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Gen AI Enhancing Data Security and Privacy in India, Infogain CISO shares insights with ObserveNow

According to a blog post released by Resecurity, an American cybersecurity firm, revealed that personally identifiable information of 815 million Indian citizens, such as Aadhaar numbers and passport details, is being sold on the dark web. It states that the data is being offered for $80,000 and has been verified as authentic. The sellers of this data claim it was obtained from the Indian Council of Medical Research (ICMR), which faced around 6,000 cyber-attack attempts last year. The critical need to bring in strong cybersecurity measures and traditional techniques are finding it hard to keep up with the constantly evolving cyber threats.

This is where Artificial Intelligence (AI) proves to be transformative. AI goes beyond merely detecting threats; it aims to create a cybersecurity framework in India that can withstand future challenges. The integration of AI with blockchain technology can provide tamper-resistant data storage, significantly enhancing defenses against hackers.

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By leveraging advanced encryption and authentication methods, anomaly detection, and dynamic risk assessment, Gen AI enhances data security while preserving privacy. These AI-driven approaches not only provide innovative solutions for protecting sensitive information but also promote collaborative threat intelligence sharing and ethical governance, ensuring accountability and respect for individual rights. This comprehensive approach underscores the potential of Gen AI to safeguard citizen data in an increasingly interconnected world. In this regard, Siddharth Mala, Correspondent, ObserveNow interacted with Ravinder Arora, Global CISO & Data Protection Officer, Infogain.

 

Here are a few edited excerpts from the interview:

How do Gen AI approaches address the challenges of securing citizen data in an increasingly complex digital ecosystem?

Ans. Gen AI approaches offer a multifaceted strategy for securing citizen data in an increasingly complex digital ecosystem through advanced encryption and authentication methods, anomaly detection, and threat monitoring. They enable privacy-preserving data analysis and adapt security measures dynamically. AI facilitates collaborative threat intelligence sharing and incorporates ethical governance principles to ensure accountability and respect for individual rights. These approaches collectively enhance data security while safeguarding privacy in an ever-evolving digital landscape.

⁃ Advanced encryption and authentication methods:

  • Such as homomorphic encryption, which allows computations to be performed on encrypted data without decrypting it. This ensures that even if data is intercepted, it remains secure.
  • AI-powered authentication methods such as biometrics or behavioral analysis can enhance security by verifying the identity of users without relying solely on passwords.

⁃ Anomaly detection, and threat monitoring:

  • AI algorithms can continuously monitor network traffic, user behavior, and system logs to identify anomalies or suspicious activities indicative of potential security breaches. These systems can detect patterns that human analysts might miss.
  • Enabling rapid response to the emerging threats and minimizing the impact of security incidents.

⁃ Privacy-Preserving Data Analysis: Gen AI approaches enable organizations to perform data analysis while preserving the privacy of individual citizens.

  • Techniques such as federated learning allow models to be trained across distributed datasets without sharing sensitive information.
  • Differential privacy techniques add noise to query results, ensuring that aggregate insights can be derived without compromising the privacy of individual data points.

⁃ Dynamic Risk Assessment and Adaptive Security Measures:

  • Gen AI approaches enable dynamic risk assessment by continuously evaluating the security posture of systems and adapting security measures accordingly.
  • AI algorithms can prioritize security resources based on the current threat landscape and adjust access controls or security configurations in real-time to mitigate emerging risks.

⁃ Collaborative Threat Intelligence Sharing:

  • AI-powered platforms facilitate collaborative threat intelligence sharing among organizations, allowing them to collectively pool their knowledge and resources to defend against common threats.
  • By aggregating and analyzing security data from multiple sources, these platforms can identify global trends and provide early warnings about potential cyberattacks.

⁃ Ethical AI Governance and Accountability:

  • Gen AI systems incorporate ethical considerations into their design and operation, ensuring that security measures respect individual rights and societal values.
  • Transparency and accountability mechanisms enable stakeholders to understand how AI algorithms make security decisions and hold responsible parties accountable for their actions.

Can you elaborate on the ethical considerations associated with utilizing citizen data in Gen AI applications, and how these concerns are addressed?

Ans. Utilizing citizen data in Gen AI applications raises ethical concerns including privacy, consent, bias, and discrimination. To address these, measures such as informed consent, robust data security, bias mitigation, and public engagement are essential. Ethical guidelines, privacy-preserving technologies, independent oversight, and algorithmic audits can help ensure responsible development and deployment of Gen AI, balancing benefits with risks to individuals and society.

Some of the key points of considerations are:

Privacy concern: Collecting and using citizen data for Gen AI applications can potentially infringe upon individuals’ privacy rights. This data may include sensitive personal information such as genetic data, health records, behavioral patterns, and biometric data. There is a risk of unauthorized access, misuse, or unintended disclosure of this information.

Informed Consent: Obtaining informed consent from individuals before collecting and using their data is essential. However, in the case of genetic data, there are additional complexities. Genetic information is inherently identifiable and carries implications not only for the individual but also for their biological relatives. Therefore, ensuring that individuals fully understand the implications of sharing their genetic data is crucial.

Data Security: Safeguarding citizen data against unauthorized access, breaches, and misuse is paramount. Gen AI applications should implement robust security measures, including encryption, access controls, and regular security audits, to protect sensitive information.

Bias and Fairness: Biases in data collection and algorithmic decision-making can lead to unfair or discriminatory outcomes, especially in healthcare and other critical domains. Gen AI applications must be designed and tested to mitigate biases and ensure fairness, transparency, and accountability in their decision-making processes.

Ownership and Control: Clarifying the ownership and control of citizen data is essential. Individuals should have the right to access, modify, and delete their data, as well as the ability to revoke consent for its use in Gen AI applications at any time.

The above concerns can be addressed by applying several strategies:

Ethical Guidelines and Regulations: Governments, industry bodies, and research institutions can develop and enforce ethical guidelines and regulations governing the collection, use, and sharing of citizen data in Gen AI applications. These guidelines should prioritize privacy, consent, transparency, fairness, and accountability.

⁃ Ethical Review Boards: Establishing independent ethical review boards or committees to evaluate the ethical implications of Gen AI research and applications can provide oversight and ensure adherence to ethical principles.

Algorithmic Audits and Impact Assessments: Conducting regular audits and impact assessments of Gen AI algorithms and systems can identify and address biases, risks, and unintended consequences.

Privacy-Preserving Technologies: Utilizing privacy-preserving technologies such as differential privacy, and homomorphic encryption can enable the analysis of sensitive data while protecting individual privacy.

Gen AI approaches are pivotal in addressing the multifaceted challenges of securing citizen data within a complex digital ecosystem. Through advanced encryption, AI-powered authentication, continuous anomaly detection, and adaptive security measures, these technologies offer a proactive defense against emerging threats. Moreover, by facilitating privacy-preserving data analysis and fostering collaborative threat intelligence sharing, Gen AI promotes a safer and more resilient digital environment. Coupled with a strong ethical framework, including informed consent, bias mitigation, and transparency, Gen AI ensures that the protection of citizen data is balanced with respect for individual privacy and societal values. These efforts collectively enhance the security landscape, demonstrating the critical role of Gen AI in the digital age.

GD Goenka Group Appoints Varun Reddy Sevva as CHRO

The GD Goenka Group announced on Monday the appointment of Varun Reddy Sevva as its new Chief Human Resources Officer (CHRO).

Sevva brings over 14 years of diverse experience in various human resources domains, including talent management, employee engagement, HR operations, and compliance across multiple industry sectors. His previous professional roles include positions at Samsung Electronics and Apollo Tyres.

Gaurav Himkar, CEO of GD Goenka Group, expressed his enthusiasm about the new appointment, stating, “Mr. Sevva’s arrival underscores GD Goenka Group’s dedication to fostering a dynamic and inclusive work environment. We are confident that under his leadership as CHRO, the group will continue to grow, achieving new heights of success with high-performing teams and enhanced talent management.”

Expressing his gratitude, Sevva remarked, “I am honoured to join this esteemed organisation that has revolutionised education in the country. I am confident that my experience and skills will help drive the group’s ongoing success through the implementation of growth-oriented and employee-centric HR practices.”

Sevva’s academic credentials include an MBA in Human Resources from IIM Lucknow, a BTech from NIT Kurukshetra, and a PGDM in HRM from XLRI Jamshedpur.

Nandakumar Velayudhan Pillai Appointed Director (Refineries) of MRPL

Nandakumar Velayudhan Pillai has been appointed as the new Director (Refineries) of Mangalore Refinery & Petrochemicals Limited (MRPL). The decision was made during a Public Enterprises Selection Board (PESB) meeting held on May 31, 2024. Pillai is currently serving as the Group General Manager (Corporate Strategy) at MRPL.

The appointment of Pillai to the post of Director (Refineries) is subject to vigilance clearances and the approval of the Appointments Committee of the Cabinet. This crucial step ensures that all necessary checks are completed before he formally assumes his new role.

The selection process for this high-profile position was highly competitive, with a total of 12 applicants being interviewed. Pillai’s selection is a testament to his extensive experience and strategic expertise within MRPL.

Indian Startups Secure $1.3 Billion in May, Marking 2024’s Highest Funding Month

May witnessed a significant surge in investments for Indian startups, surpassing the $1.3 billion mark, the highest monthly funding in 2024 so far. This increase was driven by notable deals such as Google and Flipkart’s $350 million agreement, several rounds exceeding $100 million, and numerous growth-stage investments.

According to data from startup intelligence platform TheKredible, Indian startups raised $1.34 billion across 128 deals in May. This included 39 growth-stage deals amounting to $1.19 billion and 66 early-stage deals totaling $154 million. Additionally, there were 23 undisclosed rounds, mainly early-stage.

The last unicorn in the Indian startup ecosystem was produced in March with Perfios joining the exclusive club. So far this year, there have been two new unicorns, with Bhavish Aggarwal’s AI startup Krutrim being the first.

Month-on-Month and Year-on-Year Trends

May saw a nearly 29% increase in funding compared to April, which recorded a little over $1 billion. Year-on-year, May 2024 experienced a 32% rise from $1.01 billion in May 2023. Since January, Indian startups have raised over $5.1 billion, on track to potentially reach $12 billion by year-end. In 2023, total funding amounted to $11.3 billion.

Top Growth-Stage Deals

The top growth-stage deal in May was Flipkart’s $350 million equity funding from Google. This was followed by SaaS firm Atlan’s $105 million Series C round and healthtech startup NephroPlus’s $102 million Series F round. Other notable deals included D2C performance wear brand TechnoSport and fast fashion brand Libas, raising $21 million and $18 million, respectively, in their maiden fundraises. The top 10 also featured NBFC startup Annapurna Finance, B2B e-commerce unicorn Infra.Market, EV startups Battery Smart, GreenCell Mobility, and Ather Energy, edtech firm K12 Techno, and fintech company Propelld.

Top Early-Stage Deals

Among early-stage deals, agritech startup Superplum led with $15 million in Series A funding, followed by UnifyApps with $11 million in seed funding. Other significant early-stage deals included Soleos Solar Energy, Vegapay, Turno, DiFacto, Celcius Logistics, Flam, CoverSure, and Fyllo.

The robust funding in May, driven by several large deals, indicates growing investor confidence in the Indian startup market. This revival, despite potential delays from investors awaiting election outcomes, suggests a promising outlook for funding flows in the coming months.

Aditya School of Business Management Unveils Two Post-Graduate Diploma Programs

Mumbai: In a move set to redefine educational standards, the renowned Aditya School of Business Management, operating under the esteemed Aditya Group, proudly announces the inauguration of two new Post-Graduate Diploma Programs: PGDM in Artificial Intelligence & Data Science and PGDM in Business Analytics, effective from the upcoming academic year 2024-2025. These groundbreaking programs aim to pioneer innovation in education, providing students with the essential tools and guidance to excel in the swiftly evolving landscape of technology-driven industries.

Dr. A.S. Suresh Iyer, Director of Aditya School of Business Management, emphasized the imperative role of data-centric professions in today’s digital economy. He highlighted the burgeoning demand for skilled personnel in data science and management, attributing it to the rapid expansion of the digital realm. Dr. Iyer underscored the transformative potential of artificial intelligence (AI), particularly in its generative form, as a catalyst for innovation across various sectors.

The PGDM in Artificial Intelligence & Data Science promises a comprehensive curriculum covering data models, machine learning, and AI, empowering students with in-depth knowledge in these domains. Meanwhile, the PGDM in Business Analytics offers a holistic approach to strategy and business insights.

Dr. Iyer expressed anticipation regarding the impact of these pioneering programs, envisioning a paradigm shift in the educational landscape. He reiterated the institution’s commitment to providing students with cutting-edge, industry-aligned programs, fostering innovation and value creation. These programs, he asserted, are poised to become the premier PGDM courses in Mumbai.

The curriculum, designed to cultivate students’ ability to make informed business decisions, encompasses subjects such as data visualization, statistical analysis, and quantitative approaches. Such innovative pedagogy aims to prepare students for lucrative career opportunities in technology, healthcare, retail, and finance.

Through a blend of theoretical learning and practical experiences, students will acquire competencies vital for success in a data-driven world. Aditya School of Business Management’s robust infrastructure, experienced faculty, and industry collaborations facilitate internships and real-world employment opportunities, ensuring students are well-prepared for the demands of the job market.

Prospective students from diverse backgrounds with a keen interest in artificial intelligence and business analytics are encouraged to explore these pioneering PGDM programs, poised to shape the future of the industry.

DPIIT promoting Manufacturing Incubators for Startups

The Department for Promotion of Industry and Internal Trade (DPIIT) is actively promoting the establishment of manufacturing incubators to stimulate innovation within startups. Recognizing the pivotal role of manufacturing in economic growth, DPIIT aims to bolster India’s manufacturing sector by fostering collaboration between startups and industry players while providing crucial support through dedicated incubation centers.

In recent years, India has witnessed significant strides in diversifying its manufacturing landscape, driven by landmark reforms and initiatives. This momentum underscores the importance of nurturing innovation alongside production expansion. Startups have emerged as key contributors to this innovation drive, reshaping global value chains and elevating India’s manufacturing prowess through their ingenuity.

DPIIT’s efforts to promote manufacturing incubation were highlighted during events such as the ‘Startup Mahakumbh’ festival and the ‘ONDC-Startup Mahotsav’, where discussions emphasized the significance of these incubators in fostering innovation. Moreover, DPIIT has collaborated with autonomous institutes like the National Council for Cement and Building Materials (NCCBM) and the Indian Rubber Manufacturers Research Association (IRMRA) to establish specialized incubation centers, catering to specific industry segments.

Manufacturing-focused incubators offer startups essential resources and facilities for product development and early-stage manufacturing, thereby facilitating their growth trajectory. These incubators also serve as intermediaries between startups and established companies, providing access to pilot facilities, design centers, and market opportunities.

Corporates are encouraged to engage in incubating manufacturing startups, as it offers them a competitive edge in the global market. By collaborating with startups, corporates can leverage innovative solutions, reduce R&D costs, and expedite product development, thereby enhancing their market position and fostering intrapreneurship.

Through government initiatives like Startup India, Atal Incubation Centres (AICs), and others, eligible entities can access additional support and benefits for incubator programs. Such initiatives aim to strengthen India’s manufacturing ecosystem and promote self-reliance on a global scale.

IIT-Bhubaneswar Partners with Institute of Life Sciences for Technical Education Collaboration

The Indian Institute of Technology-Bhubaneswar has recently forged a Memorandum of Understanding (MoU) with the Institute of Life Sciences (ILS) aimed at fostering collaboration in technical education and research endeavors. Notably, both institutions will concentrate efforts on developing a vaccine to combat tuberculosis, according to officials.

Shreepad Karmalkar, Director of IIT Bhubaneswar, highlighted that this partnership will significantly contribute to advancing research in various life sciences domains, potentially leading to groundbreaking discoveries in disease prevention and treatment.

The joint initiative, with a primary emphasis on tuberculosis vaccine development, is expected to amplify ongoing endeavors in this crucial area, stated ILS Director Debasis Dash.

Moreover, the collaboration aims to elevate the standard of technical education, particularly in biological sciences, molecular biology, and microbiology, as per officials.

Dash expressed optimism about the transformative impact of this MoU, envisioning not only significant advancements in biological sciences research but also the establishment of Odisha as a prominent hub in this field.

IIM Bangalore launches online undergraduate programme on Digital Business and Entrepreneurship

IIM Bangalore has announced its debut undergraduate programme titled ‘Digital Business and Entrepreneurship’. This innovative three-year course, offered through the school’s digital learning platform IIMBx, is set to commence classes in September 2024.

Led by Prof. Suresh Bhagavatula, a senior faculty member in Entrepreneurship, the BBA programme will blend digital technology, business management principles, and an entrepreneurial mindset. It marks a significant milestone for the institution as it becomes the first among the prestigious IIMs to offer an undergraduate course.

Designed to equip students with skills for the digital future, the curriculum will feature internship opportunities, practical projects, and a flexible exit policy in alignment with educational policies. The programme aims to produce graduates ready to navigate the evolving and competitive business landscape, whether as entrepreneurs, digital enterprise professionals, or contributors to traditional businesses’ digital transformation.

Professor Rishikesha T Krishnan, Director of IIM Bangalore, emphasizes the programme’s role in addressing India’s educational challenges and fostering a digitally adept workforce. The BBA in Digital Business and Entrepreneurship seeks to democratize education, boost India’s Gross Enrolment Ratio in higher education, and empower graduates with the ability to drive change and innovation in the business realm.

Key components of the programme include interactive sessions, internship opportunities, and collaborative projects aimed at providing students with a dynamic learning environment. Prof. Vasanthi Srinivasan, Chairperson of Digital Learning at IIMB, highlights the diverse pedagogical approaches, including faculty videos, readings, assignments, and real-world simulations, designed to ensure learner engagement and satisfaction.

Furthermore, the programme emphasizes networking and collaboration, offering students opportunities to connect with industry professionals and explore diverse career pathways within the digital, business, and entrepreneurial spheres. With its fusion of digital and management fundamentals, the BBA in Digital Business and Entrepreneurship aims to empower students not only as job seekers but also as innovative entrepreneurs poised to make a tangible impact in the digital age.

Trapped by Tradition, Gender Roles Stifle in Indian Entrepreneur Ecosystem

In traditional Indian society, men are often viewed as the natural leaders and providers, which extends into the corporate world where male dominance is prevalent. Many women are not trusted with senior positions and significant responsibilities. However, the recent WISER report challenges these outdated perceptions. It reveals that the percentage of women-led startups in India increased from 10% to 18% between 2017 and 2021. Additionally, the proportion of women-led unicorn startups grew from 8% in 2017 to 17% in 2022. These startups are also securing more funding, with women-led ventures receiving 20% of the total $21.9 billion invested in the startup ecosystem by 2022.

Despite these promising statistics, the reality for women entrepreneurs in India remains challenging. Cultural and social biases, limited access to finance, and other obstacles persist. Women hold only 5% of leadership positions in the Indian corporate sector, and the country ranks 57th out of 65 in the Mastercard Index of Women Entrepreneurs.

Women’s economic contribution to India’s GDP is 17%, far below the global average of 40%. A 2019 Reserve Bank of India survey highlighted that only 5.9% of startups were founded exclusively by women, while 55.5% had solely male founders. However, 38.6% had both male and female co-founders, showing some balance in gender representation.

Women entrepreneurs face several challenges, including limited resources, restricted freedom of movement, family responsibilities, and safety concerns. Many women-owned businesses are small, home-based, and informal, limiting their market reach and ability to secure substantial funding. Additionally, digital skills are often lacking due to limited access to education and technology.

In this regard, Siddharth Mala, Correspondent, ObserveNow Media engaged with female entrepreneurs to gather their perspectives on the subject.

Gender Biasness Hinders Female Entrepreneurial Success

Gender stereotypes also hinder women’s business pursuits, with societal expectations confining them to caregiving roles. Only 19% of working-age women in India are engaged in formal, paid employment. Balancing family duties with business is a constant struggle, and women often face difficulties in securing funding due to limited property rights and control over business decisions.

Commenting on the same Akanksha Sharma, Co- founder & CEO, CITTA stated “Gender disparity in funding for startups led by women prevails in the Indian startup ecosystem. This complex issue has stemmed from systemic gender bias and cultural norms both from potential clients and investors. Women entrepreneurs face challenges as they are often being undervalued, underestimated, and overlooked. Due to a number of factors like lack of representation in decision-making positions within venture capital firms, stereotypes about their leadership capabilities, and implicit bias, women founders encounter challenges in accessing funding. Additionally, it is saddening to see that investors perceive women-led startups as riskier investments.”

Gender Imbalance Continues to Plague Prestigious Educational Institutions

In the 1990s, the ratio of women candidates to men at IITs was almost 10 to 1, with 10 representing the number of men; it gradually became 4 to 1 in the 2000s.

After the introduction of supernumerary seats for women at IITs in 2018, most IIT campuses were able to meet the requirement of having 20% girls as mandated by the Ministry of Human Resource Development (MHRD). In 2018, almost 3,000 girls had confirmed admissions at the IITs, many more than the 995 women who applied in 2017. In the past five years, the IITs have not only maintained 20% of women candidates at campuses but also increased the number of women beyond 20% in many courses.

Shreya Sharma, Founder, Rest The Case underscored “Networking is crucial for securing funding, and indeed, men from institutions like IIT/IIM often benefit from robust alumni networks and connections that can facilitate funding opportunities. The underrepresentation of women in these institutions does limit their access to similar networks. However, I also believe that women are increasingly creating and leveraging their own networks, such as women-centric business groups and mentorship programs. While the traditional networks might be less accessible, the growth of alternative networks can provide significant support and opportunities for women entrepreneurs. It’s essential for the ecosystem to recognize and nurture these networks to bridge the gap.”

While Commenting on the same Jaya Bhura, Co-founder and Director, Chakraview Solutions added “Limited networks are a hurdle, but not the only one. We need to create inclusive investor ecosystems and empower women to build strong connections. Mentoring programs and angel investor groups focused on women founders can bridge the gap. My success with Chakraview shows alternative paths exist; focus on the strength of your idea and its potential impact.”

VC funding remains elusive for women-led startups

Venture Capital (VC) funding for women dropped to 9.3% in 2023 from 14.7% in 2021, with female founders in India securing less than 10% of the total funding for the year. This lagged behind Europe and the US, further exacerbating the gender-disparity gap, as highlighted in the 2023 annual report by WinPe.

Similar data by the World Bank-backed International Finance Corporation (IFC) showed that in emerging markets, only 11% of seed funding goes to startups with women on their founding teams, and the figures are even lower for late-stage funding–underscoring the stark gender gap.

“Women entrepreneurs encounter challenges in building connections and networking in this male-dominated venture capital industry. This has further limited their ability to secure funding and generate sales, further hindering the scalability and growth of women-led startups. Timely advice and support are critical for any startup to flourish. Efforts need to be made to address this disparity and promote gender diversity among investors. Targeted support and mentorship can help women entrepreneurs thrive and challenge unconscious biases that come their way” concluded Akansha.

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