Plus: Sony projects double-digit earnings for the new fiscal year despite sharp fourth-quarter losses. And the International Monetary Fund warns that AI-powered cyberattacks could cause major market disruptions. Danny Lewis hosts.
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[00:00:00] [SPEAKER_01] This podcast is brought to you by Atlassian Rovo. Take your team from AI novice to AI native.
[00:00:07] [SPEAKER_00] Here's your morning TNB Tech Minute for Friday, May 8th. I'm Danny Lewis for The Wall Street Journal. Education software platform Canvas says it has restored service after a hack disrupted thousands of colleges and high schools. The software is used by students to submit assignments, communicate with instructors, and take exams. Infrastructure Inc., the company behind Canvas, says the intruders had accessed some customer data, including names, email addresses, student ID numbers, and messages between Canvas users.
[00:00:37] [SPEAKER_00] The company says it hasn't found that passwords or financial information were involved. The investigation is ongoing, and it has notified the FBI. Sony Group is projecting double-digit earnings growth for the new fiscal year, despite its fourth-quarter net profit falling sharply due to losses from its electric vehicle joint venture with Honda Motor and weakness in other businesses, like gaming.
[00:00:59] [SPEAKER_00] The Japanese company booked an equity investment loss of about $286.1 million related to the Honda venture that recently canceled EV developments. Sony has spent billions of dollars in acquisitions in recent years to beef up its entertainment content, relinquishing control of businesses in other areas. And the International Monetary Fund is warning that AI-powered cyberattacks could cause financial shocks. While the IMF says advancements in the technology can strengthen markets' defense against cyber threats,
[00:01:28] [SPEAKER_00] extreme losses from a cyber incident could trigger funding strains, raise solvency concerns, and disrupt broader markets. That's because powerful new models, such as Anthropic's Claude Mythos, can give attackers an advantage by finding weak spots in cybersecurity systems faster than they can be fixed. And that's your TNB Tech Minute. We'll be back this afternoon with more.
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