Cisco acquiring software companies splunk For $28 billion.
of acquisition It is designed to help clients enhance their security and observability efforts through artificial intelligence (AI), according to a Thursday (September 21) press release.
“From threat detection and response to threat prediction and prevention, we help organizations of all sizes become more secure and resilient,” Cisco CEO chuck robbins said in a release.
Cisco and Spunk offer “complementary capabilities in AI, security, and observability,” according to the release, to help businesses improve safety and digital resiliency. “Specifically, Splunk’s security capabilities complement Cisco’s existing portfolio, and together they provide cutting-edge security analytics and coverage from devices to applications to the cloud.”
According to the release, the combined organization will provide observability for hybrid and multicloud environments, allowing customers to deliver “frictionless application experiences that power their digital business.”
“Given their large scale, data visibility, and foundation of trust, Cisco and Splunk are well-positioned to help customers responsibly harness the power of AI,” the release states. I am.
The acquisition comes as several companies are already leveraging AI to protect themselves.
For example, financial institutions that use AI and machine learning (ML) experience lower rates of fraudulent transactions and increased overall fraud rates compared to institutions that do not use these technologies. Unlikely, PYMNTS Intelligence found.
“In terms of benefits, AI and ML technologies are playing a key role in identifying and assessing the types of fraud that financial institutions commonly encounter, not to mention the ability to get a standardized picture of fraud. ” states the report.
Major payment companies such as master Card is supporting banks in this effort. In July, the company partnered with nine UK banks to leverage large-scale payment data to identify real-time payment fraud and use AI to combat fraud before money is withdrawn from victims’ accounts. It was announced that.
“Organized criminals move ‘fraudulent’ funds through a series of ‘mule’ accounts to disguise them,” the company said at the time. “To combat this, Mastercard has been working with UK banks for the past five years to track the flow of funds through these accounts and then close them.”
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