthy advancement in the standard employed for evaluating the severity of cybersecurity vulnerabilities. 

Before Understanding CVSS 4.0, Let’s Delve Into CVSS 

Before we get into CVSS 4.0, it is crucial to grasp the roots of the Common Vulnerability Scoring System. This framework had its beginnings back in 2005 when the National Infrastructure Advisory Council (NIAC) first introduced it. 

It plays a crucial role by providing essential information about vulnerabilities for security teams. Nowadays, the Forum of Incident Response and Security Teams (FIRST), a non-profit organization with over 500 global member organizations, manages CVSS as an open platform. 

CVSS essentially acts as a tool, offering a standardized way to measure the severity of computer system problems. It takes into account factors like the likelihood of exploitation, potential impact, and complexity. These considerations come together to form a score, aiding organizations in deciding which issues to prioritize and how to address them effectively. 

Criticism of CVSS 3.0 which led to CVSS 4.0 

In the realm of cybersecurity assessments, Version 3.0 of the Common Vulnerability Scoring System (CVSS) and the CVSS standard overall have been widely regarded for their effectiveness in gauging the "impact" of vulnerabilities. 

However, a notable shortcoming has been identified in their ability to accurately score the "exploitability" of a vulnerability. Exploitability, encompassing the likelihood of a vulnerability being exploited, takes into account various factors such as user interactions, the proficiency and capabilities of potential threat actors, and the configuration of the system in question. 

Following this, FIRST has come up with CVSS v4.0 to make things simpler and better. This new version is a big change, making scoring easier, more flexible, and accurate. The idea is to fix the problems with the old version, showing risks more realistically. This will help organizations decide which problems to fix first and use their resources better to fix them. 

 CVSS 4.0 - What's New? 

 1. Attack Vector: 

• Considers how close an attacker needs to be to exploit a vulnerability. 
• Determines if the attack can happen over the internet, in the same network, or requires physical access. • Network-based vulnerabilities are seen as more severe. 

 2. Attack Complexity: 

• Describes the conditions beyond the attacker's control needed to exploit a vulnerability. 
• Addresses factors that enhance security or complicate exploit development. 
• Considers whether specific information about the target is necessary for exploitation. 

3. Privileges Required: 

• Outlines the level of access rights an attacker needs before exploiting a vulnerability. 
• Does not focus on how the attacker gains these permissions. 
• Considers the extent of permissions needed for a successful exploit. 

4. User Interaction: 

• Gauges if successful exploitation requires human interaction. 
• Examples include phishing emails needing user clicks or network-based exploits without user involvement. 
• Directly impacts the CVSS score, with non-user interactive vulnerabilities generally considered more severe. 

5. Scope

• Captures if a vulnerability in one component affects resources beyond its security scope. 
• Removed as a base metric in CVSS version 4.0. 

6. Impact Metrics (Confidentiality, Integrity, Availability): 

• Measures consequences if a vulnerability is exploited successfully. 
• Introduced new "Subsequent System" impact metrics to capture effects on systems beyond the vulnerable one. 

7. Exploit Code Maturity: 

• Evaluates the probability of an attacker utilizing the vulnerability. 
• Considers existing exploit strategies, accessibility of exploit code, and real-time exploitation reports. 
• Categories include "Attacked," "PoC" (Proof-of-Concept), and "Unreported." 

Additionally, the optional Supplemental Metrics in CVSS 4.0 provide essential insights beyond standard vulnerability assessment. Safety evaluates human safety risks, Automatable gauges exploit automation potential, Recovery assesses system resilience, Value Density explores resource control, Vulnerability Response Effort aids in response planning, and Provider Urgency standardizes severity assessments from suppliers. Together, these metrics enhance the depth and context of vulnerability analysis for more informed decision-making.

Character.ai's AI Chatbots Soar: Celebrities, Therapists, and Entertainment, All in One Platform

 

Character.ai, a widely recognized platform, allows users to construct chatbots resembling a diverse array of personalities, including the likes of Vladimir Putin, Beyoncé, Super Mario, Harry Potter, and Elon Musk. These chatbots, powered by the same AI technology as ChatGPT, have garnered immense popularity, with millions engaging in conversations with these AI personalities. Described as "someone who assists with life difficulties," the bot has gained popularity for its role in aiding individuals facing various challenges. 

On the other hand, the Psychologist bot stands out for its remarkable demand, surpassing that of its counterparts. This bot, designed to provide psychological insights and support, has captured the attention and interest of users, making it a notable choice within the realm of AI-driven conversation. In a little over a year since its inception, the bot has amassed a whopping 78 million messages, with 18 million exchanged just since November. 

The mind behind the account goes by the username Blazeman98. According to Character.ai, the website sees a daily influx of 3.5 million visitors. However, the platform did not provide details on the number of unique users engaging with the bot. The company from the San Francisco Bay area downplayed its popularity, suggesting that users primarily enjoy role-playing for entertainment. 

Among the most favoured bots are those embodying anime or computer game characters, with Raiden Shogun leading the pack with a whopping 282 million messages. Despite the diverse array of characters, few can match the popularity of the Psychologist bot. Notably, there are a total of 475 bots with names containing "therapy," "therapist," "psychiatrist," or "psychologist," capable of engaging in conversations in multiple languages. 

Among the available bots are those designed for entertainment or fantasy therapy, such as Hot Therapist. However, the ones gaining the most popularity are those focused on mental health support. For instance, the Therapist bot has garnered 12 million messages, while Are you feeling OK? has received a substantial 16.5 million messages. 

The person behind Blazeman98 is Sam Zaia, a 30-year-old from New Zealand. He did not plan for the bot to become popular or be used by others. According to Sam, he started receiving messages from people saying they found comfort in it and that it positively affected them. As a psychology student, Sam used his knowledge to train the bot. He talked to it and shaped its responses based on principles from his degree, focusing on common mental health conditions like depression and anxiety.

Unlocking the Future: How Multimodal AI is Revolutionizing Technology

 


In order to create more accurate predictions, draw insightful conclusions and draw more precise conclusions about real-world problems, multimodal AI combines multiple types or modes of data to create more reliable determinations, conclusions or predictions based on real-world data. 

There is a wide range of data types used in multimodal AI systems, including audio, video, speech, images, and text, as well as a range of more traditional numerical data sets. In the case of multimodal AI, a wide variety of data types are used at once to aid artificial intelligence in establishing content and better understanding context, something which was lacking in earlier versions of the technology. 

As an alternative to defining Multimodal AI as a type of artificial intelligence (AI) which is capable of processing, understanding, and/or generating outputs for more than one type of data, Multimodal AI can be described as follows. Modality is defined as the way something manifests itself, is perceived, or is expressed. It can also be said to mean the way it exists. 

Specifically speaking, modality is a type of data that is used by machine learning (ML) and AI systems in order to perform machine learning functions. Text, images, audio, and video are a few examples of the types of data modalities that may be used. 

Embracing Multimodal Capabilities


A New Race The operator of the ChatGPT application, OpenAI, recently announced that the models GPT-3.5 and GPT-4, have been enhanced to understand images and can describe them using words. They have also developed mobile apps that feature speech synthesis, allowing them to have dynamic conversations with artificial intelligence using mobile apps. 

After Google's Gemini, an upcoming multimodal language model, was reported to be coming soon, OpenAI has begun speeding up its implementation of multimodality with the GPT-4 release. Using multimodal artificial intelligence, which combines various sensory modalities through seamless integration to provide a multitude of ways for computers to manipulate and interpret information, has revolutionized the way AI systems are able to do so.

Multimodal AI systems are able to comprehend and utilize data from a wide variety of sources at the same time, unlike conventional AI models that focus on a single type of data. Multimodal AI can handle text, images, audio, and video all at the same time. Multimodal AI is distinguished by its capacity to combine the power of various sensory inputs to mimic the way humans perceive and interact with the world around them, which is a hallmark of multimodal AI. 

Unimodal vs. Multimodal


Nowadays, most artificial intelligence systems are unimodal. They have been designed and built to work with a particular type of data exclusively, and their algorithms have been tailor-made specifically for that specific type of data. 

Using natural language processing (NLP) algorithms, ChatGPT, for example, is able to comprehend and extract meaning from text content and is the only kind of AI system that can produce text as output. Nevertheless, multimodal architectures are capable of integrating and processing multiple forms of information simultaneously, which in turn enables them to produce multiple types of output at the same time. 

In the event future iterations of ChatGPT are multimodal, for instance, marketers could prompt the bot to create images that accompany the text that is generated by the generative AI bot, for example, if the bot uses the generative AI bot for creating text-based web content. 

A great deal has been written about unimodal or monomodal models, which process just one modality. They have provided extraordinary results in fields like computer vision and natural language processing that have advanced significantly in recent decades. In spite of this, the capabilities of unimodal deep learning are limited, making multimodal models necessary. 

What Are The Applications of Multimodal AI?


It may be possible to ensure better communication between doctors and patients by employing the use of healthcare, especially if the patient has limited mobility or does not speak the language natively. A recent report suggests that the healthcare industry will be the largest user of multimodal AI technology in the years to come, with a CAGR of 40.5% from 2020 to 2027 as a result of the use of multimodal AI technology. 

A more personalized and interactive learning experience that allows students to adapt their learning style to the needs of their individual learning style can improve the learning outcomes for students. The older models of machine learning used to be unimodal, which meant that they were only capable of processing inputs of one type. 

As an example, models that are based exclusively on textual data, such as the Transformer architecture, focus only on output from textual sources. As a result, the Convolutional Neural Networks (CNNs) are designed to be used with visual data such as pictures or videos. 

OpenAI's ChatGPT offers users the opportunity to try out a multimodal AI technology based on multimodal communication. In addition to reading text and files, the software can also read images and interpret them. Google's multimodal search engine is another example of a multimodal search engine.

Basically, multimodal artificial intelligence (AI) systems are specifically designed for understanding, interpreting, and integrating multiple different types of data, be it text, images, audio, or even video, in their core functions.

With such a versatile approach, the AI is better able to understand local and global contexts, thus improving the accuracy of its outputs. While multimodal AI may be more challenging than unimodal AI in terms of user interface, there is also evidence to suggest that it could be more user-friendly than unimodal AI in terms of providing consumers with a better understanding of complex real-world data.

Researchers and researchers are working on addressing these challenges in areas like multimodal representation, fusion techniques, large-scale multimodal dataset management, and multimodal data fusion to push the boundaries of current unimodal AI capability which is still at the beginning stages of development. 

In the coming years, as the cost-effectiveness of foundation models equipped with extensive multimodal datasets improves, experts anticipate a surge in creative applications and services that harness the capabilities of multimodal data processing.

Learn How Blockchain Technology Will Revolutionize Passport System in the World

In this era of advanced technology, passports are undergoing a significant transformation. The integration of blockchain technology into passport systems represents a major upgrade. This innovation can potentially enhance safety and efficiency, benefiting travelers and governmental authorities alike. It promises a more secure and seamless travel experience for everyone involved. 

In the conventional passport system, three major challenges demand immediate attention for a more effective approach to identity verification and travel documentation. 

Security Vulnerabilities: Traditional passports, relying on centralized databases and physical stamps, are susceptible to counterfeiting and fraudulent activities. Exploitation of these vulnerabilities by criminal elements can compromise the integrity of the passport system, posing a significant threat to global security. 

Cumbersome Verification Processes: Verifying traditional passports often entails manual checks and intricate bureaucratic procedures. This results in prolonged waiting times at border crossings and airport checkpoints, causing inconvenience to travelers and placing strain on border control resources. 

Privacy Concerns: The centralized storage of sensitive personal information in traditional passports gives rise to legitimate privacy concerns. Individuals may be uneasy about their data being concentrated in a single centralized authority, increasing the risk of unauthorized access or misuse. 

Addressing these challenges is crucial for advancing the reliability and efficiency of identity verification and travel documentation processes. However, blockchain technology could be a cornerstone in fortifying the security of passport systems for several reasons: 

Advanced Security Measures: Through its decentralized and unalterable ledger, blockchain provides an unprecedented level of security. Once information is logged, it is impervious to any form of tampering or modification, creating a robust defense against fraudulent activities. 

Perpetual Data Integrity: Data stored on a blockchain is everlasting and remains impervious to modification. This guarantees the trustworthiness and reliability of passport information, effectively minimizing the risks associated with identity theft or forgery. 

Distributed Architecture: In contrast to conventional centralized databases, which are susceptible to cyberattacks, blockchain operates on a decentralized network. This disperses data across multiple computers, significantly lowering the likelihood of a single point of failure. 

Enhanced Operational Efficiency: Blockchain technology has the potential to optimize the verification process, leading to reductions in both time and resources expended on manual checks. This can result in more streamlined and expeditious procedures at border crossings and airports. 

Empowered Privacy Management: Blockchain can be configured to grant individuals greater control over their personal data. They have the authority to dictate which information is shared and with whom, mitigating the risks of unauthorized access. 

Facilitated Interagency Communication: Blockchain can enable seamless communication among diverse government bodies and international entities. This can result in heightened coordination in realms such as immigration, border control, and security. 

Immutable Documentation: Once a passport is issued and its details are logged on the blockchain, it becomes an impervious document. This ensures the unyielding integrity and permanence of the data throughout the passport's validity period. 

Using blockchain technology, run and shared only by governments, could be a revolutionary step for everyone. It will make things cheaper, and faster, and push us forward into the next era.

When Will Robots Take Over Your Household Chores?

Researchers at MIT's Computer Science and Artificial Intelligence Laboratory are striving to create a future where robots take on tasks like brewing coffee and arranging dining tables. The scientists at MIT are using simulations to teach robots how to handle household chores. This training is crucial to ensure that robots can assist us at home effectively without causing any problems. 

What may seem effortless to us involves a highly intricate series of instructions for an imaginary robot. To tackle this challenge, the scientists developed digital representations of humanoid robots within a simulation. These virtual robots can dissect each task into tiny, manageable steps known as "atomic actions." 

What are atomic actions in robotics? 

Atomic actions in robotics are the basic building blocks for teaching robots how to do things. They are small, fundamental steps that can't be broken down any further and are crucial for making robots perform tasks accurately and efficiently. Think of them as the simple, essential actions robots need to learn before doing more complex stuff. 

Here are some everyday examples: 

  • Grasping: Robots need to learn how to grab things, like picking up a cup without dropping it. Lifting: They must know how to lift objects safely and precisely.
  • Walking: For humanoid robots, it's about taking balanced steps without falling. Pouring: When pouring a drink, robots need to tilt the container just right to avoid spills.
  • Button Pressing: Pressing a button involves a sequence of actions, like moving an arm to the button and pressing it.
  • Screw Tightening: Robots must learn to turn screws accurately, not too loose and not too tight.
  • Measuring: If they're helping in the kitchen, they need to pour ingredients accurately. 
  • Typing: When using a keyboard, each keypress is like a tiny step. 
Imagine these atomic actions as the basic skills a robot needs, and you can combine them to teach the robot more complicated tasks. 

Geordie Rose, who leads Sanctuary Al and has a background in theoretical physics and previously founded a quantum computing company believes that there's a huge opportunity in the future. They are creating a special humanoid robot called Phoenix. This robot will be really smart. It will understand what we want, how things work, and be able to do tasks we ask it to do. 

"The long-term total addressable market is the biggest one that's ever existed in the history of business and technology - which is the labor market. It's all of the things we want done," he added. 

But before we get too excited, Geordie Rose adds that we still have a lot of work to do to make this a reality. He does not want to predict when a robot will be in your home doing chores like laundry or cleaning the bathroom. However, some experts in the field believe it could happen within the next ten years. 

There are many other companies worldwide also working on this technology. For example, in the UK, Dyson is investing in artificial intelligence and robots that can help with household tasks. One of the most well-known companies in this field is Tesla, the company known for making electric cars and led by Elon Musk. They are developing a humanoid robot called Optimus, and Musk suggests that it might be available for regular people to buy in just a few years. 

Furthermore, Mr. Rose added that,"Ten years at the pace the technology is moving now is an eternity. You know, every month, there are new developments in the AI world that are like fundamental change."

Europe's AI Regulation Against AI Era

 

In a momentous UN summit held in Geneva on July 7, 2023, Doreen Bodgan-Martin, the Secretary-General of the International Telecommunications Union, proclaimed the arrival of the AI era. This declaration followed the European Union's groundbreaking AI regulation, which has sparked discussions about the potential for similar initiatives worldwide. 

Acknowledging the significance of AI's impact on global affairs, Secretary-General Antonio Guterres, during a historic UN Security Council meeting 11 days later, expressed agreement with the sentiments shared by nations and regulators alike. The European Union's AI Act stands as a potential blueprint for global AI regulation. Its comprehensive approach and forward-thinking measures could set the standard for countries worldwide. 

The need to shield citizens from potential AI-related harms, both known issues like discrimination, privacy violations, and copyright theft, as well as unforeseen challenges, has garnered attention from influential entities. However, the approach to address these concerns has varied across nations. Rather than adopting a comprehensive approach, many countries have opted to regulate AI sector by sector, similar to how aircraft design and flight safety are managed individually. 

This sector-specific regulation has had mixed results, as evidenced by the infamous case of the Boeing 737 MAX, which faced regulatory failure and was grounded for an extended period following two fatal crashes that claimed 346 lives within five months. This serves as a poignant reminder of the importance of a robust and cohesive regulatory framework to navigate the complexities of AI while prioritizing citizen safety and well-being. 

Several fields, including medical information (in robot surgery and scan analysis), automated vehicles (like Tesla's robot taxis and 'Full Self Drive'), and social media policing against disinformation, have proactively regulated AI. Some countries like the US, Japan, and the UK believe that adaptive sectoral regulation and potential international agreements are sufficient, without the need for further regulation beyond the G7 Hiroshima Process. 

China has taken a stringent approach to AI regulation, akin to its control over social media, where it has prohibited Facebook, Google, and TikTok from operating within its borders, despite TikTok's Chinese parent company. On the other hand, liberal democracies are unlikely to adopt China's approach but may still pursue stricter AI regulations compared to the US, UK, and Japan. 

In contrast, the European Economic Area, representing the largest consumer market, is moving forward with its 'AI Act,' which is, in reality, a European Regulation on AI. This comprehensive framework aims to govern AI technology within the region and sets an example for other nations grappling with the challenges of AI governance and consumer protection. 

By 2024, the EU's AI Act and the Council's AI Convention will be finalized. Other liberal democracies, including Australia, UK, Brazil, Japan, and US, are anticipated to adopt and adapt these laws.

CISOs Leading Cyber Risk Engagement with C-Suite & Board

 

In a significant move to enhance cybersecurity measures, the Securities and Exchange Commission (SEC) has recently approved new regulations. These rules mandate that public companies must promptly disclose any cybersecurity breaches within a strict four-day timeframe. Additionally, the SEC requires these companies to elevate their Board's proficiency in handling cyber risk and overseeing cybersecurity matters. 

The proposal for these regulations was initially introduced in 2022, and the final decision was reached in July 2023, marking a crucial step in bolstering cybersecurity practices in the corporate sector. Over time, computing technologies have witnessed an extraordinary exponential growth through distinct eras. 

Initially, we saw the dominance of centralized mainframes, which later gave way to microcomputers and personal computers (PCs) during the 1990s. The subsequent era was marked by the rise of the internet, followed by the revolutionary surge in mobile devices during the 2000s. As we moved into the 2010s, the expansion into cloud computing emerged as a pivotal trend, reshaping the landscape of technology and opening new possibilities for the future. 

Successful engagement with the C-suite hinges on establishing a clear and straightforward link between cyber risk and business risk. The key lies in presenting a comprehensive understanding of the severe implications that such attacks could have on essential business objectives. By doing so, organizations can foster a deeper appreciation of cybersecurity's critical role in safeguarding their core business interests. 

As cyber threats evolve, the regulatory environment surrounding cyber risk is also evolving. The recent implementation of new SEC regulations has spurred a transformation in boardrooms' approach to cyber resilience in the digital era. Recognizing the pressing need for proactive data protection and defense, boardrooms are now more committed than ever to providing organizations with the necessary resources to effectively safeguard their data and fend off cyber attacks. 

This shift marks a significant step towards fortifying organizations against the ever-changing cyber landscape. This paradigm shift is causing a ripple effect, leading to increased demand for insights and counsel from security leaders by their Boards. 

According to a recent CAP Group Study, a staggering 90% of companies listed in the Russell 3000 index lacked a single director possessing the required cyber expertise. Consequently, CISOs are now stepping into the spotlight and being tasked with establishing and maintaining open lines of communication throughout the boardroom. Their expertise and ability to bridge the knowledge gap are becoming pivotal in guiding organizations towards effective cyber risk management and resilience.