News

A recent survey by cybersecurity solutions provider Sophos titled “The State of Ransomware in Manufacturing and Production 2023” reveals concerning findings in the manufacturing sector. The survey found that 68% of ransomware attacks on manufacturing companies resulted in successful data encryption, marking the highest encryption rate in the past three years. This aligns with a broader trend across sectors where attackers are increasingly successful in encrypting data.

Arctech, a U.S.-based solar tracking, racking and building-integrated photovoltaics (BIPV) provider, will supply an 11.457-megawatt (MW) SkyLine II solar tracking solution for a project by Nextcom Ltd in Israel. This project represents Arctech’s first solar tracking endeavor in Israel and marks a significant milestone in the Middle East market.

A recent survey by DBS Hong Kong has revealed valuable insights into the perspectives of small and medium enterprises (SMEs) in the city. The survey revealed that an overwhelming majority of SMEs, 93% to be precise, consider digitalization essential for their business growth. However, funding emerged as a major challenge for 57% of the surveyed SMEs when it came to implementing digitalization initiatives.

Enterprise automation platform Workato has introduced AI@Work, a suite of product updates that enable enterprises to adopt AI for automation and enhance business efficiency. These updates, integrated into the Workato platform and leveraging OpenAI technologies, offer a seamless way to incorporate AI at scale.

KPMG in Singapore, a professional audit, tax and advisory service provider, is investing US$50 million over the next five years to drive financial services innovation, enhance environmental, social and governance (ESG) capabilities and support businesses in their innovation and transformation efforts.

IBM (NYSE: IBM) disclosed its intentions to grow its collaboration with Adobe to assist brands in optimizing their content supply chains via the use of sophisticated artificial intelligence (AI) technology such as Adobe Sensei GenAI services and Adobe Firefly (now in beta).

Hong Kong-based Oi Wah Pawnshop Credit Holdings Limited (HKEx stock code: 1319.HK) and PACM Group (Holdings) Limited have recently signed a memorandum of understanding (MOU) to collaborate on the development of an international real estate private credit institutional investment management business and the establishment of an investment fund of up to US$300 million.