Vancouver, British Columbia—(Newsfile Corp. – July 18, 2023)—Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and related subsidiaries (“Plurilock” or the “Company”), an identity-centric cybersecurity solutions provider for workforces, is pleased to announce that the Company has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) for an omnibus system of AI-driven cloud access security broker (CASB) technology features that protect against the inadvertent or intentional release of sensitive data while generative AI is being used.
More businesses worldwide are now utilizing AI and the global AI adoption rate was 35% in 2022, an increase of four points from 2021 with an additional 42% of companies reported to be exploring AI.1 However, businesses lack the framework, policies, and expertise to ensure their workforce uses generative AI tools safely and prevent confidential and sensitive data from being leaked.2 Based on the current AI trends in the business landscape, the Company filed this U.S. provisional patent application in accordance with its strategy of enabling enterprises to gain the benefit from AI tools while maintaining the security of private data.
The application covers a comprehensive omnibus CASB system that automatically anonymizes or redacts confidential information in AI interactions in such a way that:
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The AI platform does not receive any confidential information provided by the user
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The AI user need not be aware of any anonymization or redaction having occurred
Users of the technology will be able to productively leverage the gains provided by generative AI systems, including for sensitive work, without this sensitive data being revealed or leaked to the AI platform or model.
The Company intends to develop the technology into an enterprise solution that provides a way for businesses and other organizations to manage and govern the data revealed to AI platforms, without having to block AI either access in general or certain kinds of AI prompts in particular.
“As generative AI tools explode in popularity, the leaking of sensitive data into AI systems has become a top concern among the business and government leaders we speak to,” said Ian L. Paterson. CEO of Plurilock. “As a cybersecurity company, providing AI safety solutions is a key mission for us. Our development of this new CASB-for-AI technology addresses a potentially catastrophic problem that we know many organizations are urgently facing today.”
Plurilock has established significant expertise in CASB, Data Loss Prevention and Single Sign-On as a direct result of Plurilock’s acceleration of its business strategy and growth in the Plurilock AI platform, which has enabled rapid Research and Development in this new technology.
About Plurilock
Plurilock secures workforces in the age of AI through its Plurilock AI platform, delivering advanced identity, access management, data safety, and AI safety solutions to commercial and government customers worldwide. With patented artificial intelligence and patented real-time identity confirmation technology, Plurilock AI enables zero-trust architecture and threat detection and response capabilities for regulated organizations with remote workforces. Through its Solutions Division, Plurilock aggregates world-class IT services and brings a comprehensive line of products that enable teams across North America and the globe to compute safely in a remote work world.
For more information, visit https://www.plurilock.com or contact:
Ian L. Paterson
Chief Executive Officer
ian@plurilock.com
416.800.1566
Prit Singh
Investor Relations
prit.singh@plurilock.com
905.510.7636
Forward-Looking Statements
This press release may contain certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) related to future events or Plurilock’s future business, operations, and financial performance and condition. Forward-looking statements normally contain words like “will”, “intend”, “anticipate”, “could”, “should”, “may”, “might”, “expect”, “estimate”, “forecast”, “plan”, “potential”, “project”, “assume”, “contemplate”, “believe”, “shall”, “scheduled”, and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Plurilock’s business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, the success of the Company in obtaining new or extended contracts or orders; the Company’s ability to maintain existing customers or develop new customers; the Company’s ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof; and unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. This list is not exhaustive of the factors that may affect the Company’s forward-looking statements. Many of these factors are beyond the control of Plurilock. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Plurilock undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company’s business are more fully discussed under the heading “Risk Factors” in its most recent Annual Information Form. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR at www.sedar.com.
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