Cisco opens innovation centre to capture moment
Cisco Systems, a global technology firm, is investing in Southeast Asia to capitalise on growth opportunity from digital transformation, blockchain and cybersecurity.
Cisco opened the first Co-Innovate Centre in Southeast Asia, the 14th in the world, to stimulate innovation via rapid prototypes to serve digital transformation needs, said Dave Ward, chief technology officer for engineering and chief architect of Cisco Systems.
A Cisco expert explained about the Rotterdam project showing function of the autonomous port. (no photo credit)
Mr Ward said Asean is a growing economic region where there is opportunity for sensor technology to serve autonomous ports in Singapore and Thailand.
The centre is showcasing the Rotterdam Port project, in which autonomous ships, cargo, vehicles, cranes and rails, weather and water condition information, and water levels are all scheduled to be fully automated by 2023.
Asean has a large manufacturing base that can use preventive maintenance for zero downtime and failure prediction. The cost incurred by unplanned downtime is US$5,000 (156,432 baht) or more per minute at factories, and $22,000 per minute or more for the auto industry.
The International Association of Automation reported unplanned downtime costs some $650 billion per year. Thailand is a large base for the auto industry, housing Japanese auto manufacturing that uses robotic technology for preventive detection.
Blockchain technology also plays important role in fintech, for which there is greater demand in Singapore and Thailand.
Cisco's Cybersecurity Center of Excellence (CCX) aims to expand threat intelligence research and security incident response capabilities in Asia-Pacific.
The CCX comprises a new Cisco Talos threat intelligence headquarters and Cisco Security Operations Center that will partner with government, industry, and universities to improve national cybersecurity posture and grow regional talents.
Cyberthreats are growing in terms of financial impact and the landscape of cyber-attacks in Thailand has changed, from IT infrastructure to operational technologies, according to the Cisco 2018 Asia Pacific Security Capabilities Benchmark Study that covers 2,000 respondents in 11 countries including Thailand.
According to Cisco, companies in Thailand nearly always address legitimate cyberthreat alerts. Companies in Asia-Pacific receive up to 10,000 threats a day, or six threats are received every minute. More than 5,000 threats a day are received by 69% of the companies surveyed.
In Southeast Asia, 51% of all cyber-attacks resulted in a loss of more than $1 million. Nearly 10% of respondents said cyber-attacks cost them more than $5 million. Some 33% of respondents in the study said a security breach can cost them anywhere between $1-5 million.
The two new centres are located at Cisco's 80,000-square-foot office in Mapletree Business City, Singapore.
According to a recent Cisco study, cybersecurity and IoT are priorities for business leaders. Some 65% of leaders in Asia-Pacific consider cybersecurity paramount to success in digital transformation.