Quantum computing, insurance, insurtech, sustainability
Available For: Advising, Authoring, Influencing, Speaking
Travels From: London
Speaking Topics: Business Impact of Quantum Computing, The growth and evolution of Insurtech, Digital transformation in Insurance
Paolo Cuomo | Points |
---|---|
Academic | 0 |
Author | 108 |
Influencer | 91 |
Speaker | 61 |
Entrepreneur | 65 |
Total | 325 |
Points based upon Thinkers360 patent-pending algorithm.
Tags: Climate Change, Renewable Energy, Sustainability
Tags: Sustainability, Quantum Computing
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Tags: Digital Disruption, Digital Transformation, Innovation
Tags: Digital Disruption, Digital Transformation, Innovation
Tags: Digital Transformation, Digital Disruption, Innovation
Tags: Digital Disruption, Digital Transformation, Innovation
Tags: Digital Transformation, Digital Disruption, Innovation
Tags: Digital Transformation, Digital Disruption, Innovation
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Tags: Sustainability, Quantum Computing
Tags: Sustainability, Quantum Computing
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Tags: Sustainability, Quantum Computing
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Tags: Emerging Technology, Innovation, Quantum Computing
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Tags: Business Strategy, Digital Disruption, InsurTech
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Tags: Change Management, Digital Transformation, Leadership
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Tags: Sustainability, Climate Change, Renewable Energy
Tags: Climate Change, Renewable Energy, Sustainability
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Tags: Digital Transformation, Innovation, InsurTech
Tags: Digital Transformation, Innovation, InsurTech
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Author’s Note. This post is short. The topic is incredibly important and nuanced and worthy of a much longer article. At this point though I’m keeping this short and snappy to ensure maximum attention.
One might think that with a decade’s warning there’s plenty of time to act. Well, a couple of questions?
Even if the answer to these is ‘not currently’ then one might think with a bit of a push momentum could increase.
That however is thinking only about the future risk. Not the present risk.
Most of the petabytes of data we produce every day is of little value to anyone beyond the creator and his/her intended audience. However, as we well know there is data that can have value to third parties when stolen.
This takes multiple forms: fraud linked to theft of social security or credit card details of individuals; corporate or personal ‘blackmail’ from confidential information; corporate secrets around product design, manufacturing processes; and so many more
Most data has an “expiry date” — the point at which it ceases to have value. The expiry date on any piece of data may vary for different ‘users’ of the data.
Take a credit card number. Once the card is expired it has no obvious use to a criminal as it’s hard to make a purchase with an expired card. For the original owner, they may see value in that number at a later date if for example, they want to claim a refund on a product bought with the card.
Similarly, a young professional may at some point see no further value in photos from hedonistic college parties, while someone trying to discredit the individual in the future may find it worth holding onto those photos for a longer period.
Typically though data, becomes less valuable over time. If that time is a few years then this topic is not relevant. If the data still has value in a decade or two, then someone having access in the future is a genuine (business) problem.
If you think about it, there is plenty of data that will still have value in a decade or more — medical data, banking data, military plans, government decisions, the recipe for Coke…
Data hacks are regularly in the news. In fact it has become so common that they rarely make headlines unless there is some kind of spin — e.g., a huge number of impacted people or particularly juicy data
Those are the ones we hear about. What about those we don’t?
Given most data is encrypted both at rest and in transit stealing it in a usable form requires either a degree of luck (searching for something that accidentally hasn’t been encrypted or where the decryption key is accessible) or careful planning (by inserting yourself at a point where the data is ‘in use’ and (appropriately) not encrypted).
As such many cyber weaknesses are not a major problem as the risk and cost — to the data owner, the responsible organization, the insurer etc — of loss of well-encrypted data is far less than unencrypted data (though reputational damage may still be significant )
Enter quantum computing and HTDT.
If we think back to our opening statements, we know that we are getting close to when people will have access to quantum computers that can decrypt many of the common encryption protocols.
Thus, what if fully-encrypted data was stolen and held onto? As long as the data expiry period is longer than the period before decryption is possible there is value to the thief and damage to the original owner.
Furthermore, when a hack becomes public, changes are made to stop the problem. If data is being stolen and no noise made about it, how long might the security hole remain open allowing a continual siphoning off of that data?
This concept of harvesting data today, and then decrypting in the future is what makes this top one of real urgency. Urgent for information security teams to think about; and urgent for cyber underwriters to consider.
This topic needs broader discussion, and while it may not appear as pressing as post-pandemic recovery, and rebooting the drive around sustainability, it is deserving of a place in your “key topics for 2021” discussion list.
Image from presentation by Prof Michele Mosca to Quantum London (see video here) showing why we need to start thinking now0
The millennium bug
Some commentators draw parallels to the so-called Millennium Bug. As you may recall, this was the fear that as the two-digital year counters in older IT systems moved from 99 to 00 at midnight on 31 December 1999, computers would get confused with unpredictable and potentially devastating results.
As it turned out we all awoke on the morning of 1/1/2000 and the world was still there. Many decried the vast amounts of money spent on the problem; others pointed out that it was fine as a result of that spend!
The lack of just about any major failure back at the turn of the millennium will likely hamper communication on this risk with plenty of executives suggesting it is fear-mongering on the part of risk managers or CISOs who are looking for additional budget.
Time will tell how things play out.
Tags: Cybersecurity, Quantum Computing, Risk Management
In mid-March David Cabral posted this question on LinkedIn.
Is there a role for Space in ESG?
His post then continued as follows and tagged a number of experts and acquaintances. (Emphasis added by me.)
We are working on an exciting proposition and the role of Space has generated very heated discussions!
The Positives:
Space supports solutions that can be used to improve aspects of our world. A growing number of organisations own a fleet of small satellites that use infrared or radar to look through cloud cover and collect data to generate immediate insights into commodities, business development and environmental change (the price of micro-satellites is below $100 and dozens can be released in low orbit with a single rocket launch). These insights can: 1) generate predictions in areas such as crop yields, oil prices, prosperity; and 2) identify risks for certain industries at a corporate or local level, such as how much pollution a company’s factories emit.The Negatives:
Using rockets to launch satellites is considered a “dirty” business.Do the positives outweigh the negatives……..? Frank feedback would be appreciated!
This would have got me thinking generally. But in the context of the increasing discussions about #GreenTech & #ClimateTech my interest was doubly piqued.
Substantial comment followed as you can see if you go to the article. The parts that most stood out to me were about the low environmental impact of the launch and the plethora of examples of how satellite tech is supporting more sustainable ways of living.
Starting with the latter point: these start with the obvious — GPS allows vehicles to find the fastest route to their destination. While fastest and most fuel-efficient are not synonymous, no one can doubt the emission reduction that comes from being directed straight to your destination, rather than having to drive around for the last five minutes looking for street names and house numbers.
Maybe less obvious to most spectators is the use of satellite in farming. With such a huge share of inputs (energy and water) going into agriculture and efficiency improvement can have a notable effect. (As a side point on agriculture, the interest in this briefest of articles on Google’s agritech moonshot (called Mineral) was interesting to see.)
A third area is of course the use of satellite (for decades now) to monitor and understand the Earth and — in theory — help us make decisions around how to keep things more sustainable. Many people would comment that the reaction to what these satellites have told us is inadequate.
For those in the insurtech space, the use of satellites to support rapid reviews of claims after events — both major catastrophe events and more localised incidents — both speeds up the claims handling (leading to social good) and can remove the need to fly experts half-way across the world simply to inspect a destroyed building. (Matthew Grant posted a link to the recent InsTech London insurtech podcast about ICEYE.)
Returning to the more novel point of the carbon footprint of a small satellite.
Charles Blanchet shared a link to an article where Elon is saying the carbon cost of a lanch is offset but the use of just a free dozen Tesla cars. Bearing in mind that a single launch has multiple small satellites in it, it is clear (assuming you believe Elon’s maths) that from a pure launch carbon consideration there are minimal concerns.
Elon Musk only has to sell 59 Teslas to offset the CO2 from a single SpaceX launch within a year
thenextweb.com
Has a through-lifecycle assessment of the environmental impact of the design, construction, launch and operation as well as deorbiting of a satellite or constellation of satellites been performed? It would be surprising if the launch itself were the major factor although it is the most visible one.
This lifecycle analysis also needs to include the end-of-life handling of satellites. In the case of microsats the expectation is that most will burn up as they fall out of orbit at end of life, but with lower orbits filling us with smaller satellites and legacy junk, there is an increasing need to launch large clean-up satellites which in turn come with their own carbon footprint.
As with many sustainability-realted topics there is more complexity than the original question might suggest...
Tags: Climate Change, Emerging Technology, Sustainability
Location: Online Date Available: November 30th, 2020 Fees: 0
Submission Date: November 28th, 2020 Service Type: Service Offered