WISeKey’S AIoT SOLUTIONS OFFER THE BEST PROTECTION AGAINST CYBER ATTACKS ON CONNECTED CARS

Rhea-AI Summary

WISeKey International Holding Ltd (NASDAQ: WKEY) has announced its advanced AIoT cybersecurity solutions for connected cars to combat increasing cyber threats. Entering this sector in 2019 through collaboration with Daimler AG, WISeKey's technology validates vehicle components and secures communication. Their comprehensive AI-enabled platform, WISeAI, integrates semiconductors and IoT systems to enhance digital security. With an estimated 94 million connected cars expected to be sold in 2021, the demand for robust cybersecurity measures is critical as cars become more reliant on software.

Positive

• WISeKey's entry into the connected car sector addresses rising cybersecurity threats, enhancing vehicle safety.
• Partnership with Daimler AG showcases the effectiveness of WISeKey's solutions in real-world applications.
• Launch of the WISeAI platform integrates advanced technologies to secure a growing number of IoT devices.
• Market demand projected with 94 million connected cars expected to be sold by 2021 highlights significant growth potential.

Negative

• None.

WISeKey’S AIoT SOLUTIONS OFFER THE BEST PROTECTION AGAINST CYBER ATTACKS ON CONNECTED CARS

Geneva, October 13, 2020 – WISeKey International Holding Ltd. (“WISeKey” NASDAQ: WKEY; SIX Swiss Exchange: WIHN), cybersecurity delivering AIoT Integrated Security Platforms, today announced that its cybersecurity offering (hardware and software platform) for connected cars addresses safety and security issues arising from system vulnerabilities. 

WISeKey entered the connected cars security segment in 2019 when Daimler AG started to use its technology to validate the authenticity of different vehicle components, protect onboard communication between vehicle components and provide over-the-air software updates. The automotive industry is facing a major cybersecurity challenge due to digitalization: Big Data coming from multiple connected sources in the car including its operating system is only getting larger and more complex, making it increasingly difficult for connected cars manufacturers to analyze and protect the connected car against cyber threats. The best way to cut through the data clutter and identify potential attacks is by leveraging AI for behavioral analysis of the data.

Additionally, WISeKey PKI’s authentication certificates are used by employees, dealers and suppliers to access car components to diagnose mechanical/technical issues and update software, from any location. The WISeKey PKI platform also allows users to securely interact with a car’s smart features using smartphones and other devices that includes the integration of WISeKey IoT and PKI with the manufacturer’s connected car solutions allowing them to authenticate legitimate car components and enable owners to securely interact with the car’s smart features.

“As the connected car industry continues to evolve, essentially becoming software on a metal shield, cars are vulnerable to the very same threats and attacks as home computers, laptops and smartphones.  Unless appropriate cybersecurity measures are implemented, hackers can remotely access the vehicle’s computer system, manipulate the brakes, engine, and transmission.  Our tamperproof chips and embedded software are designed to prevent and protect connected cars against hacking,” said Carlos Moreira, CEO of WISeKey. 

WISeKey and arago joined  forces last month to implement the first ever end-to-end AIoT platform with the codename WISeAI resulting from the groundbreaking combination of their industry leading products: arago’s AI based Knowledge Automation and Data platform HIRO and WISeKey’s Cybersecurity, European Root of Trust and IoT/semiconductors technologies. AIoT integrates semiconductors, smart sensors, IoT systems, Artificial Intelligence and a data cloud to deliver to customers a unique offering to power innovation and digital transformation. Using WISeKey’s cybersecurity technology and IoT network, data will be collected in HIRO where it can be processed and through automation acted upon in real time in a highly secure environment. 

AIoT is the brain that will power the nervous system of the network of IoT objects operating in the WISeKey Ecosystem, which currently connects over 1.6 billion IoT devices secured with WISeKey’s VaultIC. With the introduction of 5G, the EcoSystem will continue to grow at a much faster rate as 5G will enable the connection of every object, person, and machine. AIoT will embed AI into the core infrastructure components of the EcoSystem including Root of Trust, semiconductors, and edge computing. Specialized APIs are then used to provide interoperability between components at the device, software and platform level to optimize system and network operations.  Data processed through AIoT is then collected and made accessible to extract value and enhance market intelligence and knowledge for customers.  AIoT also enables secure automation of actions and business decisions based on real time data and enables IoT to work independently with minimal human support, unlike the current state of the market which requires that all actions be coded in advance based on pre-defined scenarios. 

With the use of AI algorithms and predictive maintenance implemented through AIoT, IoT devices will have the capability to dynamically determine actions to take decisions and self-program based on analytics and customer defined knowledge, resulting in lower operating and maintenance costs for providers.Connected cars are distinct from basic models primarily due to their ability to access to the Internet via their communication system.  It allows the driver to connect their smartphone to the car, but also the car itself to connect to surrounding cars and infrastructures. Passengers can, therefore, benefit from extended services, particularly through apps. Those connected cars consist of 6 essential points:

• Mobility management (travel assistance, traffic information)
• Vehicle management (real-time vehicle status information)
• Safety (prediction of dangerous situation)
• Driver assistance (cruise control on the highway, assistance to park)
• Entertainment (games, music, social networks, internet)
• Well-being (detection of fatigue, medical assistance)

Virtually all new cars on the market today include electronic technologies that could be vulnerable to hacking or privacy intrusions if data security is not addressed.   Embedded WISeKey hardware security in the car protects the “identity” of each device, prevents unauthorized tampering, and protects the privacy and security of the vast amount of data these devices generate. BI Intelligence expects 94 million connected cars to be sold in 2021 (with 82% to be connected cars), representing a compound annual growth rate of 35% from 21 million connected cars sold in 2016. 

A fundamental principle behind the security of WISeKey Semiconductors is that its chips not only control how devices perform under normal conditions, but also control how these devices react when attacked or tampered with in any way, including self-destruction. WISeKey Semiconductor chips are designed to authenticate individual car components within the vehicle itself, ensure that only legitimate software is installed in the car, authenticate users, make certain that only legitimate users have access to the connected car functions, and encrypt data to make it tamperproof and private. 

About WISeKey

WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) 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 info@wisekey.com

WISeKey Investor Relations (US) Contact:  Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@equityny.com

Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

FAQ

What is WISeKey's announcement on October 13, 2020, regarding connected cars?

WISeKey announced its AIoT cybersecurity solutions specifically designed to protect connected cars from cyber attacks.

How does WISeKey address cybersecurity in connected cars?

WISeKey uses AI and a robust hardware-software platform to secure vehicle components and communication.

What partnership did WISeKey establish for its connected car solutions?

WISeKey partnered with Daimler AG to implement its technology for vehicle component security and software updates.

What is the projected market for connected cars in 2021 according to WISeKey?

WISeKey projects that 94 million connected cars will be sold in 2021, with 82% being connected models.

What technology does WISeKey's WISeAI platform incorporate?

The WISeAI platform integrates AI-based automation and data processing with cybersecurity for IoT devices.