Capital One Hacker Stole Data From More Than 30 Entities

Former Amazon employee Paige Thompson, charged with hacking Capital One Financial records, illegally accessed terabytes of data from 30+ other companies and institutions, according to authorities. Thompson, arrested July 29, was accused of stealing 106 million Capital One records, considered to be one of the largest thefts of cloud-based data. Court documents reveal that Thompson stole 140,000 Social Security numbers, 80,000 bank account numbers, millions of credit card applications and one million Canadian social insurance numbers. Continue reading Capital One Hacker Stole Data From More Than 30 Entities

Capital One Breach Exposes Data of 106 Million Customers

A hacker accessed the personal data of about 106 million credit card customers and applicants of Capital One Financial, the fifth-largest credit card company in the U.S., making it one of the biggest such breaches of a large bank. Federal authorities arrested 33-year old Paige Thompson, who is accused of breaking through the bank’s firewall to access data stored on Amazon’s cloud service. Most of those exposed by the hack were customers and small businesses who applied for credit cards between 2005 and early 2019. Continue reading Capital One Breach Exposes Data of 106 Million Customers

Accounting, Finance Industries Demand Explainable AI Tools

As artificial intelligence-based tools become more widespread in the business industry, cloud service companies are debuting tools that explain the artificial intelligence algorithms they use to provide more transparency and assure users of their ethical behavior. That’s because regulated industries are demanding it. Capital One and Bank of America are just two such companies interested in using AI to improve detection of fraud, but want to know how the algorithms work before they implement such tools. Continue reading Accounting, Finance Industries Demand Explainable AI Tools

Amazon in Talks on Bank Product with JPMorgan, Capital One

According to sources, Amazon is currently in discussions with JPMorgan Chase and other banks about creating a product similar to a checking account aimed at a younger demographic. These early stage talks may not result in anything tangible, and are not intended to turn Amazon into a bank. What the product would do is further integrate Amazon into its customers’ lives, from Whole Foods, Kindle, Alexa and its website. The new product would also potentially cut fees Amazon currently pays to banks and provide more customer data. Continue reading Amazon in Talks on Bank Product with JPMorgan, Capital One

AWS Expands Cloud Efforts with New Machine-Learning Tools

To compete in the profitable cloud-computing arena, Amazon Web Services debuted 20 new machine-learning tools this week at the AWS re:Invent conference in Las Vegas. Tools include speech recognition and algorithms to automate decisions. The move helps Amazon compete better with Google and Microsoft, both of which are using their expertise in AI and machine learning to cut into its market share. Machine learning will also help potential developers that can’t create these capabilities on their own. Analysts estimate that Amazon dominates the cloud with a 44 percent market share. Continue reading AWS Expands Cloud Efforts with New Machine-Learning Tools

Slack Faces Off Against Bigger Competitors, Tweaks Software

Slack came to life three years ago, out of a failed video game, and, as messaging software, combines rich data on how people use a product with information on how people feel about using it. When it debuted in 2014, word of mouth catapulted Slack to a value of $4 billion. Now, the private company has attracted competition from Microsoft, which last fall unveiled Teams, free to 85 million users of Office 365, and Facebook with its free collaboration tool Workplace. A smaller company, Atlassian, has also had success. Continue reading Slack Faces Off Against Bigger Competitors, Tweaks Software

Banks Make Move to Real-Time Person-to-Person Payments

J.P. Morgan Chase, Wells Fargo and other banks just introduced real-time person-to-person payments — something PayPal’s Venmo has done for years — to their five year-old joint effort clearXchange. Previously, clearXchange could take up to three days to transfer money. PayPal upped its game, by signing a deal with Visa to let Venmo and PayPal app users instantly access monies they receive. PayPal and the banks collect no fees on these transactions, which they regard as a gateway to other, paid services. Continue reading Banks Make Move to Real-Time Person-to-Person Payments

Amazon Alexa Skills Grow Ten-Fold via Third Party Developers

Amazon’s Echo, Dot and Tap smart speakers have started to attract the attention of developers interested in adding so-called skills to Alexa, the speakers’ voice-computing platform. Amazon reports that Alexa now has 1,000 skills, an explosion since Alexa’s skills numbered 130 apps in January. Echo debuted last June, when Amazon offered it by invite; now Amazon has brought Alexa to its Fire TV platform and third party hardware manufacturers have also brought Alexa to other connected devices. Continue reading Amazon Alexa Skills Grow Ten-Fold via Third Party Developers

Amazon’s Alexa Moves Artificial Intelligence Into Mainstream

Amazon spent years to bring Echo from an idea to an intelligent, voice-controlled product that could play music, order groceries and read the news out loud. Amazon chief executive Jeff Bezos demanded perfection, bringing latency levels to below 1.5 seconds, and the result is that Echo and its virtual assistant Alexa are a hit. In less than two weeks, Echo hit a million pre-orders, which took the iPhone 70 days to achieve. Amazon is now letting third-party hardware manufacturers integrate Alexa into their products. Continue reading Amazon’s Alexa Moves Artificial Intelligence Into Mainstream