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AIMLExchange.com Griffiss Cyberspace™: Pioneering Cyber Finance™ |
AIMLExchange.com Griffiss Drones Network™: Pioneering Drones Safety & Reliability Risk Engineering™ |
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Latest Papers & Presentations: Drones Safety & Reliability Risk Engineering 2018 Armed Forces Communications and Electronics Association (AFCEA) C4I and Cyber Conference
2018 Journal of Operational Risk
2018 Invited AI-ML Cybersecurity Intelligence, Surveillance, & Reconnaissance (ISR) Presentation
2016 Princeton Quant Trading Conference, Princeton University
2015 Princeton Quant Trading Conference, Princeton University
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Spanning Wall Street and National Cyber Defense: Future of Cyber Risk Spans Wall Street Hedge Funds & DoD-AFRL. |
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State of New York Global Cyberhub for Global Cybersecurity Risk Management deploying advanced digital technologies of AI & Machine Learning; Cybersecurity & Cryptography; and, Block Chain & Cloud Computing. "Almost all risks characterizing today's information-based financial products and services, financial markets, financial exchanges, financial currencies, and financial economies are however first and foremost Information risks and Cyber risks. Such Information risks and Cyber risks may not only escalate traditional risks but may also subsume traditional financial risks as brick-and-mortar institutions such as NYSE 'trading floors' become 'museums of financial history'." World Leading Cyber-AI-Machine Learning Engineering R&D: Since the inception of the WWW, we have led world-leading Digital Transformation and Cyber Risk Strategies and Practices followed and recommended in their strategies and polices by worldwide leadership institutions such as the Harvard MBA, IT visionaries such as Microsoft founder Bill Gates, and, Big-4 CxOs, and CxOs of the US Army, US Navy, and US Air Force. Having led global ventures, programs, projects, and, teams leading global development and deployment of Global Financial Systems for Bi3-3 IT and Big-3 Banking and Finance firms, we founded world's Top Digital Site (as ranked by Computerworld), world's Top-3 Search Engine (as ranked in Carnegie Mellon Industry.Net Awards), and, world's Top-10 Social Network (ranked among others such as LinkedIn in global industry surveys). As pioneers of Digital Transformation, we were invited to lead the Silicon Valley CEOs and Venture Capitalists for shaping the future vision of the development of global digital WWW enterprises on the "Wild Wild Web." We have also shaped global and national level Digital Transformation policies as invited global experts for global organizations such as the United Nations as well as the United States Federal government and other major world governments and most advanced digital nations of the world across North America, Europe, and, Asia. Having advanced the global Risk Management Strategies and Technologies for the top Wall Street investment banks and hedge funds with $1 Trillion AUM, we advanced upon our long-standing leadership across both Global Finance and Global Defense, to launch Griffiss Cyberspace™ based in the Griffiss Air Force Base, Griffiss Technology Park, Rome, New York. The Griffiss Cyberspace™ marks the Future of the World wherein all key Risks being Cyber Risks shall be material to the future digital survival of global national economies and global financial systems and institutions including global financial markets and exchanges, as well as the future physical survival of the world's nations and states increasingly dependent upon and driven by hyper-velocity and hyper-connectivity of Global Information Infrastructures and National Information Infrastructures development of which we have also led in pioneering global practices leadership roles.
Latest Research: AI & Machine Learning for Risk & Uncertainty Management World's Top-Ranked AI-Algorithms-Machine Learning Cybersecurity Applied R&D Practices Program 1993-2018: R&D: World's Top-Ranked Digital Transformation R&D Leading Global Digital Practices 2015-2018: R&D: AI-Algorithms-Machine Learning: 99 Top-10 SSRN Rankings, Top-2% SSRN Authors 2018 Armed Forces Communications and Electronics Association (AFCEA) C4I and Cyber Conference
2018 MIT AI-Machine Learning Executive Guide including NLP, RPA, & Cognitive Automation 2018 Journal of Operational Risk 2018 Invited AI-ML Cybersecurity Intelligence, Surveillance, & Reconnaissance (ISR) Presentation 2017 National Association of Insurance Commissioners (NAIC) Expert Paper 2016 Princeton Quant Trading Conference, Princeton University 2016 New York State Cyber Security Conference Presentation, Sponsor: State of New York Governor 2015 US National Chief Security Officers & Chief Risk Officers Plenary Keynote 2015 Princeton Quant Trading Conference, Princeton University 2015 New York State Cyber Security & Engineering Technology Association Conference 2015 New York State Cyber Security & Engineering Technology Association Conference
2015 Post-Doctoral R&D Thesis: Pioneering the Future of Network & Computer Security: 2013 First Bitcoin Technical Report on 'Cryptographic Proof of Work' preceding Goldman Sachs 2014 Bitcoin Interview: Hong Kong Institute of Certified Public Accountants 2015 Advancing Cognitive Analytics Using Quantum Computing for Next Generation Encryption 2015 Number Field Sieve Cryptanalysis Algorithms for Most Efficient Prime Factorization on Composites 2015 Markov Chain Monte Carlo Models, Gibbs Sampling, & Metropolis Algorithm for High-Dimensionality Complex Stochastic Problems 2016 Center for Teaching Innovation and Excellence: CCC Teaching Innovation & Excellence Retreat |
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"Unlike other risks, Cyber Risk poses a uniquely different set of exposures as it is intertwined with the medium and the message in the increasingly digital world of networked communications... " - Dr. Yogesh Malhotra, January 19, 2015, in the Risk Futures Report of theFutureOfFinance.org venture: |
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To guide the global practices of Cyber Risk and Cyber Risk Assessment, Dr. Yogesh Malhotra's post-doctoral research guided by the advisory committee of Distinguished Computer Scientists, Mathematicians, &, Physicists affiliated with AFRL and NYS-CRI defines the risk as well as the means for measuring progress by combining ways and means to achieve defined ends. |
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CISOs must first define the risk, cybersecurity analyst tells Congress "To combat continued and growing threats, cybersecurity officials should utilize a two-step process, said a network security firm executive speaking before Congress." "Step one is to define the risk, and step two is to measure progress by combining ways and means to achieve defined ends," Richard Bejtlich, chief security strategist at FireEye, told the House Energy and Commerce subcommittee on oversight and investigations March 3. "This is exactly the role of strategic thinking, meaning the application of strategies, campaigns, tactics and tools to achieve organizational goals."
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"[The] scale and breadth of the attacks — and the lack of clarity about the hackers’ identity or motive — show not only the vulnerability of the most heavily fortified American financial institutions but also the difficulty, despite billions of dollars spent in detection technology, in finding the sources of attack... The data breach at JPMorgan Chase was among “the most troubling breaches ever,” [Illinois Attorney General] said, adding that it proved “there is probably no database that cybercriminals cannot compromise.”" "In our existing environment and at our company, cybersecurity attacks are becoming increasingly complex and more dangerous," Dimon said. "The threats are coming in not just from computer hackers ... but also from highly coordinated external attacks both directly and via third-party systems." How to Do It: "This is going to be a big deal and there will be a lot of battles... We need a lot of help." |
 
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Benjamin Lawsky, superintendent of the New York Department of Financial Services, said that cyberterrorism is the most significant issue that DFS will work on in the next year, saying the possibility of an “armageddon-like” cyberattack is one of his primary concerns as a financial regulator. “I worry that we’re going to have some sort of major cyber-event in the financial system that’s going to cause us all to shudder,” Lawsky said... "We like to say that to some extent the failures to detect the 9/11 plot were a failure of imagination and communication," he said. "I'm worried about the same thing here—that an event will happen and we'll look back and say, 'How did we not do more?' -- NY regulator warns against looming cyber 9/11, CNBC, Sep 22 , 2014 12:47 p.m. ET. |
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"Treasury Secretary Jacob Lew is calling for financial firms to do more to combat cybersecurity threats..."Far too many hedge funds, asset managers, insurance providers, exchanges, financial market utilities, and banks should and could be doing more,"... attacks on the US financial sector can come from a myriad of sources, including state sponsored groups, cyber criminals, politically motivated hackers and others. No matter the source... a successful attack on the US financial system "would compromise market confidence, jeopardize the integrity of data, and pose a threat to financial stability." |
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"Based on available evidence, it is not improbable that the current officially "recommended" most widely used global standard of encryption (RSA-1024) may have already been compromised."
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'Changes to our SSL Certificates', Thursday, May 23, 2013 8:00 AM, Posted by Google Stephen McHenry, Director of Information Security Engineering: "This encryption needs to be updated at times to make it even stronger, so this year our SSL services will undergo a series of certificate upgrades—specifically, all of our SSL certificates will be upgraded [from RSA-1024] to 2048-bit keys by the end of 2013. We will begin switching to the new 2048-bit certificates on August 1st..." Computational & Quantitative Finance Risk Management Impact... |
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"Operational risks stemming from breakdowns attributed to people, process and technology have become increasingly apparent in banking over the years. " - U.S. Banks’ Model Risk Worse than Ever, Thanks to Basel III, American Banker, July 11, 2013. Advancing Beyond VaR Model Risks Exposed by the Financial Crisis... |
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- U.S. Official Warns on Threat to Banks From Cyberattacks: Comptroller of Currency Says Systemic Threats are Growing, Wall Street Journal, September 18, 2013. Cybersecurity Risk as Key Contributor to Banks' Financial Risk... |
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Black Swans and Federal Reserve/OCC Model Risk Guidance SR11-7... |
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- Cyber security conference held On Griffiss, Rome Observer, Monday, November 18, 2013. Griffiss Cyberspace Venture Spans Wall Street & Hi-Tech Quant Research... |
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"There are many definitions of knowledge management. It has been described as "a systematic process for capturing and communicating knowledge people can use." Others have said it is "understanding what your knowledge assets are and how to profit from them." Or the flip side of that: "to obsolete what you know before others obsolete it." (Malhotra) " CxO Leadership Pioneering Global Cyber Risk Management Practices... |
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"We are observing diminishing credibility of information technologists. A key reason for this is an urgent need to understand how technologies, people and processes together combine to influence enterprise performance. - Yogesh Malhotra, Journal of Knowledge Management" CxO Leadership Pioneering Finance-IT-Risk Management Practices... |
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"KM is obsoleting what you know before others obsolete it and profit by creating the challenges and opportunities others haven't even thought about -- Dr. Yogesh Malhotra in Inc. Technology " Global Cyber Defense, Finance & IT Risk Management CxO Guidance... |
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Griffiss Cyberspace (AIMLExchange.com) Cybersecurity Venture Aims to Span Wall Street and Hi-Tech Research: Griffiss Cyberspace, our latest Cyber Risk Management venture in the Griffiss Air Force Base area of Rome, New York, advances our global CxO leadership renowned for pioneering U.S. and worldwide risk practices in IT and Cyber Risk Management. It aims to connect the dots between Wall Street quantitative finance and quantitative risk modeling research and practices and latest generation computational and mathematical research and practices in cybersecurity and cyber risk management of critical national information infrastructures (NII). Its socioeconomic objective is to contribute to the regional economic development of Central New York and advancement of cybersecurity and cyber risk management practices related to global banking and financial systems and other critical NII. Our prior research followed by the nation's top signals intelligence (SIGINT) expert agencies NSA and CIA, such as the computer science journal Expert Systems with Applications top-ranked paper on Cyber risk management human and machine learning expert systems & AI (2001), advanced upon Shannon's Information Theory. Inspired by our communication with the Genetic Algorithms pioneer Dr. John Holland (1995) at the Santa Fe Institute at the time, it anticipated and addressed many questions raised about quantitative computational models in the aftermath of the 2008-2009 Global Financial Crisis more than a decade ahead of time. Our recent Cryptanalysis research focus on Number Field Sieve Cryptanalysis Algorithms for Prime Factorization on Composites proposed next generation robust encryption standards by advancing Non-Deterministic reformulations of both Kerckhoffs's principle and Shannon's maxim underlying modern encryption standards and technologies. Our two-decade-long Cyber Risk Management applied research and global practice ventures also produced and published one of the most influential seminal research papers on the US National Information Infrastructure (NII) in 1995 used as a most recommended resource by worldwide and UN Economists, Statisticians, and Policymakers and top programs such as the University of California Berkeley. US Office of the Comptroller of the Currency recently underscored Cybersecurity as ‘Fastest-Growing Risk to Banks’ that must be accounted for like other Financial Risks such as Credit Risk or Market Risk (see, for example: "OCC Sees Cybersecurity as Fastest-Growing Risk to Banks", American Banker, June 18, 2013). The growing sophistication of cyberattacks could pose a systemic risk to the financial system, Comptroller of the Currency Thomas Curry noted in his subsequent speech, observing that the "financial-services industry is one of the more attractive targets for cyberattacks, and, unfortunately, the threat is growing." (see, for example 'U.S. Official Warns on Threat to Banks From Cyberattacks: Comptroller of Currency Says Systemic Threats are Growing', Wall Street Journal, September 18, 2013.) Reflecting on OCC's remark that the specific cyberattack and cybersecurity related risks represent 'operational risks', it seems important to update our perspectives characterizing financial risks in traditional terms such as Credit Risks, Market Risks, Operational Risks, etc. Such definitions might have reflected the true nature of financial risks in the past. Almost all risks characterizing today's information-based financial products and services, financial markets, financial exchanges, financial currencies, and financial economies are however first and foremost Information risks and Cyber risks. Such Information risks and Cyber risks may not only escalate traditional risks but may also subsume traditional financial risks as brick-and-mortar institutions such as NYSE 'trading floors' become 'museums of financial history'. |
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