Thursday, October 26, 2023

Real money!

https://www.cpomagazine.com/cyber-security/lloyds-of-london-cyber-attack-on-major-payments-system-could-cost-the-world-3-5-trillion/

Lloyd’s of London: Cyber Attack on Major Payments System Could Cost the World $3.5 Trillion

Leading insurer Lloyd’s of London has issued a dire warning about a potential cyber attack scenario on one of the world’s major payments systems, estimating that the global cost would total about $3.5 trillion and that much of the recovery cost would not be covered by insurance policies.

The Lloyd’s scenario imagines a successful malware attack on major transaction software that is commonly used, which then moves downstream to infect potentially tens of thousands of partner payment networks. The financial damage would be spread over a five-year period, with the United States bearing almost a third of the cost alone.



(Related) Take any of the stories where AI takes over the world and substitute “dim-witted pigeons” for AI and things don’t sound as bad.

https://news.osu.edu/dim-witted-pigeons-use-the-same-principles-as-ai-to-solve-tasks/

Dim-witted’ pigeons use the same principles as AI to solve tasks

A new study provides evidence that pigeons tackle some problems just as artificial intelligence would – allowing them to solve difficult tasks that would vex humans.

Previous research had shown pigeons learned how to solve complex categorization tasks that human ways of thinking – like selective attention and explicit rule use – would not be useful in solving.

Researchers had theorized that pigeons used a “brute force” method of solving problems that is similar to what is used in AI models, said Brandon Turner, lead author of the new study and professor of psychology at The Ohio State University.

But this study may have proven it: Turner and a colleague tested a simple AI model to see if it could solve the problems in the way they thought pigeons did – and it worked.



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