|By Business Wire||
|October 19, 2016 01:30 AM EDT|
WISeKey International Holding Ltd (WIHN.SW) (“WISeKey”), a leading Cybersecurity and IoT company, today announced its new platform - WISeAI – which will be integrating the Root of Trust and IoT embedded devices with problem-solving Artificial Intelligence (“AI”) solution into WISeKey’s Vertical Platform.
While IoT remains wildly insecure, thanks to the integrated solution operated by the WISeKey Vertical Platform, IoT devices would be able to organize themselves into trusted networks based on mutual authentication, identity and integrity. This trusted cybersecurity platform will only enable IoT devices which can provide a recognized identity and a valid integrity report to communicate with peer devices that are part of the trusted community.
Adding AI at the chip level together with the WISeKey RoT it will allow the IoT to provide authenticated sensor data. Current IoT data do not provide value for their manufacturers unless it can be converted into actionable, contextualized information generated by IoT sensors fully identifiable. The majority of IoT devices are not built with embedded secured systems thus are very vulnerable. By integrating AI into the WISekey RoT and Vertical Platform, objects can develop their own cybersecurity behavior, thus making smarter and safer decisions. IoT objects with this technology will learn from attacks, defend them and transfer this intelligence via the WISekey Vertical Platform to other IoT objects pear to pear using a blockchain.
WISekey will include AI solution at the integrated circuits allowing AI to be hosted on a hardware vault with the highest level of certification able to encrypt communications and authenticate the devices. This will also allow AI to leverage the massive big data generated by the deployment of WISeKey’s RoT now embedded in more than 2.5 billion devices worldwide benefitting from the strong cryptographic capabilities deployed in all sorts of IoT products.
Addressing fast growing IoT market
The ability to authenticate and remotely manage millions of networked, automated devices and equipment is becoming pervasive − from factory floors, to hospital operating rooms, to residential homes – including billions of objects and devices from refrigerators, watches, wearables to wine bottles – everything that can connect and communicate via the Internet.
The IoT security market is expected to grow from $6.89 billion in 2015 to nearly $29 billion by 2020 according to a report published by Markets and Markets, thus growing at an annual rate of 35%. These massively deployed connected objects are facing regular attacks hence generating a large need for trusted end-to-end cybersecurity solutions. This problem is affecting billions of people and IoT devices worldwide, and manufactures of these devices could be forced or incentivized to spend money to make their devices secure, as regulators might impose liabilities on them.
Our computers and smartphones are as secure as they are because there are teams of specialized security experts working in companies like Google, Microsoft, Apple etc. ensuring their customers are protected. These companies spend a lot of time testing their code before it's released, and quickly patch vulnerabilities when they're discovered. Those companies can support such teams because those companies make a huge amount of money, either directly or indirectly, from their software—and, in part, compete on its security. This isn't true for IoT hardware manufacturers putting unprotected IoT on the market sold at a much lower margin, and are often built by offshore third parties. The companies involved simply don't have the expertise to make them secure.
“The combination of IoT Cybersecurity technologies developed by WISekey with Artificial Intelligence solutions are a game changer in our industry. This new platform opens up many possibilities for improving the overall security functionalities and creating new business processes by taking advantage of the world of digital identification at the object level, which once combined with big-data allows us to gather and process all available information and generate actionable insights," said Carlos Moreira, Founder and CE WISeKey.
WISeKey (SIX Swiss Exchange:WIHN) is a leading cybersecurity company and selected as a World Economic Forum Global Growth Company. WISeKey is currently deploying large scale Internet of Things (“IoT”) digital identity ecosystems and has become a pioneer of the “4th Industrial Revolution” movement launched this year at the World Economic Forum in Davos. WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) integrates wearable technology with secure authentication and identification, in both physical and virtual environments, and empowers IoT and wearable devices to become secure transactional devices. The RoT serves as a common trust anchor, which is recognized by the operating system and applications, to ensure the authenticity, confidentiality and integrity of on-line transactions. With the cryptographic RoT embedded on the device, the IoT product manufacturers can use code-signing certificates and a cloud-based signature as a service to secure interactions among objects and between objects and people. WISeKey has patented this process in the USA as it is currently used by many IoT providers.
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.
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