Today's News

Victoria, BC, July 31, 2023--(T-Net)--Plurilock Security Inc. (TSXV: PLUR) and related subsidiaries, an AI cybersecurity solutions provider for workforces, has announced its intention to leverage its stable of industry-leading cybersecurity products and services to provide organizations with tools to make employee AI use safe and effective as they roll out Plurilock's cyber defense and emerging threat protection solutions.

Generative AI use has seen unprecedented exponential growth during 2023 thanks to its epoch-defining productivity capabilities:

• Finance departments can use AI to rapidly produce financial reports, forecasts, and statements from raw data
  
  
• Human resources departments can use AI to rapidly generate performance reports, summarize personnel files, write termination letters and reprimands from raw data
  
  
• Engineering departments can use AI to rapidly write complex code, debug existing code, or develop integrations from raw data
  
  
• Physicians and other practitioners can use AI to rapidly propose differential diagnoses from complex case files provided as raw data

On the strength of these abilities, the market for generative AI is expected to reach US$1.3 trillion by 2032, with companies increasingly expecting performance improvements across the board using AI.1

However, as they engage in such tasks today, the raw data that employees provide to enable AI work is often confidential or proprietary company data, representing an immense flood of sensitive data leakage every day and an economy-wide data safety problem that spans the globe.

Many forms of data, including data associated with veterans, human resources, loan decisions, healthcare, workplace injuries, and others can be subject to a growing list of regulations and regulators, including NYDFS, HIPAA, GDPR, PIPEDA, CCPA. Mishandling data, even through inadvertent disclosure to a tool that lacks accreditation, can result in fines upwards of 4% of a company's revenue, as in the case of GDPR.2

Attacks targeting generative AI tools have already been reported, with an alleged 100,000 ChatGPT accounts for sale on dark web marketplaces. These ChatGPT accounts could include data that users type into the application, which might include confidential data and proprietary source code.3

Security teams as a result are clamping down the use of generative AI. To illustrate the scope of the problem, the Company points to widespread reports that major enterprises including Apple, Samsung, JP Morgan, Bank of America, Goldman Sachs, Citigroup, and Deutsche Bank have banned or restricted employee AI use.4,5

As a leading cybersecurity provider founded on AI, with an AI and data science team including multiple in-house PhDs, the Company says it is positioning customers to succeed and thrive in the new AI landscape by acting as a one-stop AI consultancy that:

• Assists customers with AI deployment and sound data management
• Provides expert planning and guidance for AI adoption strategy
• Works with customers to develop internal AI governance for safe use

Ian Paterson, CEO, Plurilock Security Solutions Inc.

"Over the last several weeks, I have had dozens of conversations with senior IT and cybersecurity leaders that are struggling with AI adoption," said Ian L. Paterson, CEO of Plurilock. "Employee use of generative AI is increasing faster than can be contained. I frequently hear that the use of generative AI is the next smartphone in terms of the speed at which employees are bringing their own devices (BYOD) and using these tools on corporate data and for business purposes."

Mr. Paterson added, "The risk to companies by misusing, misappropriating, or not securing their data in conjunction with AI use could be existential. At the same time, senior leaders fear lagging behind their competitors who are deploying AI technologies. These leaders are caught between a rock and a hard place - their competitors are using AI, yet they need to maintain data confidentiality-and they're having to confront all of this while avoiding the ransomware and cyberattacks that are affecting their peers."

As a public service, the Company has also announced the availability of a free, highly detailed generative AI governance policy template for corporate employees or policy handbooks. The template is designed to ensure that all organizations have access to the resources needed to begin to consider and adopt AI usage and governance policies, and is available at https://plurilock.com/safety4ai/ as a PDF download under a Creative Commons license.

Mr. Paterson says that the entire organization is focused on this mission, adding that "at Plurilock, we live at the intersection of AI and cybersecurity-and we believe that today the market is desperate for AI safety services and solutions that Plurilock is uniquely able to provide. Generative AI looks to be the next gold rush, and it needs adequate picks and shovels to use it safely."

About Plurilock

Plurilock secures workforces in the age of AI through its Plurilock AI platform, delivering advanced identity, access management, data safety, and AI safety solutions to commercial and government customers worldwide.

With patented artificial intelligence and patented real-time identity confirmation technology, Plurilock AI enables zero-trust architecture and threat detection and response capabilities for regulated organizations with remote workforces.

Through its Solutions Division, Plurilock aggregates world-class IT services and brings a comprehensive line of products that enable teams across North America and the globe to compute safely in a remote work world.