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Cyber Insurance Costs on The Rise in Health Care as Attacks Soar

3/26/2023

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Health systems having been hit by labor and supply chain costs and broader economic woes have another unwieldy financial problem—the soaring costs of cyber insurance.

Moody's Investors Service notes that, while it’s not sexy, the sheer size of cyber-crimes and insurers' reluctance to cover losses brought on by ransomware attacks are having a very serious impact on hospitals.

"The timing of the insurance price increase is bad for health care. There isn't much room for error, " said Matthew Cahill, a Moody's analyst. There have been double-digit increases in premiums over the past four years, often more than tripling in a single year. According to a recent analysis from Property Casualty 360, the industry's insurance costs have finally started to stabilize in the first quarter of 2023.

In an interview, Omid Rahmani, an associate director at the credit rating company Fitch Ratings, stated: "Costs are decelerating. That tells part of the story. But cyber insurance is becoming unaffordable or unavailable for a lot of small- to medium-sized issuers."

Early in the century, when cyber insurance first appeared, it was frequently incorporated into other policies. According to Rob Rosenzweig, senior vice president and head of the National Cyber Risk group at brokerage company Risk Strategies, when losses grew because of the assaults' growing frequency and sophistication, insurers were forced to develop stand-alone policies. In other words, the coverage was not priced appropriately for the level of risk assumed.

Insurance companies have been increasing the standards that health systems need to meet to strengthen their defenses and secure coverage. The new standards include strict data backup policies, the usage of tools like multi-factor authentication, personnel security training, and network segmentation.

"Social engineering attacks, such as phishing, remain one of the most effective ways to breach a hospital system. The workforce remains the weakest link," said Soumitra Bhuyan, a professor at Rutgers University and expert on heath care’s evolving cyber insurance landscape. Social engineering is often treated as a separate policy extension by insurers.

Other limitations have also been added to the coverage, such as the exclusion of cyberattacks supported by nation-states. This is being required because of a new requirement by Lloyds of London. Lloyds now requires all insurance groups that take part in its international insurance and reinsurance marketplace to exclude state-sponsored cyberattacks from their policies.

"With the increased rates and limited coverage, small independent and rural hospitals are at a significant disadvantage in obtaining cybersecurity insurance," Bhuyan said.

"The gap between those with adequate resources to protect their information systems continues to increase," Bhuyan said. "Many of these hospitals are critical access hospitals or hospitals in rural areas. They don't have enough resources to secure their IT systems and may be unable to recover if a breach happens."

Moody’s Cahill said that even though cyber insurance is becoming more expensive, the cost of a successful ransomware attack is still far worse. He pointed to an Illinois system that listed one such attack as a contributing reason for the temporary shutdown of two of its rural hospitals in January as evidence.

In January, the pro-Russian group Killnet took credit to taking down portions of systems of more than a dozen U.S. hospitals, including Stanford Healthcare, Duke University Hospital and Cedars-Sinai.

According to Fitch Ratings, these cyberattacks are unlikely to result in downgrades for not-for-profit health institutions, but the use of more advanced cyber-weapons that damage a hospital's financial profile and compromise service could.
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While some health systems are doing well, for a majority, there is still very little wiggle room to have to operate a month or two on manual records, divert services, and deny claims. And if the attack results in a closure, rural communities simply can’t afford to have no emergency services.

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Within Next Decade 39% of Domestic Chores Will Be Done by Robots

3/19/2023

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In a recent research study published in PLOS ONE, 65 experts in artificial intelligence (AI) from the UK and Japan were consulted by researchers to make predictions about how much common household work will be automated in the next ten years.

While care for the young or elderly was expected to be least likely to be affected by AI, experts showed that grocery shopping was likely to witness the most automation.

Researchers from Britain’s Oxford University and Japan’s Ochanomizu University were interested in the potential effects of robots on unpaid domestic labor. "If robots will steal our jobs, will they at least also take out the trash for us?" they posed.

The researchers noted that the most often created and marketed robots worldwide are those used for "domestic household duties," such as robot vacuum cleaners.

For their predictions on robots in the home, the team consulted 29 AI specialists from the UK and 36 AI experts from Japan.

Researchers found that male UK experts tended to be more optimistic about domestic automation compared with their female counterparts, a situation reversed in Japan.

But the tasks which experts thought automation could do varied: "Only 28% of care work, including activities such as teaching your child, accompanying your child, or taking care of an older family member, is predicted to be automated", said Dr Lulu Shi, postdoctoral researcher, Oxford Internet Institute.

On the other hand, technology was expected to cut 60% of the time we spend on grocery shopping, experts said.

Technology is more likely to aid humans than to replace them, according to Dr. Kate Devlin, reader in AI and Society at King's College, London, who was not engaged in the study. "It's difficult and expensive to make a robot that can do multiple or general tasks. Instead, it's easier and more useful to create assistive technology that helps us rather than replaces us," she said.

The research suggests domestic automation could free up a lot of time spent on unpaid domestic work. In the UK, working-age men do around half as much of this unpaid work as working-age women, in Japan the men do less than a fifth.
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According to Ekaterina Hertog, associate professor in AI and Society at Oxford University, women's incomes, savings, and pensions are negatively impacted by the disproportionate amount of household labor they must do. Therefore, the researchers suggest, greater gender equality could arise from increased automation.
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What Technologies Will Invade Our Lives This Year

3/12/2023

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Now that we have two months of the new year under our belts, it’s time to look out to the remaining ten months to see what areas of technology are going to have the biggest impacts on our lives. 

Before we look forward, let’s look back to the end of 2022 and see the trends that were forming and how they will affect our world in 2023. 

From a hardware perspective, it was an unexciting year. Both Apple and Samsung refreshed their flagship smartphones, but most reviewers rated the changes as incremental upgrades. Mark Zuckerberg, with his eyes on changing the way people work, introduced a $1,500 virtual-reality headset. But, with only a two-hour battery, most users will strap the new headset on for gaming.

From the online world, we saw huge changes at Twitter after Elon Musk spent $44 billion to buy the company. In the last few months, he has gutted the staff, suspended accounts for some journalists and reinstated several questionable users. All of this had driven Twitter users to seek alternative sites. Another social media company, TikTok, has been banned on government-issued devices at both the federal level and in several states.

Finally, in November, OpenAI introduced a chatbot called ChatGPT. In the first month of its availability, the online AI tool registered more than one million users. Given that is can produce seemingly intelligent responses to questions posed by users. Unfortunately, it can produce totally incorrect responses and couch those responses in wording that appears authoritative. 

This is just a taste of what's in store for us in the upcoming year. Together with the same trends that have persisted over the past few years, like developments in electric cars and the metaverse, we can anticipate many intriguing innovations in A.I.-powered, language-processing technology. Social media might even have a resurgence.

Here are the tech developments that will invade our lives in 2023.

1.New Embedded AI Assistants. Early adopters who were astounded by ChatGPT's verbal proficiency were equally astounded by how inaccurate it can be, especially with basic mathematics. Despite their flaws, it is reasonable to expect that software developers, led by Microsoft, will embed AI technology within familiar apps like Word, Excel, Google Sheets, Craft and others. It's important to note that many of the tasks these new AI modules will tackle will be summaries with a particular interest point in mind. 

Here’s an example. You’re writing a research paper on warfare and you have come across a 100-page essay on World War II. Imagine asking the AI tool to read the full document and highlight the key points regarding a certain facet of the war.

Yoav Shoham, a professor emeritus at Stanford University who contributes to the AI Index, an annual assessment on the development of artificial intelligence, said: "If you want to supplement your writing with a historical fact, you won't need to go and search the web and locate it. With just the click of a button, it'll be there."

2. Virtual reality, a.k.a. the metaverse. Tech firms have been advertising virtual reality headgear for gaming for most of the last decade, including the Quest 2, HTC Vive, and Sony PlayStation VR. Tech companies are making grand claims that these headsets will eventually transform our lives similarly to what smartphones have done so now that technology has advanced to become more potent and wireless.

One person who envisions the metaverse as a place where we may work, collaborate, and create is Mark Zuckerberg of Meta. The business thought the technology could be used as a multitasking tool for employees juggling meetings while skimming through emails and other duties when it unveiled the Quest Pro headgear this year. It remains to be seen whether Meta can realize its vision for the metaverse, given that the device's initial reception was unfavorable.

The VR drumbeat will continue in 2023. It is widely believed that Apple will unveil its first headgear, despite having previously stated that it would never use the term "metaverse." Apple's CEO, Tim Cook, has provided hints about the device even though the business has released no information about it. Cook has expressed his excitement about employing augmented reality to use digital data in the real world.

“You’ll wonder how you lived your life without augmented reality, just like today you wonder: How did people like me grow up without the internet?” Mr. Cook said in September to students in Naples.

Yet, he continued, the technology will not suddenly become significant. The first version of Apple's headgear will probably be used for gaming, just like many others before it, as wireless headsets continue to be large and only used inside.

In other words, 2023 will probably still not be the year that these headsets become widely used, according to Carolina Milanesi, a consumer tech analyst for the research firm Creative Strategies. However, there will be plenty of talk about the metaverse and virtual, augmented, and mixed goggles.

“From a consumer perspective, it’s still very uncertain what you’re spending your thousand bucks on when you’re buying a headset,” she said. “Do I have to do a meeting with V.R.? With or without legs, it’s not a necessity.”

3.Electric Vehicles Beyond Tesla. Last year, Tesla continued to dominate the market for electric vehicles (EVs), but 2023 might mark a turning point for the sector. Since Mr. Musk's takeover of Twitter, Tesla's shares have fallen precipitously this year, and its reputation has suffered. The market's competitiveness is also escalating as EV manufacturers, including Ford Motor, Kia, General Motors, Audi, and Rivian, increase their output of electric vehicles.

Tesla also declared in November that it would allow other electric vehicles to use its charging port design. That would make it possible for owners of other makes of vehicles to refuel at Tesla's charging stations, which are much more numerous than other kinds of chargers.

Also, sales of gas-powered cars will be prohibited in both California and New York by 2035. All of this creates the ideal conditions for the electric car market to grow significantly beyond just one brand in 2023.

4.New Social Media Choices. Most of 2022 saw Twitter in disarray, and 2023 is expected to be no different. Last month, in reaction to the criticism, Mr. Musk conducted a Twitter "poll" asking his fans if they thought he should step down as the company's CEO. Ten million users, or a majority, chose yes, but Mr. Musk said he wouldn't leave until someone "foolish enough to do the job" was found.

TikTok is still in trouble after its Chinese parent firm, ByteDance, revealed that an internal probe had revealed that staff members had improperly collected user data from American users, including that of two journalists. The information puts pressure on the Biden administration to think about imposing even stricter limitations on the app in the US.

Whatever happens to Twitter and TikTok, it's certain that social media is undergoing a significant change. A social network called Mastodon, which resembles Twitter in appearance, has attracted many journalists, techies, and influencers. Yet many younger people have already switched to more recent apps like BeReal, where pals can keep in touch by simultaneously taking and sharing selfies.
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Which new social networking app will be a huge deal in 2023 is a mystery. Mastodon has lost about 30% of the million users they gained because of changes at Twitter. Yet, one thing is for certain: Those who are offended by Twitter are looking for a friendly environment where they can hang around.

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Technology Is Transforming the Real Estate Market

3/5/2023

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We bought our first home in late 1968. We watched it being built and even installed sound cables in the walls before they dry-walled, so we’d have a sound system for the whole home. Those days were called ‘container days.’ Contractors erected the container and left the homeowner to finish the rest. 

Now, 45 years later, the sector is being upended by smart home technology, creating a large market opportunity for investors, entrepreneurs, designers, and builders. The smart home industry, which was estimated to be worth $79 billion in 2020, is expected to increase to $314 billion by 2027, according to recent research from Mordor Intelligence.

Consumer curiosity is being sparked by ideas like touchless interactions and energy-saving whole-home automation. With new government efficiency standards demanding the replacement or modification of current systems, automated heating and cooling will be in high demand. All residential central air-source heat pump systems sold in the United States starting in January 2023 must adhere to new minimum energy efficiency standards.

This smart home movement focuses on enhancing the experience of living in the home, from automating appliances that anticipate and comprehend the homeowner's demands to programming devices to act consistently. Grandview Research's forecast of an excellent 31% compound annual growth rate between 2021 and 2030 for smart kitchens and security and surveillance technology installations.

Consider PIN-activated keyless door locks or smart doorbells that are always aware of visitors (or deliveries) arriving. Automated exterior lighting and AI-powered public space video cameras that monitor neighborhood activity will be in demand for multi-family developments.

Because the smart home industry has developed over the last five years and is ready to transition from "do it yourself" to "do it for me," there is a huge market opportunity. Consumers will probably start looking for pre-built homes with tailored technology more frequently. According to a Coldwell Banker Real Estate survey, 61% of millennials and 59% of parents with children living in the home choose smart-tech homes, while 71% of purchasers desire a tech-enabled, "move-in ready" home.

New artificial intelligence (AI) technology that automatically changes ambience routines to meet resident patterns and preferences makes this possible. Thermal windows that conserve energy improve a house's overall efficiency. Each smart home's devices are programmed to cooperate with one another and connect to a centralized home management app that is very easy to use and administer. Such systems receive routine cloud updates, and all hardware is dispersed across the home's primary hub. Technology seamlessly merges into the building's simple interior design.

With most software solutions available via the cloud, second-generation AI-powered smart home equipment self-learns and adapts to routines and preferences, getting better over time. All devices are coordinated and synced in the smart home setup, and they are all made accessible via a computer or a smartphone. A smart home with a genius Intellect, perhaps.

Designers and builders must rethink household space in light of increasing urban density and environmental sustainability. Compared to older homes, the modern urban home uses space more effectively, is more flexible, and is more responsive. It is cozy and friendly. The COVID-19 pandemic had a significant influence that shouldn't be understated, since it confirmed long-held notions that the home can and should improve the health and wellbeing of its occupants.

A multi-family neighborhood outside of Portland's center dubbed HOMMA HAUS Mount Tabor, with 18 two-bedroom residences, is a pioneering prototype. This type of house must have an adaptable modern design, multi-functional use of space, and curated, pre-configured technology built in before the resident occupies the area. This sort of house should serve as the cornerstone of holistic well-being for its residents.

Urban areas that are expanding, like Portland, tend to have residents who value a deep relationship with environment and routinely engage in outdoor activities. Innovations like this one make use of organic-feeling materials that foster a sense of kinship with nature. The environment is improved by thoughtfully chosen oak flooring, Corian kitchen counters, and cedar fencing. Bamboo and tree landscaping produces shade and further reduces noise to keep the residences quiet.

Real estate will place more emphasis on striking a balance between protecting residents' privacy and fostering a sense of community. This is made possible by clever technology working in tandem with well-planned communal areas. Contemporary housing projects frequently contain courtyards that provide a good blend of quiet space and communal gathering area.
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Urban living that is holistic and adaptable will be the industry's driving force as it develops. Modern architecture, design, and technology are blended into one product, the home, which is constructed to bring beauty, comfort, and wellbeing. Astute builders will do this. Investors, CEOs of large corporations, and startup founders should monitor these developments and be prepared to seize the opportunities they will bring about.
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Qualcomm To Bring Satellite SOS Feature to Android Users

2/26/2023

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The iPhone 14's standout feature when it was released by Apple last fall was a satellite-based communication service for emergency calls outside the range of cellular networks. Recently, Qualcomm announced their plans to add a comparable feature to several advanced Android phones.

In some regions, starting in the second half of this year, premium Android handsets running Qualcomm's Snapdragon 8 Gen 2 Mobile Platform will be able to connect to a satellite-based two-way messaging system.
Snapdragon Satellite from Qualcomm is the Android community's response to Apple's Emergency SOS feature. iPhone 14 users who go outside the usual wireless network range can send their whereabouts if they get lost using a network of satellites and ground relay stations Apple helps fund.

Users are instructed to point their phones at a satellite so that it can transfer information to a ground station and the emergency services. However, freshly purchased iPhones come with a complimentary two-year subscription to Emergency SOS. Whether consumers will have to pay for Snapdragon Satellite is unclear. Last summer, T-Mobile unveiled a comparable Starlink function that supported SMS, MMS, and compatible messaging apps.   
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Currently available models with Snapdragon 8 Gen 2 include the Xiaomi 13 series, Moto X40, and Vivo X90 Pro+, while more are on the way from Asus, OnePlus, and Sony. Qualcomm hasn't revealed precisely which phones would first receive Snapdragon Satellite.
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Phishing Attack Hackers Have a New Trick and It’s Working

2/19/2023

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Cybercriminals are experimenting with a new method of delivering the dangerous payload and employing specially prepared phishing emails to infect users with malware.

According to a study by Proofpoint, digital OneNote notebooks (denoted by “.one” extensions) are increasingly being used by cyber-attackers to spread malware. OneNote is included in the Microsoft 365 office software bundle and a widely used piece of software.

OneNote documents are rarely misused in this manner, according to cybersecurity professionals, and there is only one clear reason attackers are experimenting with them: they can more readily avoid threat detection than other attachments. And it seems to be effective.

According to statistics from open-source malware repositories, initially observed attachments were not identified as dangerous by several anti-virus engines. As a result, it is likely that the original campaigns had a high success rate if the email was not stopped, according to Proofpoint.

Proofpoint expanded on the study findings by saying, ”Since Microsoft began blocking macros by default in 2022, threat actors have experimented with many new tactics, techniques, and procedures, including use of previously infrequently observed file types such as virtual hard disk (VHD), compiled HTML (CHM), and now OneNote (.one)."

The phishing emails are attempting to deliver one of several malware payloads, including AsyncRAT, Redline, AgentTesla, and DOUBLEBACK, all of which are designed to steal sensitive information from victims, including usernames and passwords. The phishing emails were first sent in December 2022, with the number significantly increasing in January 2023.

Researchers from Proofpoint also report that a cybercriminal organization they track by the name of TA577has used OneNote in campaigns to distribute Qbot. TA577 operates as an initial access broker, selling stolen usernames and passwords to other cybercriminals, including ransomware gangs, as opposed to stealing data for its own use.

There have been over 60 of these campaigns found so far, and they all have the same traits. Emails and file attachments are connected to topics like invoicing, remittances, shipping, and seasonal themes, such as details on a Christmas bonus, among others.

For instance, attachment names in a phishing letter addressed to targets in the manufacturing and industrial sectors included references to machine parts and specifications, showing that the lure had undergone extensive investigation.

Other OneNote efforts target thousands of potential victims all at once and are a little broader. One of these efforts used fake invoices to target the education industry, while another was more broadly disseminated and promised a Christmas bonus or present to thousands of unsuspecting victims.

The victim must open the email, open the OneNote attachment, and click on any harmful links for the phishing scam to succeed in each instance. OneNote does include a warning message regarding dangerous URLs, but users who have received an email that has been specially tailored to appeal to them or who believe they may be receiving a bonus may attempt to ignore this warning.

Researchers caution that additional cyber-threat groups will probably use this strategy successfully to distribute phishing and malware campaigns because it is expected that these efforts will succeed frequently if the emails are not stopped.
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"Proofpoint has increasingly observed OneNote attachments being used to deliver malware. Based on our research, we believe multiple threat actors are using OneNote attachments to bypass threat detections," said researchers, who warn that this is "concerning" because, as demonstrated by TA577, this tactic can become an initial entry point for distributing ransomware, which could cripple a whole organization and its networks.
"This is a phishing technique that convinces a victim to open a document with an embedded malicious attachment and then bypass a security prompt to run the attachment. We encourage customers to practice good computing habits online, including exercising caution when clicking on links to webpages or opening unknown files," a Microsoft spokesperson said.

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Microsoft and Google React to ChatGPT in Different Ways

2/12/2023

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Last Tuesday, Microsoft held a press briefing to announce two new web-based software upgrades. The same AI technology that powers the chatbot ChatGPT has been updated and included in the latest edition of Microsoft's Bing search engine. A fresh experience for exploring the web and getting information online is promised by the firm as it introduces the product alongside new AI-enhanced features for its Edge browser.

“It’s a new day in search,” said Microsoft CEO Satya Nadella at an event announcing the products. The paradigm for web search, according to Nadella, hasn't changed in decades, but AI can offer information more swiftly and fluidly than conventional techniques.

“The race starts today, and we’re going to move and move fast,” Nadella said. “Most importantly, we want to have a lot of fun innovating again in search, because it’s high time.”

Today, the company showed how "the new Bing" operated in a variety of settings. One of settings allows users to interact directly with the Bing chatbot by asking it questions in a chat interface like ChatGPT, while another mode displays conventional search results alongside AI annotations.

Microsoft demonstrated several sample searches, including looking for travel advice, recipes, and Ikea furnishings. Bing was instructed to "prepare an itinerary for each day of a 5-day trip to Mexico City" in one demonstration. The chatbot provided a complete response, including a general itinerary and providing links to more resources.

The new Bing, unlike ChatGPT, which is limited to information up to the end of 2021, can also find news about recent occurrences. In the demonstrations, the search engine could even respond to inquiries regarding its own launch by identifying news articles that had been posted within the previous hour.

Microsoft says these features are all powered by an upgraded version of GPT 3.5, the AI OpenAI language model that powers ChatGPT. Microsoft calls this the “Prometheus Model,” and says it’s more powerful than GPT 3.5, and better able to answer search queries with up-to-date information and annotated answers.

The new Bing is live today “for desktop limited preview,” but it appears users can only “ask” one of several preset queries and receive the same results each time. There is also a waitlist to sign up for full access in the future.

Microsoft is also introducing "chat" and "compose," two new AI-enhanced services for its Edge browser. They'll be integrated into Edge's sidebar.

While "compose" serves as a writing helper, helping to generate text, from emails to social media postings, depending on a few initial cues, "chat" enables users to summarize the webpage or document they're viewing and ask questions about its contents.

The launch of the new Bing coincides with a flurry of AI activity from rival Google and Microsoft. The popularity of AI text production has skyrocketed since ChatGPT went live on the internet last November. Microsoft is looking to capitalize on this enthusiasm and has already disclosed how this technology would be incorporated across its suite of office applications. Microsoft has a strong partnership with OpenAI, the company that created ChatGPT.

Google, on the other hand, was unprepared for what some consider to be a fundamental shift in how users find information online. The introduction of ChatGPT is said to have set off a "code red" within the search engine behemoth, with founders Larry Page and Sergey Brin—who had been absent—being called in to help deal with what would pose a danger to the company's main source of income.

In an effort to beat Microsoft's launch, Google released on Monday, Bard, its own ChatGPT. The program was referred to as an "experimental conversational AI service" by CEO Sundar Pichai, who said that it was still being evaluated by a few users and will only be made available to a wider audience in the upcoming weeks. We’ll have more on where these technologies are headed in next week’s issue of the newsletter.

One pitfall to using this level of AI is that it will make mistakes and present the misinformation as though it were fact. Microsoft is well aware of this problem and had a warning placed in Bing’s user interface: “Let's study together. AI powers Bing, thus unexpected outcomes and errors are conceivable. Verify the information and provide feedback so we can grow and learn.”
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Finally, there will be other difficulties that haven’t been addressed yet. The income stream that keeps many websites afloat is removed if AI tools like the new Bing collect material from the web without people clicking through to the source. The effectiveness of this new search paradigm will depend on maintaining some of the previous agreements.
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The Dedicated Mobile Hotspot Router

2/5/2023

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Your phone probably has a built-in hotspot feature that enables you to share your internet connection with other devices, regardless of whether you use an iPhone or an Android smartphone.

It's a nice function, but if you use it frequently, a separate mobile hotspot router will probably serve you better.

During my working career, I traveled over 4 million miles and over half of that travel was on trips where I relied on a mobile hotspot router for my Internet connection.

In my first years using a mobile hotspot router, I used hardware from a variety of manufacturers. But, within a couple of years, I had focused on Netgear and have used their routers ever since.

The newest device from Netgear is the Nighthawk M6 Pro and it’s the top hotspot router on the market today. It is important to note that the M6 Pro is only available on the AT&T network in the US. The M6 model is still a superb router and can come unlocked to be used with any telecom vendor.

At this point, you must be asking why? Why have this expensive peripheral when its functionality is bundled already into my smartphone?

It's because mobile hotspot routers are more adaptable and filled with cool capabilities.

First, I use my phone for a variety of purposes throughout the day and don't want to tie it up with always providing the Internet to gadgets. It is inconvenient and severely drains the battery. Two years ago, my wife and I decided to ‘cut the cord’ and get rid of our landline. Now, my smartphone is our primary contact number and I want it always available. The only thing my mobile hot spot router has to do is connect the Internet to all of my accompanying devices.

The Nighthawk M6 and M6 Pro can connect up to 32 devices to the Internet by using the built-in battery to fill up to 2,000 square feet of space with high-speed Wi-Fi for up to 13 hours using the available 5G & 4G LTE networks. If you need more power, connect it to a power bank or other USB charger that’s available.

If your smartphone doesn't have an unlimited data plan, controlling your internet consumption on your phone is crucial. Setting up a separate plan just for data with a cellular carrier for your mobile hotspot router will eliminate those overage costs on your phone’s plan. And in those situations where your device can take advantage of an Ethernet connection, this mobile hotspot router can provide that Ethernet port.

The Nighthawk M6 and M6 Pro's ability to capture cellular signals is also impressive. These mobile routers perform better and had a stronger signal than my iPhone 14 Pro, which makes them a wonderful option for signal-poor locations. In those situations where there appears to be a poor cellular signal, you can connect an external antenna to the TS-9 ports of the router.

Another feature of the M6 and M6 Pro is its ability to provide Internet service even at home. The mobile router can connect directly to your network and allow you to switch over to cellular should your main Internet connection go down.
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Finally, when you need Internet connections at a campsite, remote construction site or even an emergency scene, use your mobile hotspot router to create a bubble of Wi-Fi service wherever you are. The router will also create a QR code on its display so any smartphone can easily connect to the service with its camera.
Once you’ve used one, you’ll find it really hard to go back to using your smartphone’s hotspot feature.

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Microsoft’s ChatGPT Play May Be a Game Changer in AI Arms Race

1/29/2023

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Bloomberg initially reported last week that Microsoft is in talks with Open AI, the firm that developed the well-known A.I. chatbot called ChatGPT that recently caught the internet by storm, to invest as much as $10 billion in the company. In a note to clients on Wednesday, Wedbush tech analyst Dan Ives referred to ChatGPT as one of the "most inventive A.I. technologies" in history and "a possible game changer" for Microsoft.

He said that amid the global AI weapons race, Microsoft is turning into a "central A.I. play" for investors, writing, "We feel this strategic investment is a smart poker move."

The price of Microsoft shares has increased by around 3% recently but has decreased by almost 25% over the previous year because of the general bear market. Ives, though, asserted that OpenAI's technology will find wide use at the multinational tech company and that, over the following ten years, it will be "completely integrated" into the company's whole product line.

Microsoft has previously dabbled in the artificial intelligence space, so this isn’t their first exposure to the nascent technology. To create new A.I.-enabled supercomputing technologies for its cloud platform, Azure, the tech giant, even invested $1 billion in OpenAI back in 2019. The company has been developing its own A.I. technology for years (check out VALL-E, the A.I. that can copy your voice after listening to a three-second audio clip). Microsoft is apparently taking another bite at the AI apple now that OpenAI has raised money at a $29 billion valuation and attracted over 1 million users to ChatGPT less than a week after its launch in early December. Ives thinks this is the appropriate strategy.

He said, referring to Microsoft CEO Satya Nadella, "While ChatGPT is inherently a high cash burn situation today, we view this as a strategic step for Nadella & Co. to double down on its artificial intelligence strategy as new use cases raise unprecedented demand for AI solutions."

Ives asserted that by integrating ChatGPT into the Office suite of programs and employing the technology to give users better search results with Bing, Microsoft will be able to challenge Google's hegemony over the industry. According to Statcounter, Bing only accounts for 3% of the global search engine industry at the moment, while Google holds 93% of the market. Ives, however, thinks that might change if Microsoft can provide "more sophisticated search capabilities and language models."

Ives additionally asserted that Microsoft's video game division might use OpenAI's technology. Activision Blizzard, one of the biggest gaming firms in the world, is presently being purchased by Microsoft for $69 billion. However, it has run into opposition from the U.S. Federal Trade Commission (FTC) and the U.K. Competition and Markets Authority (CMA), both of which contend that the acquisition will stifle competition in the gaming sector.

Ives said that Microsoft will ultimately prevail in its "fight" with the FTC, saying that this is "another move for the corporation to double down on its gaming endeavors with this technology finding further applications inside the video game and digital art business."

However, not everyone is as optimistic about the potential game-changing application of AI. Teachers have started to question whether ChatGPT spells the end of the college essay after some critics have dubbed it unsafe. Elon Musk, CEO of Tesla, previously referred to AI in general as "summoning the demon" in a 2014 interview. Elon Musk was also one of OpenAI's early backers.
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Musk stated in a tweet on December 3 that ChatGPT was "scary good" and that "we are not far from dangerously strong A.I." However, Ives thinks that for investors, developments in artificial intelligence might be a gold mine, with Microsoft being one winner. He has a buy rating of "Outperform" and a $290 12-month price objective for the company. The company recently closed at $239.
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ChatGPT May Be Coming to Microsoft Outlook, Word and PowerPoint

1/22/2023

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ChatGPT was created by the technology company OpenAI. Microsoft is now testing the AI language as an enhancement to its Office suite of products, including Word, Outlook and PowerPoint.

OpenAI has had a lot of press lately given that their AI products ChatGPT and Dall-E 2

For their ability to produce text and images, OpenAI's intuitive technology products, such as ChatGPT and Dall-E 2, have become online sensations. Many people have made assumptions about the ethical and practical use of ChatGPT. Microsoft is attempting to make better use of the company's AI models, though. According to The Information, the business has already updated its autocomplete feature with a version of the OpenAI GPT text-generator model.

Microsoft has been testing GPT AI model functionality in Outlook and PowerPoint. These include tools that enable users to locate Outlook search results in email inboxes using speech-like AI-driven commands rather than keywords. Additionally, AI models for Outlook and Word will propose email responses or offer edits to documents to improve writing abilities. There is no information yet on whether this use will eventually be incorporated into consumer-facing versions of Microsoft Office or if the company is merely exploring the GPT model's potential.
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Microsoft invested $1 billion in OpenAI in 2019, and according to the report, "acquired an exclusive license to the underlying technology behind GPT-3 in 2020," before this practical application of the GPT technology.
Microsoft may aim to integrate the GPT AI model into its Bing search engine besides its Office suite to compete with Google. According to The Verge, this could be the item that is most likely to be released, with a potential release date of March.

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    Rick Richardson, CPA, CITP, CGMA

    Rick is the editor of the weekly newsletter, Technology This Week. You can subscribe to it by visiting the website.

    Rick is also the Managing Partner of Richardson Media & Technologies, LLC. Prior to forming his current company, he had a 28-year career in technology with Ernst & Young, the last twelve years of which he served as National Director of Technology.

    Mr. Richardson has been named to the "Technology 100"- the annual honors list of the 100 key achievers in technology in America. He has also been honored by the American Institute of CPAs with two Lifetime Achievement awards and a Special Career Recognition Award for his contributions to the profession in the field of technology.

    In 2012, Rick was inducted into the Accounting Hall of Fame by CPA Practice Advisor Magazine. He has also been named to the 100 most influential individuals in the accounting profession in America by Accounting Today magazine.

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