exhibit malicious behaviour that most probably will be noticed by a security solution. What’s more, the bot-written malware is likely to contain subtle errors and logical flaws which means that full automation of malware coding is yet to achieve. “While ChatGPT doesn’t do anything outright malicious, it might help attackers in a variety of scenarios, for example, writing convincing targeted phishing emails. However, at the moment, ChatGPT definitely isn’t capable of becoming some sort of autonomous hacking AI. The malicious code that the neural network generates will not necessarily be working at all and would still require a skilled specialist to improve and deploy it,” commented Vladislav Tushkanov, a Security Expert at Kaspersky. Although the tool may be useful to attackers, defenders can also benefit from it. For instance, ChatGPT is already capable of quickly explaining what a particular piece of code does. It comes into its own in SOC conditions, where constantly overworked analysts have to devote a minimum amount of time to each incident, so any tool to speed up the process is welcome. In the future, users will probably see numerous specialised products: a reverse-engineering model to understand code better, a CTF-solving model, a vulnerability research model, and more. “Though ChatGPT doesn’t have an immediate impact on industry and doesn’t change the cybersecurity game, the next generations of AI probably will. In the next few years, we may see how large language models, both trained on natural language and programming code, are adapted for specialised use-cases in cybersecurity. These changes can affect a wide range of cybersecurity activities, from threat-hunting to incident response. Therefore, cybersecurity companies will want to explore the possibilities that new tools will give, while also being aware of how this tech might aid cybercriminals,” he concluded.
Africa’s Tech Ecosystem Proves Resilient With $6.5B Raised In 2022 Partech Africa, the VC fund dedicated to technology start-ups in Africa, issued its annual report on Africa Tech Venture Capital. The report, which aims to provide a practical picture of the state of the ecosystem, revealed that despite the global VC downturn, the African tech ecosystem grew faster than all other markets globally. Total funding invested into tech start-ups on the continent reached $6.5B, an increase of 8 per cent vs 2021, spread across 764 deals compared to 724 rounds in 2021. The report, consisting of disclosed and confidential deals, saw debt funding more than double in volume, reaching $1.55 billion through 71 deals [65 per cent YoY growth]. In comparison, equity rounds showed a slight decline, as 653 African tech start-ups raised $4.9B [-6 per cent] in 693 equity rounds [2 per cent YoY growth]. Focusing on the equity funding, the report revealed the ecosystem was still accelerating during Q1 and Q2 of 2022 compared to 2021, with the YoY comparison showing Q1 and Q2 at +127 per cent YoY and +83 per cent YoY, respectively. However, the global VC slowdown stifled growth in activity in Q3 [-65 per cent YoY] and Q4 [-35 per cent YoY]. In 2022, fundraising activities remained flat across all stages. At $1.4M, Seed+ ticket sizes averaged higher in 2022 [+12 per cent YoY], while Series A remained the same at $8.5 million. Later stages reverted to 2019 levels, as Series B and growth round sizes dropped by -23 per cent and -50 per cent YoY, respectively. In addition, 2022 witnessed a significant reduction in the number of megadeals [over 100M], with only seven deals compared to 14 in 2021. Commenting on the annual report,
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Tidjane Deme, General Partner at Partech, said, “2022 was a particularly challenging year for the venture ecosystem worldwide, as venture and growth investors scaled back their investment by a third. However, by comparison, our report revealed the African tech ecosystem showed great resilience, as more investors have doubled their commitment to the continent by investing in local teams and funds dedicated to the market, which is proving to be the best way forward.” Overall, Nigeria, South Africa, Egypt and Kenya remain the top investment destinations in Africa, with a share of total volume staying relatively steady at 72 per cent. Nigeria retained the top rank, bringing in $1.2 billion in capital, despite a decline of 36 per cent from 2021; South Africa, Egypt, and Kenya each attracted over $0.7 billion in funding, with Ghana completing the top five with just over $0.2 billion. Overall, 28 countries attracted equity funding in 2022, 13 of them in Francophone Africa.. In light of the market downturn, the report’s findings also revealed that fintech, which has historically attracted sizable investments, was the most impacted by the slowdown in the number of large rounds. However, fintech remains the most funded sector in Africa, and this across all sources of capital, with 39 per cent of the total equity volume [$1.9 billion] and 45 per cent of the total debt volume [$691 milllion]. Other sectors have experienced substantial growth and gained a meaningful share of the equity funding activity this year, most notably Cleantech, which made a big comeback with 18 per cent of total equity funding at $863 million [+347 per cent YoY] but also 39 per cent of the total debt funding at $605 million.
