Leveraging data from the international Cybernomics 101 study, the report assesses how challenges relating to security policies, management support, third-party access, and supply chains can undermine a company’s ability to withstand and respond to cyberattacks. Only 43% of surveyed organizations expressed confidence in their ability to address cyber threats.

The report identifies inconsistent security policies as a major hurdle, particularly for smaller businesses. Nearly half (49%) of smaller companies surveyed struggle to implement consistent security measures like authentication and access controls across their entire organization.

Over a third (35%) of smaller businesses surveyed believe senior management underestimates the significance of cyberattacks. Additionally, larger companies grapple with resource limitations, citing budget (38%) and a lack of skilled cybersecurity professionals (35%) as key challenges.

The report also raises concerns about supply chain security. Many organizations lack adequate control and visibility into the security practices of third-party vendors who may have access to sensitive data. This exposes the entire organization to potential breaches through the supply chain.

“For many businesses today, a security incident of some kind is almost inevitable,” said Siroui Mushegian, CIO of Barracuda Networks. “What matters is how you prepare for, withstand, respond to, and recover from the incident. This is cyber resilience. Advanced, defense-in-depth security solutions will take you most of the way there, but success also depends on security governance — the policies and programs, leadership, and more that enable you to manage risk. When NIST updated its benchmark cybersecurity framework earlier this year, it added security governance as a strategic priority.”

The report offers practical templates to help organizations manage cyber risk and map where they are in their journey toward cyber resilience. The cyber resilience checklist draws on the latest iteration of the U.S. National Institute of Standards and Technologies (NIST) Cybersecurity Framework and can be freely downloaded and printed from the Barracuda website.

Resources:

Get a copy of the report: https://www.barracuda.com/reports/cyber-resilience-report

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According to data presented by AltIndex.com, Tesla is the only loser among AI giants in 2024, with its stock value plunging by 30% year-to-date.

Unlike NVIDIA, Microsoft, Alphabet, and Meta Platforms, which continued adding trillions of dollars to their stock values amid the AI renaissance, Tesla, has seen a severe plunge in sales and stock price.

The once red-hot company, previously a member of the prestigious “Magnificent Seven” tech stocks, now holds the dubious distinction of being the worst performer in the S&P 500.

Several factors have contributed to this dramatic fall: slowing growth, safety concerns leading to recalls, price cuts, and missed sales targets. The combined effect has been a dramatic drop in Tesla’s stock price, wiping away hundreds of billions of dollars in market value within just three months.

Tesla’s market cap has been observed up-and-down trend over the past year. From $586 billion in April 2023, it climbed to $814 billion a month later, only to dip back down to $525 billion in May. This trend continued throughout the year, with the company adding and losing billions in value. Despite the volatility, Tesla managed to close December 2023 at a market cap of $831 billion.

However, starting from 2024 it was a downhill from. By January’s end, the company’s stock value had plummeted to $583 billion, representing a massive 28% drop in a single month. While the market cap reached a temporary high of $643 billion in February, it has been on a downward trajectory ever since. Last week, the combined value of Tesla shares stood at $550.9 billion, signifying a staggering $250 billion loss since the year began.

According to the alternative data platform AltIndex, which analyzes millions of data signals from thousands of publicly traded companies to forecast future price movements and overall company performance, investors should approach buying Tesla (TSLA) stocks with caution.

Based on its social media mentions, financial results, and neutral sentiment across popular stock forums, the AltIndex algorithm currently marks TSLA with a hold signal.

The full story and statistics can be found here: 

https://altindex.com/news/tesla-ai-stock-drop

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A decade after the term “unicorn” was made to mark private startups valued at $1 billion or more, the number of these companies hit more than 1,500 globally, with a collective value of more than a whopping $5 trillion. But joining the global unicorn club has become much harder than before despite huge investor interest in some markets.

According to Crunchbase data, only 95 companies joined the global unicorn list last year, one-third of the figure seen in 2022 and six times less than the number of new unicorns in 2021, still the record year by the number of new $1 billion worth startups.

Of the 95 companies that hit a valuation of $1 billion or more, one-fifth, or 20, were from the AI sector, mainly from the generative AI market. These companies have collectively added more than $35 billion in value to the global unicorn club. Statistics show fintech was the sector with the second-highest number of new unicorns, with 14 in 2023. Cleantech, energy, and semiconductors followed with 12 and 9 new unicorns, respectively. Analyzed by geography, almost half of all new unicorns were from the United States. Another 24 were from China, while India and the United Kingdom had three.

With 20 new companies joining the global unicorn list in 2023 and three more in the first quarter of this year, the total number of startups in the AI sector valued at $1 billion or more hit 214.

The generative AI company, OpenAI, is the most valuable among them, with a valuation of $80 billion as of this month, $15 billion more than the Chinese ecommerce giant Stripe or the US payments provider, Stripe. Statistics show Databricks is the second most valuable AI unicorn globally, with a valuation of $43 billion. The San Francisco-based AI safety and research company, follows with a $16 billion valuation, respectively.

The full story and statistics can be found here:  https://altindex.com/news/ai-companies-unicorns

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According to data presented by AltIndex.com, the annual growth rate in the NFT market is expected to drop to only 2.6% by 2028. Global NFT sales have been on a downward trajectory since the 2022 crypto winter.

According to NonFungible data, total NFT sales recorded on the Ethereum, Ronin, and Flow blockchains generated an aggregated value of $245 million on March 20, practically one-third of the value seen on the same date last year, while the total number of sales plunged from nearly 200,000 to only 52,000.

Despite the overall downturn, revenue in NFT marketplaces, the primary platform for NFT trading and investment, is expected to show double-digit growth, albeit at a much slower pace than previous years.

According to a Statista survey, NFT marketplaces will gross $2.37 billion in 2024, 41% more than last year. Although 41% is a high figure, this is only half the growth rate seen last year and almost 1000 times less than the growth rate reported in 2021, the record year for global NFT sales.

Statista expects the market to continue losing its momentum in the following years. In 2025, the revenues of NFT marketplaces are forecasted to increase by 21% to $2.87 billion, only half the growth projected for this year. Statistics show that 2026 will bring less than 10% annual growth in the NFT space. Although the revenue of NFT marketplaces will increase to $3.36 billion by 2028, the annual growth rate is expected to drop to only 2.6%, or thirty times less than last year.

One of the reasons for such a poor market projection is the constantly falling number of active NFT wallets and people willing to invest in NFTs.

Last week, the NFT market counted around 25,700 active wallets, or 72% less than in March last year, according to NonFungible data. The number of unique buyers plunged by 78% in this period, falling from over 63.100 a year ago to 13,500 last week. Statistics also show the NFT market counted 15,200 unique sellers last week, or 67% less than in the same month a year ago.

A higher number of sellers indicates more supply than demand in the NFT space, which may cause NFT owners to lower their pricing, resulting in a further drop in NFT market value.

The full story and statistics can be found here: 

https://altindex.com/news/nft-losing-momentum

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According to Forbes, the industrial sector is the third best sector to invest in 2024, behind AI and the healthcare industry. It is due to its critical role in the global economy and its ongoing transformation with technologies like automation, robotics, and Internet of Things (IoT).

The Crunchbase data show the companies and startups in the industrial sector have raised $15.2 billion in funding rounds year-to-date, 80% more than in Q1 2023 and the highest quarterly figure in the market`s history. Statistics also show that, while the total funding amount increased, the number of funding rounds dropped, showing startups managed to raise more fresh capital in fewer funding rounds. Since the beginning of the year, these companies saw 14 VC investments, down from 26 in Q1 2023.

The Q1 funding amount in the industrial sector is even more impressive when compared to other top markets for VC investments. Statistics show industrial companies and startups have drawn 30% more fresh capital to finance their businesses than AI startups. Since the beginning of the year, companies working in the artificial intelligence space raised $11.6 billion, or $5 billion less than in the same period a year ago.

Healthcare startups are also far behind when it comes to VC funding activity. Over the past three months, companies in the healthcare industry raised $7 billion in funding rounds, or twice less than the industrial companies.

With $15.2 billion of fresh capital poured into the industrial sector year-to-date, the cumulative funding amount in this market jumped to $122.1 billion. Interestingly, more than half of that value was raised in the past two years.

Statistics also show that despite leading the chart of the most funded markets in 2024, the industrial sector loses the race with AI and healthcare companies when talking about cumulative funding. AI companies have raised over $355 billion, nearly three times more than startups from the industrial sector. Healthcare companies have also raised much more money, or over $229 billion so far.

The full story and statistics can be found here: https://altindex.com/news/industrial-sector-leads-vc-funding

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According to data presented by Stocklytics.com, government internet shutdowns have cost the global economy more than $50 billion since 2019. In 2023, these shutdowns affected almost 750 million people worldwide and cost the global economy over $9.1 billion.

The Top10VPN data show that since 2019, nearly 600 major internet shutdowns across the globe, totalling more than 205,000 hours of disruptions.

Analyzed by year, 2019 saw the highest number of internet blockages, 134 lasting more than 19,200 hours. Statistics show 2022 remains the absolute record year in terms of total economic cost. That year alone, internet blockages cost the world economy a shocking $24.6 billion. That means almost half the five-year cost of internet blockages and shutdowns happened that year.

Still, 2023 saw the longest total duration of internet blockages. Although the total economic cost of government-caused internet shutdowns dropped by 60% to $9.1 billion, last year saw more than 79,000 hours of internet disruptions, the highest number in the past five years.

Analyzed by geography, Russia is undoubtedly the most affected nation by government-caused internet blockages and shutdowns. In 2023 alone, the total cost of internet and social media blockages in the country hit over $4 billion, while the five-year figures climb to over $25 billion, or half the world`s total in this period.

The Top10VPN data also showed that X, formerly Twitter, is generally the most blocked social media platform, suffering more than 10,600 hours of deliberate disruption in 2023, 26% more than TikTok and 18% more than Instagram.

Also, over half of all government internet outages last year were associated with additional human rights abuses, most frequently restricting freedom of assembly.

The full story and statistics can be found here:  https://stocklytics.com/content/the-world-economy-has-lost-over-50-billion-due-to-internet-shutdowns-in-the-past-five-years/

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According to data shared by Stocklytics.com, the annual cost of cybercrime will hit $9.2 trillion in 2024, one trillion more than last year. Furthermore, projections indicate a staggering 70% increase by 2028, reaching a jaw-dropping $13.8 trillion.

Costs Skyrocket Year After Year

Despite efforts to fight cybercrime, attacks like ransomware, data breaches, and phishing continue to wreak havoc. The Allianz Risk Barometer highlights the fear of cybercrime, with 40% of respondents naming it their biggest concern in 2023. This fear is justified considering the rising costs.

A Statista Market Insights survey reveals a 245% increase in global cybercrime costs between 2018 and 2020, jumping from $860 billion to a staggering $2.95 trillion. This includes financial losses, data destruction, lost productivity, and reputational damage. The pandemic accelerated digitalization, nearly doubling these costs to $5.49 trillion in 2021. Since then, the annual cost has been rising by over a trillion dollars each year.

Cybercrime Cost to Surpass Major Economies

In 2024, cybercrime is projected to cause $9.22 trillion in damages, exceeding the GDP of countries like Japan, Germany, India, and the United Kingdom. This figure is expected to skyrocket by 2028, reaching a staggering $13.82 trillion, a 16-fold increase from 2018.

Companies Increase Cybersecurity Spending

The rising cost of cyber attacks is forcing companies to invest more heavily in cybersecurity. In 2023, spending on security solutions and services reached $166.2 billion, and it’s expected to rise to $183.1 billion in 2024. Statista predicts continued growth, reaching $273.5 billion by 2028. In the next four years alone, companies are estimated to spend over $1.1 trillion on cybersecurity measures.

The full story and statistics can be found here:  https://stocklytics.com/content/annual-cybercrime-cost-to-jump-by-70-and-hit-13-8-trillion-by-2028/

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According to data presented by Altindex.com, the ML market is expected to reach a record valuation of $204 billion in 2024, capturing nearly 70% of the total AI market share.

Machine Learning Market Size Quadrupled in Four Years

The exponential growth of the machine learning industry in recent years is nothing short of impressive. This AI technology, renowned for its ability to streamline operations across diverse business domains—from decision-making processes and product development to manufacturing, logistics, and customer service—has emerged as a transformative force across industries, propelling overall market expansion.

Back in 2020, the global machine learning industry was valued at roughly $60 billion, representing 54% of the total AI market size. Just a year later, this figure more than doubled and hit $134.5 billion, with machine learning’s market share rising to 59%.

After a considerable setback in 2022, the market continued surging last year. Statistics show the machine learning sector skyrocketed by 120% in 2023, twice and even three times the growth of any other segment of the AI industry. This caused machine learning market size to jump to $158.8 billion, representing 65% of the total AI market value.

Although 2024 will bring much smaller growth of 28%, the machine learning industry is still expected to hit a record valuation of over $204 billion. With more and more businesses recognizing the potential of the technology and investing in its applications, the entire market is expected to hit a $528 billion value by 2030, making 72% of the total AI market size.

US Dominates Global Machine Learning Market

Geographically, the United States emerges as the undisputed leader in the global machine learning landscape. Statista forecasts a 24% year-over-year growth, propelling the US machine learning sector to a valuation of $70 billion in 2024—constituting one-third of the total market value. By 2030, this figure is projected to surge by an additional 142%, reaching a monumental $170 billion.

While trailing behind the US, the Asian machine learning market is poised for robust growth. Fueled by its vast population, diverse industries, and escalating investments in technological infrastructure, the Asian market is poised to witness a remarkable 34% year-over-year growth, resulting in a market size of $55.1 billion in 2024. By 2030, this figure is expected to catapult by 178%, reaching $153 billion.

Similarly, Europe’s machine learning sector is slated for exponential growth in the coming years. With a projected 28% growth rate, the European market is anticipated to reach a valuation of $55.8 billion in 2024, surging by 161% to $144 billion by 2030.

For further insights and detailed statistics, please refer to the full article on Altindex.com: https://altindex.com/news/machine-learning-ai-market

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The report highlights the preference for biometric authentication, with over 95% of female customers opting for AePS for cash withdrawal. While cash remains the favored mode of transaction, with 48% of women favoring it, Aadhaar-led transactions and UPI QR codes are gaining momentum in double digits. Cards continue to have a minimal presence in this segment. Notably, women aged 18-30, followed by 31-40, are the most digitally adept, showing a strong inclination towards financial transactions. Interestingly, 41% of women mentioned that they do not use any payment app on their phones.

Cash withdrawal, mobile recharges, and bill payments emerge as the top three services availed by women at PayNearby retail outlets. The most common withdrawal range falls between ₹1000-2500, while EMI payments typically range from ₹500-1000. The report reveals that 70% of women hold Jan-Dhan savings accounts primarily used for cash withdrawals. More than 25% of women admitted to their husbands managing their bank accounts instead of themselves.

Among the top three saving goals, ‘child education’ topped the list, followed by ‘medical emergency’ and ‘buying household electronic items’. 54% of women indicated ₹750-1000 as their preferred range for monthly savings, highlighting their approach towards financial planning. Notably, only 27% of the respondents preferred to save above ₹1500 to accrue a corpus in the long run. 71% of women exhibited a higher inclination towards short-term investments, with savings tenure between 3-5 years. The report observes a marginal but noteworthy trend towards investment diversification, particularly in recurring and fixed goal-based deposits. This suggests an increasing awareness among women regarding alternative investment avenues, reflecting a growing interest in financial management and wealth creation.

Interestingly, 74% of women rely on their family members when making investment decisions, whereas 11% seek guidance from financial advisors. The financial advisors were typically women influences in their affinity. The survey also revealed that 16% of women were extremely aware, and 55% were moderately aware of various government schemes and initiatives related to financial well-being. Impressively, 45% of women report availing benefits from government-backed initiatives indicating a growing number of women availing these schemes.

Despite growing awareness of insurance products among women (29%), consumption remains low at 2%. 45% of women report benefiting from government-backed schemes. The survey indicates a willingness among 68% of women to take formal credit, emphasizing the need for affordable credit solutions. Women cited emergency expenses like medical bills, home repairs, and children’s education or for agricultural needs such as buying seeds, fertilizers, or equipment as reasons to avail credit.

The PWFI report also highlights the increasing adoption of online commerce (24%) and online entertainment (18%) among women. Online commerce saw a decent adoption among women at retail stores with daily groceries & household items (at 27%) being the most commonly ordered category. This was followed by clothing & accessories and home & kitchen items at 24% and 23%, respectively. It ratifies the fact that women at the last mile are aspirational and validates the latent demand for such services among them. Travel bookings and PAN card issuance have seen significant uptake, with 96% of the respondents showed a willingness to book a rail ticket from their nearby store. This showcases women’s desire to become self-reliant and financially included.

Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, “It is delightful to see that women in Bharat are asserting their entrepreneurial spirit more than ever with over 63% seeking avenues for income augmentation. In the journey towards a nation’s development, women should be equal stakeholders. At PayNearby, we recognize women as the GDP reserve of our nation, wielding the power to drive social and economic change. As an institution, we are aligned with the government’s shift from women development to women-led development.”

“The increasing adoption of newer services such as e-commerce, mutual funds, and fixed deposits signifies a promising trend in rural areas, where women are gearing up to engage in formal economic activities. We aim to empower women with greater autonomy over their savings, investments, and other crucial aspects. Sashakt Naari, Sashakt Desh,” Bajaj added.

Jayatri Dasgupta, CMO, PayNearby, said, “Bharat stands on the threshold of a profound digital transformation. Yet, to fully unlock its potential, we must equip our women with the tools necessary to integrate seamlessly into this rapidly evolving digital landscape. With the launch of our fourth edition of PWFI, we undertake a comprehensive assessment of our progress and chalk out the roadmap to make women equal participants in Bharat’s growth journey.”

With our recently launched Digital Naari initiative, we are providing additional income opportunities for women at the last mile, enabling them to provide financial and digital access to their communities at their convenience of time, location (from home/store), and product preferences. Our aim is to create a women-led development that breaks down technological and financial barriers and creates a more equitable society”, Dasgupta added.

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According to data from Stocklytics.com, global consumers collectively spent nearly half a trillion dollars on digital media subscriptions and downloads in 2023, marking a substantial 13% increase compared to the previous year.

Video-on-Demand Subscriptions Lead Growth with a 20% Increase

The subscription-based model has thrived in recent years, transcending the pandemic-induced surge and solidifying its position as a lucrative revenue stream for publishers. Throughout 2023, digital media subscriptions remained a top priority for consumers, generating significantly higher profits than other revenue streams.

The Digital 2024 Global Overview Report underscores this trend, revealing that consumers worldwide allocated a staggering $498 billion towards digital media subscriptions and downloads in 2023, a substantial uptick of $59 billion from the preceding year. Notably, video games emerged as the dominant segment, contributing nearly half of the total expenditure. With consumers splurging almost $250 billion on video game subscriptions and downloads, representing a noteworthy 12% increase from 2022, the average spending per user amounted to $205.

While video games commanded a lion’s share of the subscription spending, video-on-demand services experienced the most significant growth, witnessing a remarkable 20% increase year-over-year. The average expenditure on video-on-demand subscriptions surged to $56.5 per user, contributing to a total spending of nearly $160 billion.

Regional Disparities in Digital Subscription Spending

Despite the global shift towards digital subscriptions, significant variations exist across countries in terms of consumer spending. Notably, Americans emerged as the leading spenders in this category, with the average online user investing over $850 on digital media subscriptions and downloads in 2023, double the expenditure of their British and German counterparts, and almost five times the global average.

Following closely behind, Japanese consumers exhibited robust spending habits, with an average expenditure of approximately $700 per internet user. South Korea secured the third position, with an average spending of $563 per user, outpacing several Western countries.

In Europe, countries such as the United Kingdom, Switzerland, and Austria showcased notable spending patterns, with average expenditures per user ranging from $403 to $447. Remarkably, 21 countries surpassed the global average expenditure per user, which stood at $176.4 in 2023.

Looking Ahead

The surge in digital media subscription spending signifies a fundamental shift in consumer behavior, with digital subscriptions becoming integral to the modern entertainment landscape. As consumers continue to embrace digital content consumption, publishers and content providers must adapt to evolving preferences and consumption patterns to capitalize on this burgeoning market.

For more detailed insights and statistics, visit: https://stocklytics.com/content/people-spent-almost-half-a-trillion-dollars-on-digital-media-subscriptions-in-2023-13-more-than-the-year-before/

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