Tech
80% of ransomware victims pay ransom, says report
Hiscox report reveals 80% of ransomware victims pay ransom, but only 60% recover data successfully
Hiscox report reveals 80% of ransomware victims pay ransom, but only 60% recover data successfully
– Cyber attacks increasingly target businesses, with 80% of ransomware victims opting to pay ransoms.
– SMEs are often affected, with only 60% recovering data after paying ransoms amidst rising cyber insurance costs.
The latter recently received a £1.5bn government loan guarantee aimed at protecting its supply chain, which includes numerous small firms.
Many victims of cyber attacks are small and medium-sized enterprises (SMEs), which often require assistance to recover. Hiscox reported that while 27% of the surveyed 5,750 SMEs faced ransomware attacks, only 60% that paid the ransom managed to recover their data.
Impact on Firms
The broader findings revealed that nearly 60% experienced some form of cyber attack, with numerous businesses attributing their vulnerabilities to artificial intelligence.
Companies face not only financial repercussions, including fines and lost revenue, but also damage to their reputations. Eddie Lamb of Hiscox warned against underestimating the severe consequences of cyber attacks on all business sizes.
Jaguar Land Rover was reportedly finalising cyber insurance when it was attacked, incurring significant losses. Industry experts note that the rising costs of comprehensive cyber insurance policies may leave many firms unprotected. The cyber insurance market is growing, responding to the high-profile impacts experienced by businesses like M&S, which anticipates recovering losses through insurance after its own ransomware incident.
Tech
OpenAI releases GPT-5.1 with enhanced conversational features
OpenAI launches GPT-5.1, enhancing ChatGPT with personality controls and improved conversational abilities for paid users
OpenAI launches GPT-5.1, enhancing ChatGPT with personality controls and improved conversational abilities for paid users
– OpenAI launched GPT-5.1 with two models to improve ChatGPT’s conversation and user control.
– The update, initially for paid users, addresses prior complaints and introduces adaptive reasoning and personality presets.
GPT-5.1 Instant is said to be “warmer by default and more conversational,” with early testers noting its playfulness while remaining clear and useful.
The launch follows a backlash from users after GPT-5’s release, who criticized its “colder” tone and the removal of previous models like GPT-4o. OpenAI’s CEO, Sam Altman, admitted that discontinuing GPT-4o “was a mistake” and acknowledged the emotional attachment users had to specific models.
Adaptive Reasoning
GPT-5.1 Instant introduces adaptive reasoning, which helps it determine when to “think before responding” to complex questions.
This leads to marked improvements in mathematical and coding tasks. GPT-5.1 Thinking adjusts processing time based on the task, resulting in clearer explanations and improved ease of use for various tasks.
The new version includes six personality presets, allowing users to tailor interactions. OpenAI aims for the model to integrate cognitive and emotional intelligence effectively.
For now, the rollout is for paid users, with free access occurring soon. Both models will be available via API, and legacy models will remain accessible for three months.
Tech
Apple postpones iPhone Air sequel due to poor sales
Apple delays iPhone Air 2 indefinitely after lacklustre sales of first model
Apple delays iPhone Air 2 indefinitely after lacklustre sales of first model
– Apple has postponed the iPhone Air’s launch due to poor sales of the current model.
– Production of the iPhone Air will stop, with Foxconn and Luxshare ceasing manufacturing by November and October respectively.
The decision coincides with a significant reduction in the production of the existing model. Foxconn is expected to cease all manufacturing by the end of November, while Luxshare will stop production by the end of October.
Sales for the iPhone Air have not met Apple’s expectations since its launch in September. Foxconn has limited its production lines for the device, and future orders are projected to decrease significantly. A survey indicated nearly no demand for the iPhone Air, with consumers instead choosing the iPhone 17 and iPhone 17 Pro models.
Production Challenges
The underperformance of the iPhone Air continues a trend of failed attempts by Apple to add a fourth model to its lineup.
The iPhone mini was previously discontinued after poor sales, followed by the larger Plus models, which faced similar challenges.
Apple had intended to develop a lighter second-generation iPhone Air with improved specifications but may now reconsider its design approach. The company also has plans for a staggered launch of the iPhone 18 lineup set for 2026 and early 2027.
Tech
Tech giants’ $47 billion AI infrastructure deals announced
Tech giants commit $47.7 billion to AI deals as demand for computing power soars and market diverges
Tech giants commit $47.7 billion to AI deals as demand for computing power soars and market diverges
– Wall Street started November mixed as AI deals boosted tech stocks, especially Amazon’s share price after a major agreement.
– OpenAI plans $1.4 trillion investment for computing resources, with Big Tech predicting over $250 billion AI infrastructure spending this year.
Amazon commented on the soaring demand for computing power resulting from rapid AI advancements, aiming for full capacity deployment by the end of 2026.
Microsoft also sealed a $9.7 billion agreement with IREN, highlighting the industry’s insatiable need for cloud capacity.
The collaborations depict Big Tech’s ongoing commitment to AI infrastructure, with significant investments aimed at catering to the escalating demand for computing resources.
Investment Perspective
OpenAI CEO Sam Altman revealed intentions to invest $1.4 trillion to create 30 gigawatts of computing resources.
Major players, including Microsoft, Alphabet, Amazon, and Meta, have adjusted their capital expenditure forecasts for 2025, anticipating AI infrastructure spending to surpass $250 billion this year.
Despite market caution regarding inflated valuations, analysts remain optimistic about growth in the sector. Even amidst fears of an AI bubble, industry leaders assert ongoing investments will continue to bolster market performance through 2026.
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