Qtr 1 | 2025

In this Issue:

The Buzz: AI Governance
service Highlight: Consulting Services for ai
Business Stats: 2024 Small Business IT Statistics/Trends
Behind the Scenes: Birthdays, Anniversaries, Promotion!
Tech Tips and Tricks: Microsoft MFA Enforcement for all users

ePress Archive

QTR 4 | 2024

THE BUZZ – AI Governance

AI Risks for Small Businesses

Security Threats, Intellectual Property Theft, Policy Gaps

As small businesses increasingly adopt AI technologies, they face critical risks surrounding security, intellectual property protection, and policy management. This article highlights these challenges and underscores their profound implications for businesses in today’s competitive environment.

Security Vulnerabilities

Data Breaches

Data breaches pose a significant threat, particularly when AI systems that manage sensitive information become prime targets for cybercriminals. The consequences of these breaches can be devastating, leading to substantial financial losses, legal repercussions, and severe damage to an organization’s reputation. Alarmingly, 43% of cyberattacks focus on small businesses, which face an average breach cost of $2.98 million (Verizon, IBM 2021). Organizations must recognize the urgency of safeguarding their data and take proactive measures to prevent such costly incidents.

AI Model Attacks

Adversarial AI model attacks pose a significant threat, capable of manipulating outputs and undermining critical decision-making processes, ultimately resulting in substantial financial losses. Alarmingly, a report by Microsoft (2020) reveals that 25% of businesses leveraging AI have fallen victim to security breaches, highlighting the urgent need for strengthened defenses against such threats.

Insider Threats

Insider threats pose a significant risk, as employees misusing AI systems can lead to devastating data leaks, legal liabilities, and costly investigations. A study by Verizon in 2020 revealed that 30% of data breaches are perpetrated by internal actors. This highlights the urgent need for organizations to safeguard against insider threats and bolster their security measures.

Intellectual Property (IP) Theft

AI-Generated IP Vulnerabilities

The vulnerability of AI-generated intellectual property (IP) stems from ambiguous ownership, which can jeopardize unique assets and trigger costly legal disputes. Remarkably, between 2013 and 2019, patent applications related to AI surged by an astonishing 175% (WIPO). This significant rise underscores the urgent need for clear guidelines and protections in the rapidly evolving landscape of AI technology.

Industrial Espionage

Industrial espionage represents a grave threat involving the illicit theft of vital business intelligence concerning artificial intelligence (AI). Such acts can result in significant losses of competitive advantage and market share for companies. Interestingly, the Commission on the Theft of American Intellectual Property estimates that intellectual property theft costs the U.S. economy an astounding $600 billion annually. This staggering figure underscores the urgent need for robust measures to safeguard against such threats and protect the integrity of American innovation.

Internal AI Policies

Undefined AI Governance

The absence of strong AI governance can lead to inconsistent applications, ethical failures, and significant quality control challenges. Only 30% of companies have established an AI ethics policy (KPMG 2020). This highlights a critical gap that must be addressed to ensure responsible and effective AI deployment.

Inadequate Employee Training

Insufficient employee training and a shortage of AI skills can result in critical tool misuse, costly errors, and heightened vulnerability to cyberattacks. Alarmingly, 55% of businesses cite a lack of AI skills as a major barrier to adoption (O’Reilly, 2021). Organizations must prioritize training to harness AI effectively or risk falling behind in an increasingly competitive landscape.

Compliance Risks

Non-compliance with AI regulations represents a significant compliance risk that can result in severe penalties, unexpected retroactive costs, and disruptions to business operations. With the increasing importance of regulatory adherence, it is anticipated that by 2024, 75% of large enterprises will invest in hiring AI specialists to safeguard their brand and reputation (Gartner). Embracing this proactive approach is crucial for navigating the complex landscape of AI governance and protecting the future of their businesses.

Mitigation Strategies

Invest in AI-specific cybersecurity measures.
Develop strategies to protect AI-generated IP.
Establish comprehensive internal AI governance policies.
Provide ongoing AI training for employees.
Stay informed about and enforce compliance with AI regulations.

By proactively addressing these risks, small businesses can harness the power of AI more effectively, positioning themselves for success while minimizing potential downfalls in today’s fast-evolving technological landscape.

Totality Residents

Business Owners

Solution Highlight – Business continuity

business Continuity is the ability to maintain critical functions in the event of an emergency or disruption.

As a business owner, have you ever considered what would happen to your operations in a sudden disruption or emergency? Business Continuity is the process of preparing for and responding to these types of situations to ensure that your company can maintain critical functions during and after a crisis.

Leading organizations make business continuity a top priority because maintaining critical functions after an emergency or disruption can be the difference between the success and failure of a business. A quick recovery time is crucial if key business capabilities fail. The plan for recovery needs to include roles and responsibilities, as well as which systems need to be recovered and in which order.

Business continuity planning is a critical aspect of any organization that aims to remain operational during and after a crisis. It involves initiating a planning project that includes a business impact analysis (BIA) and risk assessment. These are crucial steps that help gather essential information for developing a comprehensive business continuity plan.

A business impact analysis is an essential tool that helps organizations identify potential weaknesses and the consequences of a disaster on different departments of an organization. It helps organizations prioritize the most critical functions and systems to focus on in a business continuity plan. Conducting a BIA can reveal possible vulnerabilities and provide insights into the potential risks that can affect the organization’s operations and reputation.

Risk assessment is another crucial aspect of business continuity planning. It identifies potential hazards, such as natural disasters, cyber-attacks, and technology failures, to name a few. It also details what or who a risk could harm and the likelihood of such dangers. A risk assessment helps organizations understand the types of risks they face and how to manage them effectively.

Business continuity management involves designating a person or a team to manage the program in case of a business disruption. It could be one person if it’s a small business or a whole team for a larger organization. Business continuity management software is also an option. Software, whether on-premises or cloud-based, can help organizations conduct BIAs, create and update plans, and identify areas of risk.

Business continuity is an ongoing process that requires an organization to communicate its contents to as many people as possible. It’s essential to have training exercises so that employees know what to do in the event of a disruption. Testing is also critical to the success of a business continuity plan. A tabletop exercise or a full emergency simulation can help test the plan. Regular testing, review, and updating are necessary for comprehensive business continuity planning. In conclusion, business continuity planning is an evolving process that requires a proactive approach to managing risks and disruptions. Organizations that take the time to conduct a BIA, risk assessment, and develop a comprehensive plan are better prepared to manage crises and remain operational during and after a disaster.

Don’t wait until it’s too late. Let us help you invest in your business continuity plan and protect your business from unforeseen events.

Best Business Continuity and Best Data Backup & Recovery Solutions Company for 2024!

Business Stats: 2024 SMall business STATISTICS & trends

Keeping up with the latest trends is crucial for small business owners to stay informed, improve productivity, understand customers, and drive sustainable growth in the ever-changing business landscape. The business statistics below will provide an insightful overview of small businesses in 2024.

49% of SMB owners said their business performed somewhat or much better than anticipated in 2023, while only 21% stated it was worse than expected.
By the end of 2023, 47% of small business owners generated new customers, 30% made a profit, and 26% implemented new technologies.
When asked what these new technologies were, small business owners were most likely to have implemented technology for AI (50%), productivity or collaboration (41%), or communication (34%).
75% believe the changes and improvements to their business in 2023 will pay off throughout 2024.
16% of Small business owners acknowledged the need to update their technology without the budget to do, and 14% feel the technology they use for their business is outdated (14%).
Business owners are taking quick action to keep their businesses thriving. They are expanding marketing efforts to bring in new customers (51%), setting money aside for emergency use (45%), and exploring new technologies to increase productivity and efficiency (43%).
60% of small business owners expect to increase their budget this year, with 50% planning to allocate it toward technology and infrastructure.
35% are excited to implement new tech or update tech for their business in 2024 — and of those, 49% are planning to implement new productivity and collaboration tools, as well as other software tools (53%) — reflecting a clear inclination toward maximizing efficiency with limited resources.

Birthdays

Tava – 01/09

Heather 03/17

Welcome the newest member of the DCR family, baby Karson!

Karson Eugene Mitchell

JAnuary 27th, 2024

6 pounds, 14 ounces, 20 inches

Anniversaries

Robert 02/21 – 18 Years

Tava 03/19 – 4 Years

Tech Tip – Identifying Fake Mobile Apps

Fake apps are created to harm users and their devices

These apps are designed to look legitimate but carry out malicious activities such as monitoring your activities, installing malware, showing annoying ads, or stealing your personal information.

Fake apps can be dangerous and involve ad bots, billing fraud, botnets, hostile content, hostile downloads, phishing, privilege escalation, ransomware, rooting, spam, spyware, and trojans.

To spot fake apps, check the reviews, look for grammar errors in the app description, research the developer, check the number of downloads, review the permission agreement, check the update frequency, and scrutinize the app icon.

Be wary of apps with low ratings, numerous user complaints, or uniformly positive reviews, which could be fake. Watch out for grammatical errors in the app description. Check the number of downloads and the release date. Research the developer to determine if they are reputable. Read the permission agreement before downloading an app, and be cautious of apps that ask for unnecessary authorizations. Apps that update too frequently may have security vulnerabilities. Finally, scrutinize the app icon, as fake apps often display icons similar to those of the actual app they are copying.