Connect with us

Business

MICROSOFT WINS US$480MIL ARMY BATTLEFIELD CONTRACT

Published

on

Microsoft Corp has won a US$480mil (RM2.01bil) contract to supply prototypes for augmented reality systems to the Army for use on combat missions and in training, the Army said.

The contract, which could eventually lead to the military purchasing over 100,000 headsets, is intended to “increase lethality by enhancing the ability to detect, decide and engage before the enemy”, according to a government description of the programme.

“Augmented reality technology will provide troops with more and better information to make decisions. This new work extends our longstanding, trusted relationship with the Department of Defence to this new area,” a Microsoft spokesman said in an emailed statement.

The US Army and the Israeli military have already used Microsoft’s HoloLens devices in training, but plans for live combat would be a significant step forward.

HoloLens is one of the leading consumer-grade headsets, but a large consumer market doesn’t yet exist; a video made for the European Patent Office this spring said it had sold about 50,000 devices. That’s about half the number the Army expects to buy through its augmented reality programme, which is called the Integrated Visual Augmentation System, or IVAS.

With the contract, the Army immediately becomes one of Microsoft’s most important HoloLens consumers. It expects devices to vary from their consumer-grade counterparts in a handful of key respects. In a document shared with companies bidding on the contract, the Army said it wanted to incorporate night vision and thermal sensing, measure vital signs like breathing and “readiness”, monitor for concussions and offer hearing protection. It said the winning bidder would be expected to deliver 2,500 headsets within two years, and exhibit the capacity for full-scale production.

The contract went though a bidding process designed to encourage the Army to do business with companies who aren’t traditional defence contractors. Magic Leap, which makes the main competitor to HoloLens for the consumer market, also pursued the contract. In early August, the Army held meetings with 25 companies interested in participating in some way, including Booz Allen Hamilton Holding Corp, Lockheed Martin Corp, and Raytheon Co. The technology industry’s cooperation with the US military and law enforcement has become increasingly tense over the last year, with employees at companies like Alphabet Inc’s Google and Amazon.com Inc pushing back against government contracts.

Earlier this year, hundreds of Microsoft workers signed a petition criticising a contract with US Immigration and Customs Enforcement that Microsoft had originally said included some of its AI software. In October, a blog post purportedly written by Microsoft employees urged the company not to bid on a multi-billion dollar US military cloud contract.

“Many Microsoft employees don’t believe that what we build should be used for waging war,” they wrote.

Later that month, Microsoft’s president and chief legal officer, Brad Smith, said the company would continue to sell software to the US military. Smith wrote that employees with ethical qualms with projects would be allowed to move to other work within the company.

“Artificial intelligence, augmented reality and other technologies are raising new and profoundly important issues, including the ability of weapons to act autonomously. As we have discussed these issues with governments, we’ve appreciated that no military in the world wants to wake up to discover that machines have started a war,” he wrote.

But we can’t expect these new developments to be addressed wisely if the people in the tech sector who know the most about technology withdraw from the conversation.” – Bloomberg

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Business

Mercedes-Benz sells 180,539 vehicles, January

Published

on

By

Mercedes-Benz delivered 180,539 vehicles to its customers worldwide in January (-6.7%).

The second-best start to a year for sales was influenced by important model changes in the high-volume SUV and compact-car segments.

In particular, the model change of the B-Class, CLA and GLE, each with a double-digit sales decrease, had a negative impact on total unit sales worldwide despite the ongoing high demand for the cars with the star insignia.

From today’s perspective, the company expects the model changes to affect deliveries in the first quarter.

With a high degree of probability, the full year will be affected also by exogenous challenges and geopolitical risks, the company announces in its global sale report for January.

A member of the Board of Management of Daimler AG responsible for Mercedes-Benz cars marketing and sales, Britta Seeger, said “With more than 180,000 vehicles delivered, Mercedes-Benz has started the year 2019 with the second-best January ever”.

“With the B-Class, the CLA and the GLE, we look forward in the coming months to the new generations of models very popular with our customers and expect the model offensive in our high-volume segments to provide significant sales impetus”.

Continue Reading

Business

AMAZON ERROR ALLOWED ALEXA USER TO EAVESDROP ON ANOTHER HOME

Published

on

A user of Amazon’s Alexa voice assistant in Germany got access to more than a thousand recordings from another user because of “a human error” by the company.

The customer had asked to listen back to recordings of his own activities made by Alexa but he was also able to access 1,700 audio files from a stranger when Amazon sent him a link, German trade publication c’t reported.

“This unfortunate case was the result of a human error and an isolated single case,” an Amazon spokesman said.

The first customer had initially got no reply when he told Amazon about the access to the other recordings, the report said. The files were then deleted from the link provided by Amazon but he had already downloaded them on to his computer, added the report from c’t, part of German tech publisher Heise.

 

Continue Reading

Business

CRYPTOCURRENCY INDUSTRY FACES INSURANCE HURDLE TO MAINSTREAM AMBITIONS

Published

on

Cryptocurrency exchanges and traders in Asia are struggling to insure themselves against the risk of hacks and theft, a factor they claim is deterring large fund managers from investing in a nascent market yet to be embraced by regulators.

Getting the buy-in from insurers would mark an important step in crypto industry efforts to show that it has solved the problem of storing digital assets safely following the reputational damage of a series of thefts, and allow it to attract investment from mainstream asset managers.

“Most institutionally minded crypto firms want to buy proper insurance, and in many cases, getting adequate insurance coverage is a regulatory or legal requirement,” said Henri Arslanian, PwC fintech and crypto leader for Asia.

“However, getting such coverage is almost impossible despite their best efforts.”

Many asset managers are interested in digital assets. A Greenwich Associates survey, published in September, said 72% of institutional investors who responded to the research firm believe crypto has a place in the future.

Last month, Mohamed El-Erian, Allianz’s chief economic adviser said that cryptocurrencies would gain wider acceptance as institutions began to invest in the space.

Most have held off investing so far however, citing regulatory uncertainty and a lack of faith in existing market infrastructure for storing and trading digital assets following a series of hacks, as well the plunge in prices.

The total market capitalisation of crypto currencies is currently estimated at approximately US$120bil (RM502bil) compared to over US$800bil (RM3.3tril) at its peak in January.

“Institutional investors who are interested in investing in crypto will have various requirements, including reliable custody and risk management arrangements,” said Hoi Tak Leung, a senior lawyer in Ashurst’s digital economy practice.

“Insufficient insurance coverage, particularly in a volatile industry such as crypto, will be a significant impediment to greater ‘institutionalisation’ of crypto investments.”

Regulatory uncertainty is another problem for large asset managers. While crypto currencies raise a number of concerns for regulators, including money laundering risks, few have set out clear frameworks for how cryptocurrencies should be traded, and by whom.

Insurance might allay some of the regulators’ concerns around cyber security. Hong Kong’s Securities and Futures Commission recently said it was exploring regulating crypto exchanges, and signalled that the vast majority of the virtual assets held by a regulated exchange would need insurance cover.

Custody challenge

Keeping crypto assets secure involves storing a 64 character alphanumeric private key. If the key is lost, the assets are effectively lost too.

Assets can be stored online, in so-called hot wallets, which are convenient to trade though vulnerable to being hacked, or in ‘cold’ offline storage solutions, safe from hacks, but often inconvenient to access frequently.

Over US$800mil worth of crypto currencies were stolen in the first half of this year according to data from Autonomous NEXT, a financial research firm.

Some institutions have started working to solve this problem, and may provide fierce competition to the incumbent players.

This year, Fidelity, and a group including Japanese investment bank Nomura have launched platforms that will offer custody services for digital assets.

Despite the industry’s complaints, insurers say that they do offer cover. Risk advisor Aon, received some two dozen inquiries this year from exchanges and crypto vaults seeking insurance, according to Thomas Cain, regional director, commercial risk solutions, at Aon’s Asian financial services and professions group.

“It is not difficult to insure companies that hold large amounts of crypto assets, but given the newness of the asset class and the publicity some of the crypto breaches have received, applicants need to make an effort to distinguish themselves,” Cain said.

The industry also says it is getting closer to solving the custody problem.

“This year there have been a number of developments, and some providers have developed custody solutions suitable for institutional clients’ needs,” said Tony Gravanis, managing director investments at blockchain investment firm Kenetic Capital.

“Players at the top end of the market have also been able to get insurance,” he said.

But this is not the case for all.

One cryptocurrency broker, declining to be named because of the subject’s sensitivity, said insurers struggled to understand the new technology and its implications, and that even those who were prepared to provide insurance would only offer limited cover. “We’ve not yet found an insurer who will offer coverage of a meaningful enough size to make it worthwhile,” he said. – Reuters

 

Continue Reading
Advertisement

Trending