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Balbix Unveils BIX: the Industry’s First GenAI Powered Assistant for Cyber Risk and Exposure Management

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BIX enables cybersecurity and business leaders to gain insight into their exposures and speed up cyber risk burn down while keeping your cyber risk data private.
LAS VEGAS, Aug. 6, 2024 /PRNewswire/ — Balbix, an AI-powered Cyber Risk and Exposure Management platform, introduced its BIX conversational AI assistant at Blackhat USA 2024. The BIX AI assistant is already in use at many Fortune 1000 companies as part of an early access program.

Today, managing cyber risks requires identifying key vulnerabilities and understanding related threats, analyzing attack paths, evaluating the potential impact on business, and assessing how well security controls will work. Each of these tasks requires specific tools, integrations, dashboards, reports, and tickets with remediation steps, as well as dedicated personnel to oversee and manage these activities. However, with vast amounts of data from different sources, it is very challenging to understand and prioritize these risks and act quickly. Communicating cyber risks to those outside the security team is particularly difficult, as they often don’t grasp the technical details or the consequences of potential security breaches.
Imagine if managing cyber risk was as easy as asking a colleague a question and getting a clear, actionable answer. What if you could also instruct your assistant to keep relevant stakeholders informed about their responsibilities and deadlines, and to provide you with periodic updates? Picture every key player in cybersecurity— from the CISO, CIO, VM teams and security operations to IT staff and legal teams—having their own AI assistants to help manage their part of the cyber risk and exposure management puzzle, conversing in role-appropriate language. Today we are taking a huge step forward towards this vision.
BIX has the following key capabilities:
Personalization: BIX customizes its choice of words, detail level, recommendations, and interactions according to the user’s role, preferences, and past conversations. For example, BIX can explain the financial impact of a threat like “Log4j” in monetary terms to executives while also identifying specific cases and suggesting mitigating actions when interacting with IT staff.Context Awareness: From time to time, we all use Google, ChatGPT and other tools to understand risk concepts on a generic level. BIX integrates with your cybersecurity, IT, and business systems and understands details about your assets, apps, software versions, users, and their roles in your business, specific threats facing your organization, your security measures, who’s responsible for what, who works fast and who does not, acceptable risk levels, and your target SLAs. By querying BIX, you can leverage this knowledge to help understand specific security risks and recommended mitigation tasks in context.Mobile Experience: BIX is available on your smartphone and provides answers when you need them, greatly improving your situational awareness. BIX streamlines cybersecurity decision-making by eliminating the need to consult multiple widgets and dashboards across different tools, saving you hours or even days of gathering analytics.Recommendations: In cybersecurity, it’s common to get sidetracked by irrelevant tasks or overwhelmed by endless research on complex topics, especially for less experienced IT and security staff. BIX acts like an executive assistant, guiding stakeholders by suggesting key questions to ask. This helps organizations move from a focus on threats to a more effective, risk-based approach to cybersecurity.Ed Amoroso, Founder and CEO of research and advisory firm TAG Cyber, stated, “Managing enterprise cyber risk at acceptable levels is an extremely challenging job. Unfortunately, organizations across the industry face deep cybersecurity challenges due to tools sprawl, skills gaps, and budget limitations. Further, failure to comply with regulatory requirements on materiality, patching, and timely software updates has sharply increased organizations’ financial and reputational risk”. Ed also added, “Balbix’s new AI assistant can improve overall enterprise understanding of material risks as well as operational efficiency, speeding up response times. This benefits organizations new to security and those with established large teams.”
Under the hood, BIX utilizes RAG-based Large Language Models (LLMs) running on specialized NVIDIA hardware. However, even the most advanced standalone LLMs struggle with multi-step tasks that require navigating different contexts and managing dependencies and privacy constraints. This is where BIX’s multi-agent architecture comes in, breaking down complex problems into discrete subtasks handled by specialized agents, often operating in different privacy domains. This enables BIX to offer a safe, accurate, and extensible approach to cybersecurity conversations and automate tasks previously considered beyond reach.
Early users of BIX have seen a dramatic improvement in their overall cyber risk and exposure management experience. Understanding risk, making decisions, and risk response times have gone down from days and weeks to minutes. Combined with the rest of Balbix’s capabilities, this has translated into sharply reduced risk and savings from productivity improvements.
“Cybersecurity is inherently complex, demanding not only extensive automation but also simplification and streamlined communication,” stated Gaurav Banga, founder and CEO of Balbix. “Until now, Balbix has used AI primarily for computational tasks in cyber risk management. We are pioneering its use to demystify the complexities of cyber risk for all stakeholders and enhance communication between them. This release of BIX is a step forward in managing risk and exposures more effectively. It marks a significant development in our ability to be proactive, rather than reactive, in our cybersecurity efforts.”
More information about the Balbix AI and BIX AI assistant can be found at https://www.balbix.com/product/ai/ AND https://www.balbix.com/blog/bix/
About BalbixBalbix enables businesses to rapidly reduce cyber risk by identifying and mitigating their riskiest cybersecurity exposures. Balbix ingests data from hundreds of security and IT tools to deliver actionable insights for risk reduction. With Balbix, businesses get a unified asset inventory, risk-based exposure and vulnerability prioritization, mobilization for remediation and mitigation activities as well as cyber risk quantification in a single platform. A rapidly growing set of Fortune 500 companies trust Balbix as the “brain” of their infosec programs. Balbix was recognized in Forbes America’s Best Startup Employers 2024, by CNBC in their 2022 Top 25 Startups for the Enterprise and ranked #32 on the 2021 Deloitte Fast 500 North America.
Media contact:Makayela [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/balbix-unveils-bix-the-industrys-first-genai-powered-assistant-for-cyber-risk-and-exposure-management-302215686.html

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Artificial Intelligence

GEEKOM releases a perfect mini PCs with dual 2.5Gbps Ethernet ports – GEEKOM GT1 MEGA

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September 20, 2024

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TAIPEI, Sept. 20, 2024 /PRNewswire/ — GEEKOM, a Taiwanese tech company also known as the Green Mini PC Global Leader, recently released a strong lineup of flagship mini PCs with Intel Core Ultra processors and dual Ethernet ports, making it possible for users to enjoy impeccable performance and superb networking functionalities at the same time.

One of these mini PCs is the GEEKOM GT1 Mega, which employs a beautiful aluminum chassis with plenty of I/O, including two full-function 40Gbps USB4 Type-C, six USB Type-A, 2 HDMI2.0, a 3.5mm audio jack, an SD card reader and dual Ethernet ports. The two Ethernet jacks are both of 2.5Gbps standard, which not only delivers high-speed and reliable internet connection for people’s daily computing chores, but also enables the mini PC to serve more sophisticated networking functionalities as a soft router, a virtual machines, a hardware firewall, or even a home server. Besides, dual Ethernet ports can separate internal and external network connections, providing logical and physical separation of trusted and untrusted network traffic and keeping data safe from potential cyber-attacks.
The GT1 Mega is powered by Intel’s latest and smartest Core™ Ultra processor (up to CoreTM U9-185H) and dual-channel DDR5-5600MHz RAM. Thanks to the new CPU, GPU, and NPU three tier multi-processing architecture, the mini PC is ready to harness the superpowers of Artificial Intelligence. It is compatible with more than 500 AI models across 20+ categories and supports high-performance low-power processing in a wide range of computing scenarios, which include enhancing facial features and blurring the background during video calls, removing the vocals from songs to create karaoke tracks, and generating large-scale images based on texts or voice commands. Basically, the GT1 Mega allows users to finish tasks that used to take hours or even days through only a few keystrokes!
The GEEKOM GT1 Mega,is now available on GEEKOM’s official website.
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Artificial Intelligence

Lucinity Partners with Sift for Unified Fraud and AML Case Management

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September 19, 2024

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SAN FRANCISCO, Sept. 19, 2024 /PRNewswire/ — Lucinity and Sift have announced a partnership, unifying fraud and Anti-Money Laundering (AML) into Lucinity’s integrated FinCrime compliance platform for case management, agent-enabled workflow automation, and Generative AI.

Sift is an AI-powered fraud platform securing digital trust for leading global businesses. Its Global Data Network analyzes more than 1 trillion events and identity signals per year to prevent fraud across the entire consumer journey. Lucinity and Sift formed this new partnership to address the challenges of fragmented fraud and AML systems, aiming to centralize and enhance financial crime investigations.
Sift’s AI-powered solution will now be integrated into Lucinity’s platform. This collaboration enhances Lucinity’s ability to provide a seamless and efficient compliance solution. It allows teams to review and manage fraud alerts more effectively through Lucinity’s unified Case Management system, thanks to the native integration between the systems. Key benefits to Lucinity’s users include:
Real-Time Fraud Screening: Payments are screened for potential fraud in real time, utilizing Sift’s fraud detection capabilities.Automatic Payment Holds: Payments suspected of fraud are temporarily held, ensuring verification before processing.Streamlined Reviews: Compliance teams can conduct thorough reviews of flagged payments within Lucinity’s Case Management solution.Risk Level Adjustments: Fraud detection parameters can be customized to adjust sensitivity levels, adapting to emerging fraud trends and risk appetites.This partnership also enables users to leverage Lucinity’s Generative AI capabilities through the Luci copilot to investigate fraud cases more efficiently.
Udi Nessimyan, President and Chief Revenue Officer of Lucinity, comments, “One of the greatest challenges in fighting financial crime is fragmented systems and data. Our partnership with Sift helps address this challenge by providing a centralized platform for various case types, including AML, fraud, sanctions, and ad hoc cases. Our collaboration significantly enhances the productivity of investigation teams, reducing the time spent on cases from hours to minutes.”
Sift’s Chief Marketing Officer, Armen Najarian, emphasizes the collaborative effort to enhance financial crime prevention, stating, “Cybercriminals are increasingly leveraging AI to bypass traditional anti-money laundering and fraud controls, creating sophisticated and dynamic threats. To combat these evolving risks, companies must adopt a ‘fight fire with fire’ approach by leveraging AI-powered solutions. Through Sift’s partnership with Lucinity, businesses can stay ahead of fraudsters, ensuring robust protection against abuse and enabling fearless growth.”
About Sift: https://sift.com About Lucinity: https://lucinity.com
Media contact:Celina [email protected] +354 792 4321

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Employee Background Check Software Market Size to Grow USD 828.8 Million by 2030 at a CAGR of 4.9% | Valuates Reports

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September 19, 2024

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BANGALORE, India, Sept. 19, 2024 /PRNewswire/ — Employee Background Check Software Market is Segmented by Type (Cloud-Based, On Premises), by Application (SMEs, Large Enterprises): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Employee Background Check Software Market was valued at USD 587 Million in 2023 and is anticipated to reach USD 828.8 Million by 2030, witnessing a CAGR of 4.9% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Employee Background Check Software Market:
The employee background check software market is growing due to increasing demands for secure hiring processes and regulatory compliance, especially in industries such as finance, healthcare, and IT. As companies look to reduce risks associated with fraud, legal liabilities, and workplace safety, background checks are becoming a critical part of recruitment processes. The rise of remote work has further accelerated the need for digital solutions. However, challenges include concerns over data privacy and varying legal frameworks across regions, which may slow adoption in some areas.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET:
Cloud-based background check software is gaining traction due to its scalability, remote access, and cost-effectiveness. With cloud-based systems, businesses can streamline their hiring processes, particularly when operating across multiple locations. The ability to access data and conduct checks in real-time is highly valuable for organizations managing large workforces or remote employees. The flexibility and lower upfront investment of cloud-based solutions make them popular among businesses seeking efficient and adaptable systems for their recruitment processes.
On-premises solutions remain important for organizations with strict security and data control requirements, such as those in government, defense, or finance. These companies often need complete ownership of their data, which on-premises software offers, reducing the risk of external breaches. Although it requires significant upfront investment and maintenance, on-premises software provides a high level of customization and security. It’s especially useful for businesses dealing with sensitive information and industries where compliance with local data protection laws is critical.
Large enterprises, particularly those operating in regulated industries like banking and healthcare, are the major adopters of employee background check software. These organizations deal with large volumes of hires, making streamlined background checks essential for compliance and operational efficiency. The ability to integrate background check systems with existing HR tools, such as applicant tracking systems, allows large companies to manage their recruitment processes more effectively. The need for comprehensive and accurate background checks is crucial for mitigating risk and ensuring legal compliance.
The rise in remote working has increased the demand for background check software that allows companies to vet employees regardless of their location. Digital background checks, particularly cloud-based ones, make it easier for organizations to screen remote workers efficiently. This trend is expected to continue as more companies adopt hybrid or fully remote work models, where geographical barriers no longer restrict talent acquisition but require thorough and remote-friendly verification processes.
As regulatory frameworks for employment practices become more stringent globally, businesses are increasingly relying on background check software to ensure compliance. Laws like the General Data Protection Regulation (GDPR) in Europe and the Fair Credit Reporting Act (FCRA) in the U.S. have made it mandatory for companies to conduct background checks within specific legal parameters. This has led to increased demand for software solutions that can automate these processes while maintaining compliance with regional and international laws.
A major trend in the employee background check software market is the integration of these solutions with human resources management systems (HRMS). Integrating background checks with HR software streamlines the hiring process by consolidating background checks, employee records, and onboarding into one system. This improves operational efficiency for businesses, particularly large enterprises that handle significant recruitment volumes. Integration with HRMS allows for real-time updates, making background screening an even more integral part of the hiring process.
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EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET SHARE
North America dominates the market due to stringent employment regulations and widespread adoption across industries. Europe is another key region, driven by GDPR compliance and demand in finance and healthcare. The Asia-Pacific region is experiencing rapid growth due to increasing awareness of the importance of background checks, especially in countries like China and India, where digital hiring platforms are becoming more popular. The market is also expanding in the Middle East and Africa as businesses prioritize secure hiring practices.
Key Companies:
HireRightGoodHireCheckrSterlingHireologyINTELIFIGood EggPeopleG2VitayCertnGlobal HR ResearchVeritable ScreeningXrefZincPaycomADPVICTIGIntelliCorp (Cisive)SpringVerifyAsurintUniversalAssureHireVerified FirstHireSafePurchase Chapters: https://reports.valuates.com/request/chaptercost/QYRE-Auto-2A10579/Global_Employee_Background_Check_Software 
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
–  Employer of Record Services market was valued at USD 128.2 Million in 2023 and is anticipated to reach USD 196 Million by 2030, witnessing a CAGR of 6.8% during the forecast period 2024-2030.
–  Employee Engagement Platform market was valued at USD 805 Million in 2023 and is anticipated to reach USD 2217.4 Million by 2030, witnessing a CAGR of 15.5% during the forecast period 2024-2030.
–  Employee Advocacy Platforms market was valued at USD 533 Million in 2023 and is anticipated to reach USD 1020.8 Million by 2030, witnessing a CAGR of 9.7% during the forecast period 2024-2030.
–  Employee Feedback Software market is projected to grow from USD 499.5 Million in 2024 to USD 1287.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.
–  Employee Productivity Tracking Software market is projected to reach USD 311.8 Million in 2029, increasing from USD 219 Million in 2022, with the CAGR of 5.2% during the period of 2023 to 2029.
–  Employee Feedback Software market is projected to grow from USD 499.5 Million in 2024 to USD 1287.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.
–  Employee Rewards and Recognition Software Market
–  Employee Productivity Monitoring Software Market
–  Employee Recognition Software market was valued at USD 2247 Million in 2023 and is anticipated to reach USD 4186.4 Million by 2030, witnessing a CAGR of 8.9% during the forecast period 2024-2030.
–  Employee Lockers Market
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