TH!NXLetter #4: 2nd Leakage Summit, Robots Inspecting Old Infrastructure, Heat Pumps Vulnerable to Cyberattack, TH!NX & SENSE Event, API?
Welcome to the 4th edition of our TH!NXLetter. Are you ready to dive with us into the latest trends, news, and developments in the realms of IIoT, technology, and risk management? If the answer is yes, keep scrolling.
Have we already told you how much we appreciate your support, whether as a subscriber to our newsletter or as a follower on LinkedIn? Your engagement means the world to us.
Your Team at the HDI TH!NX IIoT Campus
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Sign up Now for the 2nd German Leakage Summit, Taking Place on May 7, 2024
We are happy to announce that the registration link for the 2nd German Leakage Summit is now live. You can register for the event taking place on May 7 at the HDI TH!NX IIoT Campus in Berlin.
This year, we are focusing on 3 interesting topics:
Prevention, Detection, and Repair of Leaks
Digital Water Management
ESG Reporting
If you work in the fields of real estate and site management, as well as commercial facility management, or you are an ESG Manager, this event is for you.
Please note that the summit is conducted in German and it takes place in Berlin at the HDI TH!NX IIoT Campus.
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Cybersecurity: Heat Pumps Alpha Innotec and Novelan Vulnerable
Anyone owning a heat pump from the manufacturer Ait Deutschland should consider updating the controller firmware. A GitHub user, Jaarden, has discovered a vulnerability in it – the root password for certain control systems was apparently hardcoded into the code, which attackers could potentially exploit to cause significant damage.
According to Jaarden, in the firmware file, he found a shadow file with a 3DES-encrypted password. Decrypting this reportedly took five seconds and revealed the plaintext root password. Read more about this incident here.
This incident underscores the tangible risks that industries face from cyberattacks. As industrial systems become more interconnected and reliant on internet-connected technologies, the risk of cyberattacks increases. This interconnectedness means a single vulnerability, like a hardcoded password, can have far-reaching consequences.
Global spending on cybersecurity amounted to 71 billion US dollars in 2022, while the amount was 34 billion US dollars in 2017. With increasing threats and growing dependence on digital technologies, investments in cybersecurity are more necessary than ever.
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Robots Automate the Inspection Process of Old Buildings and Infrastructure. Could Insurers Benefit from these Kinds of Inventions?
A group of researchers from Drexel University in Philadelphia has created AI-guided robots that can monitor and assess structural damage in buildings and urban infrastructure by creating digital twins of those structures.
The system combines computer vision with machine learning methods to assess the condition of the building fabric more quickly and accurately.
"Consequently, early and accurate detection and measurement of cracks are essential for timely diagnosis, maintenance, and repair efforts, preventing further deterioration and mitigating potential hazards," the authors wrote.
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This innovation can be used to counter the vast problem of crumbling infrastructure in the world. According to the researchers, their system can reduce inspection workload and enforce timely interventions to prevent structural failure.
The AI-guided robot system for building inspections can significantly benefit insurers and risk managers by providing detailed, accurate, and early detection of structural issues, enhancing risk assessment and mitigation, reducing costs, improving claims management, and supporting labor efficiency and regulatory compliance.
Read more about this innovation here.
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TH!NX Campus and SENSE Consortium Public Event: “Risk Management Technologies Interactive Showcase, Featuring IoT”
We are thrilled to invite you to our event scheduled for Wednesday, April 17th, at the HDI TH!NX IIoT Campus. This event, hosted in partnership with the SENSE Consortium , will feature a showcase of leading IoT vendors during the morning, followed by a networking lunch. SENSE seeks to collaborate and help drive and scale loss prevention through the adoption of IoT in commercial property.
The focus will be on risk management and how IoT solutions are offering new perspectives for early risk mitigation and claims prevention. The morning session is designed for anyone globally interested in exploring risk management solutions for commercial property.
You can look forward to an engaging lineup of risk management solutions. Stay tuned for more details on these demonstrations!
Are you interested? Join us on Wednesday, April 17th, at the HDI TH!NX IIoT Campus in Berlin for this exciting event.
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TH!NXPEDIA: What Is an API?
API stands for Application Programming Interface. It is a tool developers use to gather and transfer data from one application to another. For example, the weather bureau’s software system contains daily weather data. The weather app on your phone “talks” to this system via APIs, and shows you daily weather updates on your phone.
Main Types of IoT APIs
There are four common types of APIs: Public, Partner, Internal and Composite.
Public APIs: Also called Open APIs. These types of APIs are available to the public. Developers outside of an organisation can access these APIs to enhance their own applications
Partner APIs: These types of APIs can only be leveraged by a partner application. To access the API users have to sign and provide authentication.
Internal APIs: Are normally built by companies to manage their applications and computers. Only authorised users can access those and can make changes.
Composite APIs: These combine two or more different APIs to address complex system requirements or behaviors.?
A fun fact about APIs is their sheer number and the extent of their integration into various sectors. As of a report from 2021, the total number of APIs worldwide, both public and private, was approaching 200 million. This explosion in API numbers has led to what's known as "API sprawl," where the rapid and sometimes uncoordinated adoption of APIs results in management and documentation challenges.
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TH!NXShorts: Recommendations for Reading, Watching or Listening
Mighty Guides, Inc. E-book: 8 Industry Experts Discuss Trends in the Internet of Things
To read the E-book, click here.
How Satellite-Cellular Convergence Opens IoT Markets
To read the full article, click here.