October 19, 2017
Plans announced for Digital City on Toronto waterfront
Sidewalk Labs, owned by Google’s parent company, Alphabet, is to build a ‘digital city’ in Toronto to showcase smart city technology and a range of other cutting edge innovations and examples of best practice. The aim is to turn the Eastern waterfront area of the city into a working laboratory for a range of technologies such as fast wi-fi, millions of smart city sensors, sustainable energy and autonomous cars. The over 3 million s. ft. mixed-use development in Toronto will also be built using cutting edge innovations in construction. Google is already set to become the first major tenant in the development with an office for 300 employees of its Canadian HQ. Sidewalk Labs and the local authorities hope to turn the area into a “place for tens of thousands of people to live, work, learn and play – and to create and advance new ideas that improve city life”.
The number of large scale Internet of Things (IoT) projects have doubled in the last year, as projects move from small pilots to global rollouts, according to Vodafone’s fifth annual IoT Barometer Report. The range of benefits that users are getting from IoT is also widening as adoption increases – greater business insights, reduced costs and improved employee productivity top the list globally. Large scale users report some of the biggest business gains with 67 percent of them highlighting significant returns from the use of IoT. Energy and utility companies are at the forefront of the largest IoT projects worldwide, with applications such as smart meters and pipeline monitoring. Security in IoT is still the biggest barrier for organisations regarding deployment. However, in companies with 10,000 or more connected devices in operation only 7 percent say security is their top worry. Organisations are taking more steps to tackle security concerns including an increase in security training for existing staff, working with specialist security providers and recruiting more IT security specialists.
Cyber risk is becoming increasingly common while the types of breaches are becoming more diverse, claims a new white paper by the audit and accounting expert BDO. For instance, ransomware is now the fifth most common type of malware; with the cost of freeing up computer systems from ransomware tripling since 2016. Yet organisations are continuing to spend up to four times more on insuring other company assets (e.g. property, equipment etc.) than on cyber insurance, despite an increasingly widespread belief that their cyber assets are in fact up to 14 percent more valuable. The report also finds that as cyber incidents increase, they become more difficult – and therefore more expensive – to defend. In the new cyber insurance white paper, BDO’s global cybersecurity leadership group stresses the importance of businesses gaining an understanding of their unique risk profiles in order to ensure the right cyber insurance for their needs. Cyber insurance: managing the risk does include some of the positive trends around cyber security – for example, both the level of Board involvement and investments in cybersecurity have increased significantly in the last 2-3 years.
Some individuals within local government are holding back tech to preserve the status quo – a new survey suggests. According to the research, these people feel threatened by new technology and believe it will be disruptive to their ways of working. While the survey by 8×8 of staff working in local government suggested a significant appetite for new technology, more than a fifth (22 percent) say certain individuals are holding back tech adoption to preserve the status quo. This view is more prevalent amongst those in IT procurement, where more than a third (35 percent) believe colleagues are standing in the way of technology because it will disrupt what they already have in place. Only 51 percent of respondents believe senior management understand the importance of new technology and just 21 percent think they invest enough money to stay up to date with the latest developments. This contrasts with the private sector, where over half (56 percent) believe there is sufficient investment in new technology.
