#FactCheck - Viral image claiming to show injury marks of the MP Kangana Ranaut slapped is fake & misleading

Introduction

India’s digital growth journey has been moving at a tremendous pace. According to MeitY’s report, India’s digital economy is expected to rise to US$ 500 billion by 2025, up from US$ 200 billion in 2019. The digitisation drive that we are experiencing is likely to foster and boost a favourable business environment that will attract rapid investment and augment economic growth across sectors. This will, in turn, compel businesses to adopt digital platforms as solutions to meet customer expectations. Due to accelerated digitisation, cyber risks often deter business growth. Cybercrimes are becoming more rampant and complex and the costs associated with such breaches are not only increasing but also becoming more systemic.

Development of the Cyber Insurance Landscape

Digitization of businesses started in the 1980s with the use of mainframes. Personal computers entered the game and further modified the landscape from the 2000s along with LANs, the internet and the dot-com boom of the 2000s. In the late 1990s, cyber-insurance was developed as a risk management tool to ensure information security. Coverage was limited, and clients included SMEs in need of insurance to qualify for tenders, or community banks too small to hedge the risks of their online banking operations. The first cyber insurance policy was written in 1997 through AIG, against hacking as a third-party liability policy. 

The current trends in the cyber insurance space are focused on the prevention of cyber risks, which by nature are hard to outline and constantly evolving. The result is that the buyers have limited clarity on the types of cyber risks covered under cyber insurance, and even lesser visibility on the scope and amount of optimum coverage. Unfamiliarity with the claim procedure and resolutions, ambiguous claim thresholds during settlements, and confusion around exclusions and coverage of regulatory fines and penalties under a purchased scheme further discourage potential buyers from seriously investing in cyber insurance products. 

Key Factors in Cyber Insurance Evolution and Its Role in Risk Management

The cyber insurance market in India has three key influencing factors, namely the speed of achieving digital maturity, government initiatives to digitise and enforce stringent cyber laws, and the evolving landscape with technology giants and MNCs entering the cyber insurance domain. The latter  are the catalyst for intensifying competition in this market. 

Advancements in technology in terms of AI, machine learning, big data, robotics, blockchain, augmented and virtual reality, and IoT are expected to reshape the insurance industry and help reach untapped audiences in a more digital-forward manner. With the absence of a standard cyber insurance policy, regulators need to take the following variables into consideration while developing cyber insurance policies: the risk insured against, the scope of the loss covered and the limits/ sub-limits.

Challenges 

With the complexity of cyber risks increasing exponentially the challenges to counter the same are growing too which is leading to gaps in the coverage offered for cyber threats. Resultantly, the compliance regulations are dependent on the risks which exist and cyber threat actors adopt new technologies faster and exploit them to their benefit. A lack of historical data and predictability in future cyber risks, the possibility of large overwhelming loss events, uncertainties among market participants about what is specifically covered under such policies, and legal battles over fundamental issues are some of the challenges identified.

Future Outlook/ Recommendations

India's cyber infrastructure requires a multi-faceted approach that involves collaboration between government, industry, and academia should be developed. Some recommendations are:

• Risk assessments should be a general practice and the cyber insurance policies should be simplified, clearing the mismatch between the premium paid and insurance coverage and there should be standard verbosity across cyber policy language.
• Promoting R&D tailored to India focused on education programs that have public-private partnerships and global collaborations to share threat intelligence, best practices, and expertise in critical infrastructure protection.
• Cyber insurance can also be promoted as compliance with the DPDP Act, which would lead to better development of cyber infrastructure and cyber hygiene practices.
• Regular updates to cyber insurance policies to ensure relevance and effectiveness. Insurers could create and offer holistic cyber insurance risk management plans.

Conclusion

According to a report by Deloitte in 2023, the cyber insurance market in India is expected to grow by 27-30 per cent in the coming years and it is currently valued at USD 50-60 million, while maintaining a steady 27-30 per cent CAGR in the past three years. The Indian cyber infrastructure’s nature is challenging, however, it offers opportunities for growth, innovation, and collaboration. A proactive approach, supported by robust policies, advanced technologies, and skilled professionals, will be essential to building a resilient cyber infrastructure capable of withstanding evolving threats.

Reference

• https://www2.deloitte.com/content/dam/Deloitte/nl/Documents/financial-services/deloitte-nl-fsi-demystifying-cyber-insurance-coverage-report.pdf
• https://www.dnaindia.com/business/report-what-s-cyber-liablity-insurance-and-why-you-may-need-it-2136556‍
• https://economictimes.indiatimes.com/industry/banking/finance/insure/cyber-insurance-gains-momentum-in-india-set-to-witness-exponential-growth-deloitte/articleshow/104189297.cms?from=mdr

Introduction

National AVGC-XR stands for National Animation, Visual Effects, Gaming, Comics, and Extended Reality. On 21 Aug 2024 Shri Sanjay Jaju, Secretary, Ministry of Information and Broadcasting, Speaking at the 5th Global AVGC and Immersive Media Summit 2024,  announced that the National AVGC-XR Policy will be implemented soon. National AVGC-XR policy aims to facilitate investment, foster innovation, ensure skill development, protect intellectual property and help build world-class infrastructure. Additionally, Atul Kumar Tiwari, Secretary of Ministry of Skills and Entrepreneurship, said that the Centre's decision to revamp 1,000 ITIs is pivotal in aligning workforce skills with AVGC industry needs. He called for enhanced intellectual property rights to retain talent and content in India.

Key Highlights of National AVGC-XR Policy 

• The policy will be implemented in conjunction with the National AVGC-XR Mission to improve India's AVGC sectors through infrastructure development, skill enhancement, innovation, and regulatory support.
• The policy aims to improve India's international competitiveness in the AVGC industry, specifically by supporting the creation of unique intellectual properties (IPs) that can gain worldwide acclaim.
• The policy acknowledges the significance of adapting and converting content for various international viewers, which has become easier considering technological advancements.
• The government is dedicated to providing strong policies and financial backing to the AVGC industry, ensuring that India continues to be a worldwide leader in the sector.

Tech-driven trends in the AVGC-XR Sector promoting exponential growth

• Advancements in technology specifically when we talk about the Animation and VFX industry, emerging trends such as AR, VR, and real-time 3D technology, are driving the expansion of the metaverse, resulting in a rising need for fresh jobs and broadening uses beyond gaming into education, e-commerce, and entertainment. Moreover, the transition to cloud-oriented production processes and the increase in unique or original content on OTT platforms are improving cooperation and propelling industry growth. To drive expansion, global OTT leaders are commissioning more original content. This has increased the need for VFX, post-production, and animation services.
• Technological advancements in India's gaming industry, like cloud gaming, increased popularity of mobile gaming, the introduction of 5G and 6G, and recognition of e-gaming at national and international forums, are breaking down obstacles and fueling swift growth, positioning India as a key player in growing e-gaming sector worldwide. Furthermore, the integration of gamification and XR in education and training is generating immersive experiences that improve learning and skill building, contributing to the expansion of the AVGC-XR industry.
• The comics industry is being transformed by technological advancements like digital technology and self-publishing, which are increasing access and distribution through online platforms and social media. The rising popularity of graphic novels and the greater use of digital comics, particularly among young audiences with smartphones, are fueling substantial growth in the AVGC-XR industry.
• The use of AR, VR, and MR (Mixed Reality) technologies is rapidly growing due to tech-driven trends in Extended Reality (XR), transforming industries such as healthcare, education, and retail. The rising number of startups in this sector, boosted by higher venture capital funding, is speeding up the uptake of XR services, establishing it as a primary catalyst of innovation and expansion in various industries.

Final Words:

Just like the IT revolution, the Indian AVGC-XR industry along with technological trends and advancements has great potential. With the growth in various sectors within the AVGC industry, the right policy framework in place and government support, it will be forefront of India’s global standing in the AVGC sectoral growth including various Intellectual Property (IP), creations, and outsourcing services. The proposed AVGC-XR policy with a forward-thinking approach will drive the industry growth. Thus, a comprehensive integrated and collaborative approach is essential. Furthermore with rising trends in technological space including the use of AR, VR, cloud spaces, 6G and expansion of the OTT sector, the safe and secure use in terms of cybersecurity is encouraged to ultimately protect the interest of users and establish a safe secure cyber world driven by exponential growth in various sectors including AVGC. We’re at the cusp of a new era, where we’re looking at technological advancements not as a tool but as a way of life, hence safe and secure usage remains a top priority.

References: 

1. https://www.cii.in/PressreleasesDetail.aspx?enc=IkIXRoaDhS+jXtgjqb7UcbWSnaI7mgIS485nHsQEMbw
2. https://www.thehindu.com/sci-tech/technology/avgc-xr-policy-to-be-implemented-in-tandem-with-national-avgc-xr-mission-ib-secretary/article68550433.ece#:~:text=Speaking%20at%20the%20Fifth%20Global,competitiveness%20by%20fostering%20infrastructure%20development%2C
3. https://mib.gov.in/sites/default/files/Annexure%20C-AVGC-XR%20-%20Draft%20for%20National%20Policy_16th%20December%202022-AG%20EDIT.pdf
4. https://www.drishtiias.com/daily-updates/daily-news-analysis/potential-of-india-s-avgc-xr-sector

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Introduction

The G7 nations, a group of the most powerful economies, have recently turned their attention to the critical issue of cybercrimes and (AI) Artificial Intelligence. G7 summit has provided an essential platform for discussing the threats and crimes occurring from AI and lack of cybersecurity. These nations have united to share their expertise, resources, diplomatic efforts and strategies to fight against cybercrimes. In this blog, we shall investigate the recent development and initiatives undertaken by G7 nations, exploring their joint efforts to combat cybercrime and navigate the evolving landscape of artificial intelligence. We shall also explore the new and emerging trends in cybersecurity, providing insights into ongoing challenges and innovative approaches adopted by the G7 nations and the wider international community.

G7 Nations and AI

Each of these nations have launched cooperative efforts and measures to combat cybercrime successfully. They intend to increase their collective capacities in detecting, preventing, and responding to cyber assaults by exchanging intelligence, best practices, and experience. G7 nations are attempting to develop a strong cybersecurity architecture capable of countering increasingly complex cyber-attacks through information-sharing platforms, collaborative training programs, and joint exercises.

The G7 Summit provided an important forum for in-depth debates on the role of artificial intelligence (AI) in cybersecurity. Recognising AI’s transformational potential, the G7 nations have participated in extensive discussions to investigate its advantages and address the related concerns, guaranteeing responsible research and use. The nation also recognises the ethical, legal, and security considerations of deploying AI cybersecurity.

Worldwide Rise of Ransomware

High-profile ransomware attacks have drawn global attention, emphasising the need to combat this expanding threat. These attacks have harmed organisations of all sizes and industries, leading to data breaches, operational outages, and, in some circumstances, the loss of sensitive information. The implications of such assaults go beyond financial loss, frequently resulting in reputational harm, legal penalties, and service delays that affect consumers, clients, and the public. The increase in high-profile ransomware incidents has garnered attention worldwide, Cybercriminals have adopted a multi-faceted approach to ransomware attacks, combining techniques such as phishing, exploit kits, and supply chain Using spear-phishing, exploit kits, and supply chain hacks to obtain unauthorised access to networks and spread the ransomware. This degree of expertise and flexibility presents a substantial challenge to organisations attempting to protect against such attacks.

Focusing On AI and Upcoming Threats

During the G7 summit, one of the key topics for discussion on the role of AI (Artificial Intelligence) in shaping the future, Leaders and policymakers discuss the benefits and dangers of AI adoption in cybersecurity. Recognising AI’s revolutionary capacity, they investigate its potential to improve defence capabilities, predict future threats, and secure vital infrastructure. Furthermore, the G7 countries emphasise the necessity of international collaboration in reaping the advantages of AI while reducing the hazards. They recognise that cyber dangers transcend national borders and must be combated together. Collaboration in areas such as exchanging threat intelligence, developing shared standards, and promoting best practices is emphasised to boost global cybersecurity defences. The G7 conference hopes to set a global agenda that encourages responsible AI research and deployment by emphasising the role of AI in cybersecurity. The summit’s sessions present a path for maximising AI’s promise while tackling the problems and dangers connected with its implementation.

As the G7 countries traverse the complicated convergence of AI and cybersecurity, their emphasis on collaboration, responsible practices, and innovation lays the groundwork for international collaboration in confronting growing cyber threats. The G7 countries aspire to establish robust and secure digital environments that defend essential infrastructure, protect individuals’ privacy, and encourage trust in the digital sphere by collaboratively leveraging the potential of AI.

Promoting Responsible Al development and usage

The G7 conference will focus on developing frameworks that encourage ethical AI development. This includes fostering openness, accountability, and justice in AI systems. The emphasis is on eliminating biases in data and algorithms and ensuring that AI technologies are inclusive and do not perpetuate or magnify existing societal imbalances.

Furthermore, the G7 nations recognise the necessity of privacy protection in the context of AI. Because AI systems frequently rely on massive volumes of personal data, summit speakers emphasise the importance of stringent data privacy legislation and protections. Discussions centre around finding the correct balance between using data for AI innovation, respecting individuals’ privacy rights, and protecting data security. In addition to responsible development, the G7 meeting emphasises the importance of responsible AI use. Leaders emphasise the importance of transparent and responsible AI governance frameworks, which may include regulatory measures and standards to ensure AI technology’s ethical and legal application. The goal is to defend individuals’ rights, limit the potential exploitation of AI, and retain public trust in AI-driven solutions.

The G7 nations support collaboration among governments, businesses, academia, and civil society to foster responsible AI development and use. They stress the significance of sharing best practices, exchanging information, and developing international standards to promote ethical AI concepts and responsible practices across boundaries. The G7 nations hope to build the global AI environment in a way that prioritises human values, protects individual rights, and develops trust in AI technology by fostering responsible AI development and usage. They work together to guarantee that AI is a force for a good while reducing risks and resolving social issues related to its implementation.

Challenges on the way

During the summit, the nations, while the G7 countries are committed to combating cybercrime and developing responsible AI development, they confront several hurdles in their efforts. Some of them are:

A Rapidly Changing Cyber Threat Environment: Cybercriminals’ strategies and methods are always developing, as is the nature of cyber threats. The G7 countries must keep up with new threats and ensure their cybersecurity safeguards remain effective and adaptable.

Cross-Border Coordination: Cybercrime knows no borders, and successful cybersecurity necessitates international collaboration. On the other hand, coordinating activities among nations with various legal structures, regulatory environments, and agendas can be difficult. Harmonising rules, exchanging information, and developing confidence across states are crucial for effective collaboration.

Talent Shortage and Skills Gap: The field of cybersecurity and AI knowledge necessitates highly qualified personnel. However, skilled individuals in these fields need more supply. The G7 nations must attract and nurture people, provide training programs, and support research and innovation to narrow the skills gap.

Keeping Up with Technological Advancements: Technology changes at a rapid rate, and cyber-attacks become more complex. The G7 nations must ensure that their laws, legislation, and cybersecurity plans stay relevant and adaptive to keep up with future technologies such as AI, quantum computing, and IoT, which may both empower and challenge cybersecurity efforts.

Conclusion

To combat cyber threats effectively, support responsible AI development, and establish a robust cybersecurity ecosystem, the G7 nations must constantly analyse and adjust their strategy. By aggressively tackling these concerns, the G7 nations can improve their collective cybersecurity capabilities and defend their citizens’ and global stakeholders’ digital infrastructure and interests.