Data Security Solutions for Fintech Startups

The fintech sector has brought consumers an endless stream of modern offerings that have enabled them to ditch several outdated banking and lending products.

Companies now have advanced B2B payment solutions at their fingertips, and online financial solutions have never been more convenient - largely thanks to the progress made by fintech startups.
But, despite being on the cutting edge of digital financial products, young fintech companies are at a disadvantage in a wildly important arena: data security.

Table of Contents

- What is Data Security?
- The Importance of Cyber Security in Fintech
- Data Security Challenges Faced by Fintech Startups
- Modern Fintech Data Security: Trends and New Innovations

With limited resources, growing compliance regulations around the world, and a constantly-evolving list of increasingly dangerous cyber threats, fintech startups face a uniquely difficult uphill battle.
And, with data breaches continuing to leer as an ever-present security threat, fintech firms are turning to new and advanced approaches to data privacy.

But, first, what do we mean when we talk about data security for startups?


What is Data Security?

Data security is the process of protecting digital assets - like information stored in a database - from unauthorized access by unapproved actors.

When we refer to data security, we’re simply talking about the set of standards and technologies that protect your business’ data. These days, data security is a fundamental aspect of IT at any modern organization.

From encryption and tokenization to cloud storage, data security technologies run a wide spectrum - and a number of advances have been made in recent years. This progress has been in response to, though not quite as speedy as, the growing sophistication of large-scale cybersecurity threats - like data breaches.

In the healthcare sector, for example, Black Book Market Research found that 96% of healthcare IT professionals agreed that data security attackers are outpacing their medical enterprises.

Healthcare data breaches will cost the industry $4 billion by the end of the year. Next year, by Black Book’s estimates, will be even worse.

And that’s just the healthcare sector.

Organizations from all industries are vulnerable to data breaches - especially in the age of ID verification, endless online payment methods and 1-click purchasing.

Even multinational tech giants have fallen prey, in extremely public ways. Yahoo just reached a $117.5 million class-action settlement with the victims of its infamous 2016 data breach.

That announcement came on the heels of a $700 million settlement that Equifax reached to deal with the aftermath of a 2017 data leak that exposed the Social Security numbers of almost 150 million consumers.

We could keep going down the list - data breaches happen, and they happen to organizations with ample resources invested in information security.

What about smaller organizations?


The Importance of Cyber Security in Fintech

Financial technology companies have revolutionized the way that consumers bank, how startups reach their customers and how businesses all over the world can run more smoothly.

Fintech investments took off in the past five years - providing us with simple alternatives to slow, conventional financial solutions.

Advances in the industry has brought us instant P2P payments, purely-online banking, seamless B2B solutions, innovative lending approaches and products that many businesses and consumers can’t even imagine living without at this point.

But the global fintech ecosystem’s consistent growth, potency and complexity make it inescapable that some solutions won’t be secure enough to guard against sensitive data exposure. It’s likely that these vulnerabilities will keep getting identified by attackers, then exploited.

This is a harsh reality that modern businesses are realizing - and starting to invest against.

We can see this when we look at application security spending. Businesses are pouring money into protecting their applications and the data flowing through them.

According to Market Research Future (MRFR), the worldwide application security market is expected to reach a staggering $9.64 billion by 2023 - up from just $2.56 billion in 2017. That’s an annual growth rate (CAGR) of 24.95%.

Within this market, SMEs are estimated to be the fastest growing investors in application security, when broken down by type of organization.

Unfortunately, when it comes to data privacy and protecting sensitive information, fintech startups face a unique set of challenges that make growing their core business an even more difficult endeavor than it already is.

Data Security Challenges Faced by Fintech Startups

In the world of securing sensitive data and avoiding data breaches, younger organizations in the fintech space have it especially hard.

Why is that so?

1. Reliance on sensitive user information

These days, fintech and data analytics go hand-in-hand. From robo advisors to AI-powered saving apps, data-driven technologies have been at the heart of the fintech revolution.

With fintech products deeply intertwined in modern retail banking, asset and wealth management, capital markets and insurance, organizations in this space are inevitably going to have to handle and store sensitive information from your users.

From ID verification to processing credit card payments, large volumes of sensitive data will make its way onto the databases of fintech organizations. The mere possession of such sensitive consumer information puts them both at risk of sensitive data exposure and places them within the scope of any number of data privacy laws.

2. New, updating and evolving data privacy laws

The nature of how fintech startups do business make it so that a lot of sensitive data hits their systems, which attracts the interest of government regulators - who are increasingly focused on protecting consumer data.

In the last few years, governmental regulatory institutions around the globe have started to take greater steps in protecting the rights of consumers when it comes to their personal information.

From Europe’s General Data Protection Regulation (GDPR), effective since 2018, to the soon-to-be-implemented California Consumer Protection Act (CCPA), businesses are suddenly needing to juggle compliance certifications for new regulatory frameworks.

Not only that, but fintech companies that accept or process credit card transactions have already been saddled with the burden of needing to maintain compliance with PCI DSS - a set of requirements that are aimed at preventing credit card fraud.

3. Limited resources for securing personal data

To successfully prevent data breaches and - simultaneously - meet the complex requirements set forth by legal frameworks like the GDPR, the CCPA and PCI DSS, you’re going to need a team of information security experts and compliance specialists that can create data flow maps, secure your networks and sensitive data storage solutions, ensure that you’re meeting regularly compliance rules… the list goes on.

Conglomerates have the resources to put towards a large-scale data security effort, but fintech startups have much less at their disposal.

4. Increasingly sophisticated cyber threats

As mentioned above, even some of the most widely-recognized tech brands have suffered from data breaches. From increasingly sneaky malware to highly-targeted phishing attacks, which skyrocketed 250% higher last year, there are simply too many ways for threat actors to gain access.

It just takes one team member on the wrong end of a phishing campaign to trigger a sensitive data exposure event - which can ruin a startup-stage business overnight.

And it’s not just unauthorized malicious actors that fintech startups need to be worried about, as there are threats coming from all angles - even some unexpected ones.

According to Verizon’s Insider Threat Report, 57% of database breaches involved some kind of insider threat from within an organization. Add that to the possibility of accidental sensitive data sharing and ransomware attacks, and covering all your bases becomes a costly and complex endeavor.


Modern Fintech Data Security: Trends and New Innovations

Thankfully, advances in the realm of data security have sprung up in recent years, helping relieve much of this pressure faced by fintech startups that need to secure their sensitive data.

From tokenization to data encryption, fintechs have employed a number of tried-and-true data security methods. Even with innovative approaches like these, however, data breaches are still a probable threat.

If sensitive data is stored in your database, there is a chance it will be exposed, and there are several avenues through which this could happen.

Fortunately, VGS has been securing fintech startups’ sensitive data for years using a next-generation data security approach that enables businesses to evade storing sensitive information on their systems altogether - while still enabling businesses to reap all the benefits of the original data.

This approach is called data aliasing, which is a technique that redacts sensitive information in real-time and replaces it with a synthetic data alias, enabling organizations to offload their data security responsibilities entirely by keeping the original data off their systems.

Businesses simply put their data security burden in the hands of VGS, which takes care of all sensitive data collection, storage and transfer on their behalf.

With their systems significantly freed from sensitive data, businesses’ data security and compliance scope is drastically minimized - enabling them to spend time focusing on innovating their products instead of designing a complex data privacy policy.


This article was originally posted on Very Good Security.

How To Get Innovation From Service Providers and Vendors

Companies today hold all business functions to a mandate for innovation. Innovation should create business value (a better experience for employees, customers, and partners). It should create agility and speed. It should make business functions more easily adaptable, easier to change. And it should also lower the cost of the functions over time. The benefits are clear and obvious. But the truth is innovation is illusive and hard to get.

It’s hard to get because innovation is disruptive. It sets off change. Change is painful. Institutions resist change because it’s ambiguous. Implications cascade across many dimensions and across all components of the operating model.

Most organizations’ approach to innovation is episodic. Innovation occurs in unexpected and serendipitous ways. Someone uncovers a new technique, a new source of talent or a new relationship with a stakeholder. An executive gets an idea, a vendor brings new technology or a competitor does something to gain an advantage. All these things create opportunities for innovation. But the ability to get an organization and its business processes and functions to adopt it is hard.


Because change is so painful, organizations find it easier to maintain the status quo. That’s also the case with vendors and third-party service providers.

Why Service Providers Don’t Innovate For Customers

One of the most frequent comments we at Everest Group hear when talking to executives responsible for a service line is “We don’t get innovation. We believe that there is more innovation to be had, but it’s very difficult to get our organization (and particularly our vendors) to not only bring us innovative ideas but also do it in their service lines.”

It’s all very well for a provider or vendor to use an innovative idea to try to take work from other vendors. But that unleashes a huge amount of change. It would be much better if a company’s existing vendors would bring innovation in the services they deliver. Although companies frequently ask for that, they are also just as frequently disappointed.

Companies find it’s much more desirable to get innovation from their incumbent providers than it is to introduce new providers. They don’t want to go through the expense, dislocation and change management of shutting down one provider and standing up another. But it’s hard to get incumbent providers to innovate. They are not incented to bring innovation. They have an incentive to maintain the status quo. Furthermore, they may have incentives to take costs out, but they would rather capture that cost themselves and increase profit margins than bring it through increasing value. They see innovation as a means to charge more, not do a better job.

Some providers try to use innovation to open adjacencies and grow new service areas, but fundamentally this is a conflict. Furthermore, providers struggle with revenue compression. Many innovations create efficiencies and, therefore, reduce the amount of revenue they can get for the same function. That creates a conflict of interest for them. Like all businesses, providers want to grow their revenue as well as their profit, but asking them to innovate is asking them to do something that will shrink their revenue, at least in the areas in which they apply it. They operate in a PxQ = R model (price times quantity = revenue). If you shrink the Q, which is the bigger number, the revenue inevitably falls.

How To Drive Your Service Provider To Innovate

The answer to the innovation dilemma is to think of innovation for every one of your company’s business services (a business process or function) as a journey. Don’t think about trying to drive innovation in big, incremental step changes. That approach is very difficult and ends up

Think of it on an ongoing monthly basis. Set up an environment in which you bring ideas to the internal organization and the vendor community as to how they can change.

Recognize that it’s very difficult to do this in step-change functions. That ends up requiring that your company replace its vendors, which I’ve already discussed as not advisable or, at least, only a second option. If you’re looking to drive ongoing innovation out of your incumbent vendors, you need to approach it as a journey.

Recognize that much of the challenge of innovation is change management. You need data and insight to drive institutional conviction so the organization can understand the benefit and how to overcome resistance and move down that path.

The innovation journey will involve changes in technology, changes in talent, changes in customer experiences and, eventually, change in the business operating model. Company leaders must digest and understand all that change. Thus, it’s important that you break the journey into small steps, feeding the information in consumable pieces. Helping them understand the change involves a lot of persuasion that needs to happen over time. Ask the organization to do only the change it’s capable of doing at the time.

The information you’ll need to provide leaders to get institutional conviction requires:

  • Knowing what changes in technology to present to your vendor and your organization
  • Recognizing what innovations are happening in the marketplace regarding technology and business processes
  • Placing that information into the context of the business service the internal organization or service providers deliver.
  • Understanding where your company’s opportunities are.

All this information requires a source of technology competitive intelligence, peer intelligence and ongoing data and facts to help to drive the change that cascades from innovation.

Once you have this information on an ongoing basis, you can introduce the necessary data and facts in digestible pieces to maintain institutional conviction regarding innovation opportunities and approaches on an ongoing basis.


https://www.forbes.com/sites/peterbendorsamuel/2020/01/14/how-to-get-innovation-from-service-providers-and-vendors

Your Tech Is Great - Now, Get Your Employees To Use It

Whether you lead a company, a function or a team, here's a problem you've probably faced: Your company just invested a lot of money in a new technology, which can do 99 things better and faster than the old way, but no one is using it, or they're using just one or two of its capabilities, not all 99.

This example corroborates the findings in a report published by IDC (via CIO), which stated that "70% of siloed digital transformation initiatives will ultimately fail because of insufficient collaboration, integration, sourcing or project management."

In marketing, I see it all the time. From my experience, customer-centric modern marketers should be using the latest marketing technology. AI-driven marketing analytics, for example, can help marketers tailor and pace communications for each targeted individual, measure results in real time and alter campaigns on the fly while giving professionals and partners the right data at the right time for strategic decisions.


But most employees don't have a tech background. Many view the essential eight technologies (including AI and blockchain) as mystifying, not exciting. Plus, they already have jobs to do. They're not thrilled with spending hours at training sessions. Many will drag their feet and do as little as they can with the new tech for as long as they can unless you roll it out just right.

Give insiders the outsider treatment.

I like to think of my team the way I think of my company's clients, which is as valued individuals whose professional lives I want to make better and more productive. So when we roll out new technologies in-house, we use some of the same strategies that we do with clients:

Earn attention. You don't expect clients to be a captive audience. Don't demand it from your employees, either. Instead, make learning a game through engaging apps that turn lessons into friendly competitions. The best of these apps make the competition team-based to strengthen a collaborative mindset.

Offer bite-sized pieces. You wouldn't ask clients to sit through hour-long lectures. With your employees, offer apps that provide lessons in bite-sized pieces so they can "nibble" in their spare time. And if those apps are games, these "snacks" will feel like breaks, not extra work.

Make it active. Some of the most effective marketing gets people doing something, not just watching. Similarly, the best upskilling apps enable employees to quickly accomplish something with the new tech. People retain 5% of what they hear in a lecture but 75% of what they practice.

Be transparent — and humble. You wouldn't keep your clients in the dark or ignore their feedback. Similarly, tell your team exactly what your expectations are, and provide channels for them to say if anything isn't working. And when they talk to you, listen!

Win the influencers. In companies, the key influencers aren't social media stars but middle managers. Get those internal leaders on board by demonstrating the new tech's benefits for their teams, giving them some authority over the rollout and listening to their needs.

Keep track, and stay agile. Just as modern marketers follow the progress of campaigns in real time and adjust as needed, do the same with your tech rollout. Monitor employee engagement with usage analytics, and be ready to course-correct.

Give more power to your people. Make it easy for those who are accountable for business goals to see adoption progress and steer that behavior.

Everyone is trying it.

Most large companies, by their nature, resist change. But every large company has to change, rolling out newer and better digital technologies and getting its workforce to use them. Even Amazon and Microsoft have recently launched major upskilling initiatives.

But even if everyone is trying to get its workforce even more digital, many are failing. That's why if you want your company to be a winner of the Fourth Industrial Revolution instead of a casualty, you'll have to do more than offer your employees new opportunities. You need to get your teams excited to learn and use them.



https://www.forbes.com/sites/forbestechcouncil/2019/12/06/your-tech-is-great-now-get-your-employees-to-use-it/#4ca3990240f7

How to become a consultant without experience

Become a Consultant Without Experience

If you are reading this article, you probably have thought about becoming a consultant. You may have one or more reasons, all shared by a surprising number of people in a wide variety of job fields.

But not many people feel comfortable taking those first steps to pursue their dream of working for themselves and determining their own destiny by becoming a consultant. Therefore, the aim of this article is to offer a few guidelines to show you how to become a consultant without experience.

Do You Feel Stifled and Powerless?

Maybe you feel stifled in your current job. Maybe you have been hopping from company to company, looking for that elusive perfect opportunity that makes you giddy when you get up in the morning and think about the day ahead. Be honest. When last have you relished the opportunity to get out of bed for work?

Maybe you feel you have reached a ceiling. Perhaps you want to learn and experience more. Utilize your potential better. Take back the power you have once felt. Or, you simply don’t like your boss very much – it happens!

What does it take to be a good consultant?

In simple terms, a consultant is a person who gives professional advice to an organization or individuals in a business or field of expertise. To an aspiring consultant, this definition may seem a little daunting. Many people believe that they don’t have the experience to become a consultant. Hence the reference to becoming a consultant without experience in the title of this article.

However, although you may feel that you don’t have experience to get you going with confidence, I want to stress that experience comes in many forms. It goes without saying that anyone who first starts in a line of work doesn’t yet have the formal practical experience in that position. That comes with time. But what you do have in your corner is a lifetime of knowledge, skills, and observations that you can apply to guide other people. After all, this is what consulting is all about! This is fine, you may think, still, if I decide to get up tomorrow and quit my job, what do I do to become a successful consultant?

Steps to Become a Consultant

Now that you understand the theoretical context of what consultants do, here are my recommended first steps to become a consultant in less time than you think.

#1 – Identify Your Strengths & Expertise
Even if you think you have insufficient experience to take the leap into consulting, I bet that you have ample strengths and expertise to be able to guide others to success. Take a quiet time away from the hustle and bustle of your life. Turn off distractions like your mobile phone and email. Take a pen and paper or open a word editor.

Make a list of the knowledge and skills that you have acquired over the years. It may be tools that you have used like software, protocols, or methods. It could be information and knowledge that you have learned in your field, such as how to lead a team, or how to sell products effectively. It may even be inner qualities that you value and have helped you to achieve your goals. Resilience in bad times, encouraging others, or the ability to organize are all examples.

Start a second list. This time write down the fields or areas of your expertise. Some ideas are leadership of multi-disciplinary teams, sales of consumer goods, marketing of IT products, or design of systems.

By looking at both lists – they don’t have to be long and exhaustive – you should have a good idea of what, where, and to whom you can offer consultancy services.

#2 – Specify Your Niche
Together with your passion and interests, use your lists of strengths and expertise to specify a niche on which to focus. This will form the basis of how to get into consulting with the quickest turnaround.

As the consulting world is competitive, clients expect quick and efficient service from their consultant. The best way to achieve this is to focus on a well-defined area that fits your knowledge and skills and has a high demand for good guidance.

Your niche should be specific enough to enable you to start building a network of potential client from the get-go. Consider the companies and business areas that you know, as well as your existing contacts to choose a niche. As you gain momentum, your focus can change but, for now, select a specialty area that you feel most familiar with.

#3 – Define Your Goals
Your dream has brought you to this point. Now it is time to become more precise so that you can develop an action plan and work toward milestones. Describe at least one medium and one long-term goal. A good framework is 3-12 months for the medium-term goal and 2 to 5 years for the long-term goal.

Make sure that your goals are SMART, the acronym for specific, measurable, attainable, relevant, and time-based. This means your goals must be realistic. You should be able to know when you have achieved a goal or how much progress you have made at any time. And each goal should have a target date or frequency.

For instance, stating that you want to offer consulting services to make enough money is much too broad and vague. Instead, you may want to establish 5 paying clients in mid-sized clothing retail companies within 6 months.

#4 – Research Your Market
If you have chosen your niche wisely, based on the knowledge and skills that you already possess, you already have a solid base from which to research your target market. Use the internet and your existing contacts to look for ideas and opportunities. Do not hesitate to ask people for their input. “If there is one thing that someone can do to help you improve your business, what would it be?” This is a very insightful question to ask.

Divide any segments of your target market that come up. Use a diagram or chart to identify the issues or opportunities that you can help resolve in each of the areas. Keep your solutions brief but specific. Be sure to test your ideas with your contacts and keep refining according to their input.

If you follow the principles of mindful communication, you will be astonished to see how your contacts grow organically and how eager people are to answer your questions. Especially if they start to notice that you can positively influence their business.

Two Indispensable Ideas to Become a Consultant in Your Own Field

Now that we have covered the basic steps to follow when you start out on becoming a consultant, let’s talk in more practical terms about building your network and using mindful communication in the process.


BUILD YOUR NETWORK

#1 – Start from you existing list of contacts: You can use a simple spreadsheet or specialized CRM (customer relationship management) application to order and manage your information. Examples are Zoho.com, Google Contact Manager or Trello.

I use LinkedIn to build my network and transfer the information of every new, relevant contact into my contact management system. Constantly look at the associations of your existing contacts and connect with new people if they can be useful to your business offering.

#2 – Communicate sparingly but pointedly: Every communication should have a purpose that is aligned with your target market. Be specific and to the point. Make your communication worthwhile to your recipients.

#3 – Be respectful of your contacts’ preferences, needs, and workload: Needless to say, you should always respect people’s beliefs, culture, and other aspects of their identity. Keep messages friendly but professional and at the level of your recipients’ language skills.

#4 – Be careful when using mass emails: When used with care, mass emails can be extremely useful. However, it can be annoying too and easy to dismiss if it does not have a personal touch. His or her name is the most obvious but also put work location, company, field of business, whether you have or have not met them in person, and anything else of personal value into the text of your message. That way, it will come across as a genuine personal message and stand out.

Also ensure to maximize the probability of getting a response. For instance, ask an interesting question at the end that only demands a short answer but will make the recipient feel valued and important.

PRACTICE MINDFUL COMMUNICATION

Simply speaking, mindful communication is when you put the recipient first, consider his or her needs, and above all, listen to what they have to say. These principles apply to in-person, voice, video, and text communications alike.

#1 – Show curiosity in the other person’s issues and desires
#2 – Consider what they have to say with thoughtfulness
#3 – Don’t make assumptions of the meaning behind their words (ask for clarity if needed)
#4 – Put yourself in their shoes and show understanding
#5 – Be sympathetic but not emotional

Practice these principles from now on and you will be surprised to notice the positive effect on the quality of your communications and the growth of your network.

Final Words

This article is not meant as an exhaustive guide to starting and setting up your online and offline workspace as a consultant. Rather, my hope is that it has provided you with enough ideas to make your dream of becoming a consultant a reality.

Structure and planning are essential. If you find the information a little overwhelming or need a nudge in the right direction, it is often a time-saver and comforting to find a seasoned professional to show you the ropes when you learn to be a consultant.


https://sebwichmann.com/become-consultant-without-experience/

Get Paranoid About Securing Your Data

If you are not paranoid about cyber security, identify theft, or fraud, you should be.

Today’s hot news from the Washington Post:

“Marriott discloses massive data breach affecting up to 500 million guests.  The hotel giant said an unauthorized party had accessed the reservations database for Starwood hotels, one of Marriott’s subsidiaries. The breach included names, email addresses, passport numbers and payment information.” (Nov. 30, 2018)

If that doesn’t motivate you to protect your data, nothing will.

The financial loss can be devastating, But, it’s worse than that. It’s not just your financial information at risk. You expose your entire life, reputation, friends, address, travel plans, health information and other private personal information to grievous harm.

The Internet opens up an entire new universe. However, it can also be a bad neighborhood. But, in any bad neighborhood a little caution goes a long way toward cutting down your chances of being mugged.

To paraphrase an old Navy saying, a data breach can ruin your whole day.. Even if you recover every cent, it will lead to months of aggravation.The threat is real, persistent, and menacing. You need to set your defenses.

It’s critical that you secure your data, but much easier than you think to do it.  It’s not hard. Existing tools make it remarkably easy. Now would be a great time to get started.

Password management: The first step to building a moat around your data

It doesn’t take long to use a hundred different sites that require your log in. That’s for your security. But, nobody is going to remember 100 passwords. So, most people cheat, opening themselves up to unlimited mischief.

Right now get a good password manager that will sync across all your devices, and suggest really strong unique passwords like “or!MXY3$VLWw7eHD” for every one of your accounts. Of course, you are never going to remember this password but the application will, and it will open your sites directly from the password manager. So, you can have a different virtually unbreakable password for every site you log into. And, you will have secure access to them from any place in the world.

Password managers are available for all the major operating systems, easy to install, secure, synch data across all your devices and cheap. There just isn’t any excuse for not using them.

Browsers as password managers

Modern browsers like Google’s Chrome or Microsoft’s Edge will remember your passwords and sign you into any of your accounts once you are logged into either your Google or Microsoft account from any device in the world. Just remember to sign out any time you are not on one of  your own devices.

Simple passwords won't hack it

Even very sophisticated professionals get lazy and use the same password for multiple sites and/or use something simple like 123456, or abcdefg. They might as well wear a target on their backs.

A remarkable number of people use simple passwords. Searching Google yields the most used passwords:


  • 123456
  • Password
  • 12345678
  • qwerty
  • 12345
  • 123456789
  • letmein
  • 1234567


Really? Any child can figure those our in a few seconds. But most hackers are sophisticated, highly motivated criminals. It won’t take them too much longer to try variations of your birthday, address or spouse’s name.

Let’s be honest, any self respecting hacker has programs that will grind through a million possibilities in a few seconds. So, long complex passwords are essential to keep them at bay. Sixteen digits with upper and lower case letters, numbers, and special characters are a reasonable standard.

Plan for the worst

Get used to the idea that sites you use will be breached. But when it happens you must contain the damage. Don’t reuse passwords.

If you use the same password on multiple sites, one data breach opens up your whole life on all your other sites like so many falling dominoes. So, if Marriott gets breached (it did) it could open up your password for Amazon and other sites that use the same password, no matter how strong it is. Not good.

You know better than to write down your passwords. But, half of you probably have them neatly typed under your keyboard or in your top drawer.

By using your browser’s password memory, and a good password manager gets you down to just two passwords you have to remember. Of course those two passwords are the keys to your kingdom, so use a little thought on them. It gets even simpler and more secure if your devices have fingerprint or facial recognition. But you have to make it exponentially harder for a bad actor to access your data.

Start now

It’s going to take some time to change all your passwords. However, it will be well worth the effort. Just do a few a day, but get it done. Start with financial and credit card accounts. Then work your way down to the least important.

Once you are done your life will be a lot simpler, and secure.

There’s lots more to do before your moat is finished. But, if you don’t do these first steps, there isn’t much hope for you. Now would be a great time to get started.

The Internet is a jungle. Be safe out there.


https://www.forbes.com/sites/frankarmstrong/2018/11/30/get-paranoid-about-securing-your-data/?ss=cybersecurity#2deb3b56774e

Artificial Intelligence: What's The Difference Between Deep Learning And Reinforcement Learning?

The various cutting-edge technologies that are under the umbrella of artificial intelligence are getting a lot of attention lately. As the amount of data we generate continues to grow to mind-boggling levels, our AI maturity and the potential problems AI can help solve grows right along with it. This data and the amazing computing power that’s now available for a reasonable cost is what fuels the tremendous growth in AI technologies and makes deep learning and reinforcement learning possible. With the rapid changes in the AI industry, it can be challenging to keep up with the latest cutting-edge technologies. In this post, I want to provide easy-to-understand definitions of deep learning and reinforcement learning so that you can understand the difference.

Both deep learning and reinforcement learning are machine learning functions, which in turn are part of a wider set of artificial intelligence tools.  What makes deep learning and reinforcement learning functions interesting is they enable a computer to develop rules on its own to solve problems. This ability to learn is nothing new for computers – but until recently we didn’t have the data or computing power to make it an everyday tool.

What is deep learning?

Deep learning is essentially an autonomous, self-teaching system in which you use existing data to train algorithms to find patterns and then use that to make predictions about new data. For example, you might train a deep learning algorithm to recognize cats on a photograph. You would do that by feeding it millions of images that either contains cats or not. The program will then establish patterns by classifying and clustering the image data (e.g. edges, shapes, colors, distances between the shapes, etc.). Those patterns will then inform a predictive model that is able to look at a new set of images and predict whether they contain cats or not, based on the model it has created using the training data.

Deep learning algorithms do this via various layers of artificial neural networks which mimic the network of neurons in our brain. This allows the algorithm to perform various cycles to narrow down patterns and improve the predictions with each cycle.

A great example of deep learning in practice is Apple’s Face ID. When setting up your phone you train the algorithm by scanning your face. Each time you log on using e.g. Face ID, the TrueDepth camera captures thousands of data points which create a depth map of your face and the phone’s inbuilt neural engine will perform the analysis to predict whether it is you or not.

What is reinforcement learning?

Reinforcement learning is an autonomous, self-teaching system that essentially learns by trial and error. It performs actions with the aim of maximizing rewards, or in other words, it is learning by doing in order to achieve the best outcomes. This is similar to how we learn things like riding a bike where in the beginning we fall off a lot and make too heavy and often erratic moves, but over time we use the feedback of what worked and what didn’t to fine-tune our actions and learn how to ride a bike. The same is true when computers use reinforcement learning, they try different actions, learn from the feedback whether that action delivered a better result, and then reinforce the actions that worked, i.e. reworking and modifying its algorithms autonomously over many iterations until it makes decisions that deliver the best result.

A good example of using reinforcement learning is a robot learning how to walk. The robot first tries a large step forward and falls. The outcome of a fall with that big step is a data point the reinforcement learning system responds to. Since the feedback was negative, a fall, the system adjusts the action to try a smaller step. The robot is able to move forward. This is an example of reinforcement learning in action.

One of the most fascinating examples of reinforcement learning in action I have seen was when Google’s Deep Mind applied the tool to classic Atari computer games such as Break Out. The goal (or reward) was to maximize the score and the actions were to move the bar at the bottom of the screen to bounce the playing ball back up to break the bricks at the top of the screen. You can watch the video here which shows how, in the beginning, the algorithm is making lots of mistakes but quickly improves to a stage where it would beat even the best human players.

Difference between deep learning and reinforcement learning

Deep learning and reinforcement learning are both systems that learn autonomously. The difference between them is that deep learning is learning from a training set and then applying that learning to a new data set, while reinforcement learning is dynamically learning by adjusting actions based in continuous feedback to maximize a reward.

Deep learning and reinforcement learning aren’t mutually exclusive. In fact, you might use deep learning in a reinforcement learning system, which is referred to as deep reinforcement learning and will be a topic I cover in another post.


https://www.forbes.com/sites/bernardmarr/2018/10/22/artificial-intelligence-whats-the-difference-between-deep-learning-and-reinforcement-learning/