WISeKey’s Cybersecurity AI technology creates a platform that helps connected devices to become intelligent devices, organize themselves into trusted networks to learn from attacks, defend themselves, and transfer this intelligence to other devices within the network
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Geneva, Zug, Switzerland – November 23, 2020 – WISeKey International Holding Ltd (SIX: WIHN) (WISeKey), a leading Swiss cybersecurity and IoT company announced today that it has fully integrated the Industrial Internet of Things (IIoT) chip embedded with cryptographic Root of Trust (RoT) and problem-solving Artificial Intelligence (AI) solutions as part of its Vertical IoT Platform. WISeKey’s IoT cybersecurity Vertical Platform allows IoT devices to organize themselves into trusted networks based on mutual authentication, identity and integrity.
The integration of arago technology is accelerating this process as arago has a large recurring customer base and licensing model which is expected to bring significant synergies to WISeKey and strengthen WISeKey’s position in the fast-growing Artificial Intelligence of Things (“AIoT”) market. The ability to authenticate and remotely manage millions of networked, automated devices and equipment is becoming pervasive: from the factory floor, to the hospital operating room, to the residential home, everything from refrigerators, watches and wearables, to wine bottles, is connecting and communicating via the Internet.
WISeKey owns everything necessary to authenticate users and devices. With arago, the authentication is extended to data and action. The arago platform has an oAuth-based identity that is used to control access to any data point or AI activity which can easily be integrated with the WISeKey services.
The increasing adoption of AI and IoT convergence is one of the primary factors that is driving the growth of the market. Over the past five years, a rapid surge in the adoption of AI IoT cloud services has been witnessed. It is driven by its capabilities to provide enterprise wide array of resources they can utilize to scale, orchestrate, and support their operations. Adding secure AI cloud services from Switzerland in cooperation with arago, using Swiss data centers and Swiss alps mountain bunkers to store the personal data generated by users and enterprises. WISeKey, is the first e-security company in the world to offer decentralized Trust Models and PKI architecture. In addition, WISeKey allows data ecosystems to be federated via a unique digital identity, enabling users to interact while maintaining control of their personal data. Users have the have the freedom to choose where their data resides and who is allowed to access it. By decoupling content from the application and digital identity itself, users will be able to use their data as currency and develop digital data dividends-based solutions as consumers have a right to know and control how their data is being used and be able to monetize their data.
The WISeKey IoT cybersecurity Vertical platform is producing an unprecedented amount of Big Data as WISeKey has an install base of over 1 billion IoT secure microchips since 2010 in virtually all IoT sectors (autonomous cars, smart cities, drones, anti-counterfeiting, smart lights, servers, mobile phones, etc.). Big Data collected from IoT devices can help WISeKey’s customers detect and predict future behavior and optimize productivity across industries through predictive maintenance on equipment and machinery.
As the rapid expansion of connected devices and VaultIC chips connected to the IoT continues, the sheer volume of data being created by them will increase to a mind-boggling level. This data will hold extremely valuable insight into “what’s working well or what’s not” by pointing out conflicts that arise and providing high-value insight into new business risks and opportunities as correlations and associations are made.
The IoT Industry is a game changer new business segment for WISeKey. An estimated 50 billion IoT devices are expected to be connected by the end of 2020, while world’s population is estimated to grow to 6.8 billion; thus, there will be more than 7 IoT devices per person connected to the internet by 2020.
As a result, it is anticipated that this year already the number of IoT devices will surpass the number of mobile devices. By 2021, this number is expected to grow to 1.8 billion PCs, 8.6 billion mobile devices, and 15.7 billion IoT devices, and by 2035, the amount of data usage is expected to grow more than 2,400 times, from 1 exabyte to 2.3 zettabytes. A huge and increasing amount of sensitive data that will need to be protected by the IoT chips (such as the ones produced by WISeKey) will be interchanged between connected devices and back-end servers, allowing companies to provide users with new type of applications. These applications will be designed to offer increased control over the use of resources, improve efficiency in power grids, optimize processing of information in industrial environments, secure autonomous vehicles, provide better and higher quality healthcare services and personalized experience for shopping or leisure, among others.
This new technology enables IoT connected devices which can provide a recognized identity and a valid integrity report to communicate with peer devices within the community. WISeKey offers a range of contact and contactless secure microcontrollers that share consistent secure 8-/16-bit RISC CPU performance, strong security mechanisms, and enhanced crypto engines to optimize performance and power consumption. The products also provide high-density, low-power EEPROM technologies. Designed to meet the most stringent security requirements, many of these products are EAL5+ Common Criteria security-certified.
This new capability will enable authenticated sensor data. Currently, most IoT devices are not built with embedded secure systems, which makes these devices vulnerable to exploits. By integrating AI into the IoT hardware and platform, objects connected to the Vertical Platform can develop their own cybersecurity behavior and make smarter and safer decisions.
Objects secured with these IoT chips produce a huge amount of Big Data that when analyzed with AI can help industrial applications to predict the failure of their equipment before it happens. The WISeKey platform allows the IoT device equipped with these chips to send authenticated data to the cloud using a dual factor authentication at the device level. Imagine a smartcard sending authenticated data of each component of the car to predict when these parts will require maintenance and to digitally sign all the logs required to prove that service was provided. This platform which can be used in different industrial applications allows optimized productivity across industries through predictive maintenance on equipment and machinery, creates truly smart homes with connected appliances and provides critical communication between devices including self-driving cars and smart homes. The possibilities that IoT brings to the table are endless.
WISeKey’s technology creates a platform that helps connected devices to become intelligent devices that can learn from attacks, defend themselves, and transfer this intelligence to other devices within the network.
Additionally, WISeKey’s technology provides smaller IoT manufacturers that do not have the resources or expertise to perform thorough security analysis of their products will the ability to adopt this platform, reducing the number of unprotected products that are released to consumers.
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN, NASDAQ: WKEY) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
Press and investor contacts:
| WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
| WISeKey Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
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