San Juan – “Tim”, this is the name of the new virtual risk advisor, designed and launched by Advisers, the governance, risk and technology compliance consulting firm based in Puerto Rico. The new technology uses algorithms artificial intelligence to assess the level of cybersecurity risk in companies and different economic sectors.
According to Dimaris Aquino, director and founder of Advisers, the new tool took about five months to develop, becoming the first firm to develop and train artificial intelligence algorithms for risk assessments cybersecurity in real time.
“Generally these tools use a historical database that has a cut-off (end) at a certain date. So, the challenge we had with this project was that in order for Tim to be effective for our clients and our prospects, he had to give them access to cybersecurity threats in real time,” Aquino explained about the preparation process.
The certified public accountant (CPA) refers to the training of the algorithm, since this artificial intelligence will “function similar to how a human being functions”However, it clarified that it will not supplant the human advice that Advisers has.
For the purposes of the interview with Negocios, the director of the firm interacted with Tim and gave a demonstration with an alleged case of the banking sector on the island where 50,000 records would be vulnerable to a cyber attack. After validating the data, the artificial intelligence, in a matter of no more than two minutes, estimated the risk of loss of $9.4 million, detailed the main threats and made about 10 recommendations for action.
“So it is a risk profiler that will allow entities in Puerto Rico to have visibility of their cybersecurity risk in real time, analyzing data in real time. It will present the typical threats of your industry, based not only on your industry, but also on the technological infrastructure that the entity has.”Aquino said.
The objective is that small and medium-sized companies also have the opportunity to measure cyber risks with this tool for free. Aquino also indicated that Tim It is now available for free on the Advisors website.
Although Aquino did not give details about the investment, he acknowledged that it was a “significant and sufficient amount, not only in financial matters but also in terms of internal resources.” Part of the firm's work team was separated for the past few months to work on this innovative technology.
Tim opens international doors
Part of the firm's objective in launching its Tim services through its website is to be able expand its reach to markets outside of Puerto Rico, particularly to USA and Spain.
“Tim and our website now allow us to expand services specifically to the United States and European markets, where we are interested in being able to serve clients who need it,” said Aquino.
The algorithm that governs Tim is an innovative one that is owned by Advisors, so they do not rule out improving the technology, creating new algorithms or even selling Tim internationally.
“Tim has become an asset to the firm. This positions us as the first firm to have the artificial intelligence algorithm as an asset, which means that we could sell in the future, if we wanted to.”Aquino said.
In addition, the data that Tim receives from companies at the local level will allow the firm to carry out other analyzes on the Puerto Rican business sector.
It should be noted that Advisers is also the first local firm to present managed information technology (IT) governance, risk and compliance services under a subscription model through its website, similar to an e-commerce operation model. .
Currently, the risk analysis firm appears to have been registered on the island as Sanglass, LLC, since 2021, directly employing eight people and around 12 to 15 indirect employees who support specific projects.