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Paladin Capital Group Issues Report on the International State of Safety Tech in 2023

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Report Builds on Findings from Paladin’s 2022 Report on the U.S. Safety Tech Market

Report Produced in Partnership with PUBLIC, Perspective Economics, and Leading Cyberpsychologist Dr. Mary Aiken

WASHINGTON, Dec. 6, 2023 /PRNewswire/ — Paladin Capital Group, a leading multi-stage investor in advanced cyber and AI technologies, today released its second report on the state of the Safety Tech industry, building on its 2022 report which found evidence of an emerging billion-dollar US market. This updated report analyzed the market with an assessment across multiple countries, governments, and sectors. The report—completed by Paladin Capital Group, PUBLIC’s Online Safety team, with the support of Perspective Economics and leading cyberpsychologist and Paladin’s Chief Scientist Safety Tech, Dr. Mary Aiken—found that the international Safety Tech market is experiencing rapid year-to-year growth. In the past three years alone, Safety Tech firms have raised $4.8 billion. That is nearly triple the amount raised between 2011 – 2020.

“Safety Tech” refers to the class of technologies or solutions designed to facilitate safer online experiences and protect users from harmful content, contact or conduct. Whereas cybersecurity relates to protecting data, systems and networks, Safety Tech protects the people who use technology. Solutions in this space focus on reducing risk and harm to users in the everyday online environments by protecting people from mis/disinformation, online harassment, hate, discrimination, and online terrorist content, which increasingly threatens democracy and civil society.

“In today’s online society, users are faced with growing cyberattacks that not only threaten cyberspace, but also their well-being,” said Chris Steed, Paladin Chief Investment Officer and Managing Director. “Paladin was founded with the commitment to recognize and address the vulnerabilities facing our critical infrastructure. Over two decades later, that commitment hasn’t changed. Now, we need to help the humans who operate in cyberspace to become resilient and secure.”

This inaugural International State of Safety Tech report establishes a baseline that will be updated on an annual basis going forward, updating the data on the international landscape, increasing awareness of the maturity and impact of Safety Tech offerings, and driving growth in the Safety Tech sector internationally. Through a combination of desk research, expert interviews, and quantitative market analysis, the researchers found:

  • The number of dedicated Safety Tech providers has almost tripled in the last decade globally to a total of 537 private sector firms or organizations. Across 37 countries, nearly 17,000 people are employed in the Safety Tech industry. 
  • The United States and the United Kingdom together are leading the industry, collectively home to about three-quarters of Safety Tech companies.
  • In the U.S., more Safety Tech firms are being acquired and embedded into larger tech companies, a trend expected to rise and continue in the coming years.
  • In 2024, we expect to see greater attention on solutions to improve election integrity and tackle mis/disinformation, driven by global conflict and upcoming high-profile elections in countries that account for over 50% of global GDP.
  • Rapidly developing generative AI technologies and landmark online safety legislation in the EU and UK present unique threats and opportunities to the industry. The recent passing of the Online Safety Act in the UK positions it as a global leader and policymaker in Safety Tech.

“The widespread impact of online harm is now well recognized, presenting users with psychological risks, criminal dangers, and extremism,” said Dr. Mary Aiken, Paladin Chief Scientist Safety Tech and Member of Strategic Advisory Group. “Governments and companies must continue to take greater responsibility for protecting our collective cyber future and those who are vulnerable online. Those of us in the Safety Tech industry must continue to promote research, partnerships, policies, and solutions to create the future we want today and tomorrow—both online and in the real world. This report is a culmination of years of research and hard work.”

“With new online safety regulation coming into force in the UK and EU and Generative AI tools emerging at a rapid pace, we are at an exciting watershed moment for the Safety Tech sector,” said Alex de Carvalho, CEO & Co-Founder at PUBLIC. “What’s more, as nearly half of the world’s population heads to the polls in 2024 there is a huge opportunity and great urgency for governments, regulators, investors, and industry to further catalyze the online Safety Tech sector to protect citizens online.”

At a time of heightened concern around online safety, the report guides policymakers on how to navigate previously unfamiliar situations to protect Americans online. “We are familiar with national security challenges concerning the protection of critical infrastructure; however, the cyber threat landscape is changing, and now we face the challenge of securing ‘human infrastructure,'” said Congressman James Langevin, Member of Paladin Strategic Advisory Group. “The global policy and regulatory environment is increasingly concerned with protecting users from online harm. While there has been reluctance in some corners among policymakers to regulate in the online safety arena, it’s clear the tide is shifting.”

 The report is forward-facing, looking to guide both policymakers and tech companies as they work to develop Artificial Intelligence technology safely. “There is an essential and urgent need to develop frameworks, based on rapidly evolving private sector best practices, to instill trust, safety, and security into the core of AI development and deployment process in the international Safety Tech sector,” said Chris Inglis, Paladin Senior Strategic Advisor and former U.S. National Cyber Director.

Based on the findings of the research, the report provides a set of tailored recommendations for governments, regulators, international bodies, investors, leading tech companies, and Safety Tech providers in order to drive the next wave of growth in the sector internationally. In this of what will be a yearly report, Paladin, Dr. Aiken, and PUBLIC have put together a roadmap for experts to reference in coming years.

The full report is available here.

About Paladin Capital Group

Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, London, Luxembourg, and Silicon Valley. As a multi-stage investor, Paladin’s core strength is identifying, supporting and investing in innovative companies that develop promising, early-stage technologies to address the critical cyber and advanced technological needs of both commercial and government customers. Combining proven investment experience with deep expertise in global security, cyber technology and cutting-edge research, Paladin has invested in more than 70 companies since 2008 and has been a trusted partner to investors, entrepreneurs and governments for over two decades.

For more on Paladin Capital Group, follow us on Twitter at @Paladincap and on LinkedIn at https://www.linkedin.com/company/paladin-capital-group or visit us at www.paladincapgroup.com.

About PUBLIC

PUBLIC is a digital transformation partner committed to helping the public sector turn innovative ideas into practical solutions Combining expertise around government policy, delivery, and technology, PUBLIC aims to build a public sector that is powered by new technologies and innovative ways of working, achieving better outcomes for citizens. As one of Europe’s leading advisory firms with a specialism in online safety, PUBLIC works closely with clients across central government, regulator bodies and industry to build safer online spaces, protect users and grow a responsible digital economy.

For more on PUBLIC, follow us on Twitter at @PUBLIC_Team and on LinkedIn at https://www.linkedin.com/company/public.io/ or visit us at https://www.public.io/.

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Validation Cloud Secures $5.8 Million in Inaugural Funding to Propel Web3 Infrastructure

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ZUG, Switzerland, Feb. 28, 2024 /PRNewswire/ — In a significant stride towards revolutionizing Web3 infrastructure, Validation Cloud has proudly announced the successful closure of its first external investment round, amassing $5.8 million. Spearheaded by San Francisco-based Cadenza Ventures, this funding round exceeded expectations with contributions from an impressive roster of international investors, including Blockchain Founders Fund, Bloccelerate, Blockwall, Side Door Ventures, Metamatic, GS Futures, and AP Capital.

Alex Nwaka, Co-Founder of Validation Cloud, expressed enthusiasm about the funding, “This investment marks a pivotal moment for Validation Cloud as we aim to address the urgent demand for scalable and compliant Web3 infrastructure. We’re honored to collaborate with our investors who are instrumental in propelling the global adoption of our platform among cutting-edge networks, developers, and asset managers.”

Validation Cloud is at the forefront of Web3 technology, having developed an innovative system architecture that paves the way for significant advancements in the sector. Known as the “Cloudflare of Web3,” the company offers a robust, scalable, and intelligent platform providing Staking, Node API, and Data services, drawing inspiration from Cloudflare’s transformative impact on Web2 infrastructure.

Founded by veterans in the Proof-of-Stake domain, Validation Cloud boasts a team of highly experienced professionals from renowned organizations such as Uber, Workday, Deloitte, Citadel, Morgan Stanley, Binance, Crypto.com, Figure, R3, and more, emphasizing a talent-first approach with a worldwide workforce.

Kumar Dandapani, Managing Partner at Cadenza Ventures, highlighted the strategic vision behind their investment, “At Cadenza, we do not invest in just any company; we invest in the future of transformative technologies. Validation Cloud’s pioneering role in Proof-of-Stake and their relentless pursuit of next-generation Web3 infrastructure have set them apart as leaders in the Web3 space.”

Aly Madhavji, Managing Partner at Blockchain Founders Fund, shared his thoughts on the investment, “We believe in the transformative power of Web3 and its ability to redefine how businesses operate. Investing in Validation Cloud aligns perfectly with our vision of supporting innovative platforms that are ready to lead the next wave of digital transformation.”

Validation Cloud has earned a reputation for its close partnerships with networks from their nascent stages, supporting a wide array of ecosystems from established ones like Chainlink, Hedera, and Stellar to emerging networks such as Aptos, Eigenlayer, and Berachain. Their platform lays the groundwork for the enterprise adoption of networks, positioning Validation Cloud as a key player in the Web3 infrastructure landscape.

For further details on Validation Cloud and its offerings, please visit www.validationcloud.io.

Please contact: Kelly Clark, Director of Communications | [email protected] 

Funding Announcement for Validation Cloud by Alex Nwaka

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Klarna says its AI assistant does the work of 700 people after it laid off 700 people

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The Swedish fintech, which was criticized for its handling of a dramatic staff reduction in 2022, is touting new efficiencies powered by OpenAI.

Klarna is bullish on bots.

One month after taking its OpenAI-powered virtual assistant global, the Swedish buy-now, pay-later company has released new data touting its ability to handle customer communications, make shoppers happier, and even drive better financial results.

The app-based AI chatbot already handles two-thirds of all customer service chats, the company said Tuesday—some 2.3 million conversations so far—with the virtual assistant earning customer satisfaction ratings at the same level as human agents. Klarna, which is expected to go public this year and will need all the hype it can get at a time when investors have been generally frosty toward IPOs, estimates that the chatbot could help improve its profits by $40 million in 2024.

Announcing a partnership with OpenAI early last year, Klarna said it was one of the first companies to integrate the firm’s groundbreaking ChatGPT technology into a plug-in for shopping. The natural-language interface initially helped customers choose items and make other shopping-related decisions based on personalized queries, a feature Klarna described as “smooth shopping.”

The company has continued to build out its AI offerings since then. Its app-based assistants are now available to customers worldwide and handle a variety of tasks including refunds, cancellations, and even disputes.

Klarna boasted in its announcement on Tuesday that the AI assistant “is doing the equivalent work of 700 full-time agents.”

That statement may raise eyebrows for anyone who remembers the middle of 2022, when the company laid off roughly the same number of employees, then about 10% of its staff. At the time, CEO Sebastian Siemiatkowski cited economic uncertainty, inflation, and the likelihood of a recession as reasons for the cuts. He was criticized for his handling of the staff reduction after he shared a public spreadsheet on LinkedIn that contained the names of many of the laid-off workers.

Fast Company asked Klarna how the company arrived at its calculation for its AI assistant’s human-equivalent productivity. The company said the number of equivalent jobs the AI could perform wasn’t related to the layoffs. In a statement, a spokesperson said the company’s customer service is supported by four to five large third-parties that collectively have over 650,000 employees, and that it offers customers the option to speak with human agents if that’s what they prefer.

“This is in no way connected to the workforce reductions in May 2022, and making that conclusion would be incorrect,” the statement read. “We chose to share the figure of 700 to indicate the more long-term consequences of AI technology, where we believe it is important to be transparent in order to create an understanding in society. We think [it’s] important to proactively address these issues and encourage a thoughtful discussion around how society can meet and navigate this transformation.”

Companies have used chatbots for years to handle low-level customer queries and other interactions, although these tools are expected to become more versatile in the wake of advancements in artificial intellegence.

Source: Fast Company

The post Klarna says its AI assistant does the work of 700 people after it laid off 700 people appeared first on HIPTHER Alerts.

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KAPSARC Launches Saudi Arabia’s First School of Public Policy

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  • Inspired by His Royal Highness, the Minister of Energy, Prince Abdulaziz bin Salman Al Saud’s passion for education, human capital development and innovation, the KAPSARC School of Public Policy (KSPP) was founded as the first institution in Saudi Arabia dedicated to graduate studies and executive education in public policy.
  • Through its academic offerings, KSPP empowers individuals to tackle pressing public policy challenges and embrace the promising opportunities shaping the future.
  • KSPP’s facilities will run on 100% renewable energy, setting a precedent as one of the first net-zero facilities in the Saudi educational sector.

RIYADH, Saudi Arabia, Feb. 28, 2024 /PRNewswire/ — The King Abdullah Petroleum Studies and Research Center (KAPSARC) has been granted an establishment license for its School of Public Policy (KSPP) after the recent approval by the Council of Ministers, and which was announced during the Human Capability Initiative (HCI) on February 28, 2024, conducted under the patronage of Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister, and the Chairman of the Human Capability Development Program Committee, one of Saudi Arabia’s Vision 2030 Realization Programs.

Aiming to set new standards in policy studies, the school offers a two-year master’s degree and executive education programs designed to enable and empower future policy leaders and professionals within Saudi Arabia and globally to address the most pressing domestic and international public policy challenges in the public, non-profit and private sectors.

This significant achievement was announced by His Royal Highness, Prince Abdulaziz bin Salman Al Saud, the Minister of Energy, Chairman of the Board of Trustees of KAPSARC: “The vision for KAPSARC School of Public Policy is to develop the knowledge and skills that the new generation needs to shape public policy both locally and globally. Our mission is to empower and equip future policy leaders and professionals within Saudi Arabia and internationally to make informed socio-economic decisions.”

In a statement on the sidelines of the school’s launch, Fahad Alajlan, President of KAPSARC, stressed the Center’s mission to impact public policy on national, regional, and global levels. “Our new School of Public Policy will equip future leaders with the right skills to create data-driven and evidence-based public policy in line with Vision 2030 goals.”

Dr. Ghadah Alarifi, Founding Dean of KSPP, stated that, “Public policy serves as the foundation of societal progress. At KSPP, we aim to be a catalyst for collaboration, building a robust ecosystem that bridges academia, industry, and government in the public policy arena.”

By leveraging KAPSARC’s network, KSPP provides a platform for global engagement and career growth opportunities, offering practical application and flexible courses tailored to empower policymakers in different tracks including energy policy.

The school is committed to achieving high sustainability standards in the Saudi educational sector, including the goal of running on 100% renewable energy. This dedication ensures that KSPP meets its annual energy needs through on-site renewable resources, eliminating the use of fossil fuels.

For more information about KSPP, visit https://www.kapsarc.org/about-the-school/.

Follow KSPP on social media:

  • X: @KAPSARC_SPP
  • LinkedIn: @ KAPSARC School of Public Policy

About KAPSARC:

KAPSARC is a leading think tank dedicated to advancing knowledge on energy, environment, and regional economic issues. Accredited observer of UNFCCC, KAPSARC actively contributes to global climate action. The mission of KAPSARC is to advance Saudi Arabia’s energy sector and inform global policies through evidence-based advice and applied research. For more information about the center please visit: https://www.kapsarc.org/

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