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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: There's so much to talk about right now on this Friday,

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Speaker 2: whether it's in the markets or just broader company news

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Speaker 2: right now. But one thing I did want to talk

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Speaker 2: about is cybersecurity, Scarlett. I mean, cybersecurity is becoming increasingly

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Speaker 2: more important, especially as we see a lot of online

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Speaker 2: threats ramping up and honestly getting more and more creative.

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Speaker 3: Yeah, not a day goes by that you don't hear

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Speaker 3: about a country or a company getting hacked by someone

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Speaker 3: or some band of people. And you know, at a

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Speaker 3: consumer level, obviously it's very concerning when you've got everything

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Speaker 3: in your email or in your phone.

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Speaker 2: Absolutely with us to talk about this in more is

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Speaker 2: Vincent Palette. He's CEO of gen Digital, which trades on

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Speaker 2: the NASDAC underticker ge IN. You may be familiar with

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Speaker 2: one of its brands, Norton, but we are joined by

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Speaker 2: Vincent from Belgium. Actually, Vincent tell us a little bit

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Speaker 2: about the current landscape right now as we think about

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Speaker 2: protection from CyberSecure threads.

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Speaker 1: Yeah, as you've mentioned, the threat landscape is very dynamic

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Speaker 1: at a high level now, all enabled by AI, which

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Speaker 1: really increased the complexity of the threat, the sophistication of

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Speaker 1: the thread the threads and becoming very difficult to detect.

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Speaker 1: And you mentioned that the enterprise are being attacked, but

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Speaker 1: the enterprise are protecting themselves more and more. So, who

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Speaker 1: is less vulnerable in the middle is the consumer and

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Speaker 1: whether it's a deep thig, a scam, fishing, leveraging your

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Speaker 1: data that they've been breached somewhere else and then capturing

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Speaker 1: that to create some damages. The overall damages for the

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Speaker 1: consumers in the US alone is over fifteen billion dollars

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Speaker 1: and growing double digit these days.

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Speaker 4: Pretty incredible growth rate there.

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Speaker 3: What are the most common ways that people find their

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Speaker 3: data their personal data compromised and what are some of

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Speaker 3: the more unusual ways in which it happens.

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Speaker 1: I would say that today eighty percent of the threat

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Speaker 1: facing consumers are scam or social engineerings. And it's about

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Speaker 1: collecting a vast amount of personal data that you have

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Speaker 1: in the digital world, whe was it you know it,

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Speaker 1: you put them on your own social media websites, or

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Speaker 1: whether those data have been breaches as part of you

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Speaker 1: shopping online or shopping into a different environment, and then

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Speaker 1: the data is being captured sold in the dark web,

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Speaker 1: and now with AI tools, very sophisticated personalized emails or

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Speaker 1: text are full in consumers. We've detected last quarter over

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Speaker 1: one hundred and forty thousand websites that mimic real brand

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Speaker 1: website driven by AI, but actually are just meant to

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Speaker 1: capture and create financial damages for consumers.

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Speaker 2: How is Gen Digital leveraging AI just to push productivity

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Speaker 2: forward at the company as we think about it in

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Speaker 2: relation to cybersecurity.

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Speaker 1: As a topic of the day of course, right, So

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Speaker 1: not only is the AI is a threat from being

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Speaker 1: used by hackers a threat for consumers, but we also

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Speaker 1: add Gen Digital using AI to protect our consumers. So

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Speaker 1: we're the first one to come with the full model

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Speaker 1: for anti scam and being able to detect real time

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Speaker 1: scams as they hit either your text, your voice or

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Speaker 1: your emails. And now we embedding that more into cheap

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Speaker 1: manufacturers to create deep fake solutions and really making sure

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Speaker 1: we can detect what's the problem of the day, what's

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Speaker 1: the reality? Is this message real or not? Is this

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Speaker 1: video real or not? It's this voice real or not?

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Speaker 1: And we heavily investing into moving our over threat protection

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Speaker 1: into an AI powered threat thread detection.

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Speaker 3: So, in terms of companies and consumers spending on protection

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Speaker 3: from the cybersecurity threats, what have you observed so far

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Speaker 3: in twenty twenty five. You know, we know that earning

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Speaker 3: the season has gone pretty well for most companies.

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Speaker 4: You have just reported results as well.

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Speaker 3: Your second quarter just VPS beat anless estimates by a

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Speaker 3: penny and your second quarter revenue coming in slightly higher

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Speaker 3: than what was anticipated. Are companies growing their spending on

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Speaker 3: cybersecurity at a stable rate or has that picked up?

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Speaker 3: Do you see them pulling back a little bit if

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Speaker 3: the economy starts going south a bit.

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Speaker 1: No, Definitely, people are investing more into making sure that

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Speaker 1: the defense is becoming more and more sophisticated to address

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Speaker 1: the over threat landscape. You've seen our report. You mentioned

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Speaker 1: that we had another outstanding quarter beaten race here in

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Speaker 1: Q two that followed another beat and race in Q one.

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Speaker 1: As we're developing not only the protection of security, but

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Speaker 1: enable the consumer to be secure, to be private, to

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Speaker 1: also manage the identity and their reputations, we are expanding

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Speaker 1: the pie if you want, and that has enabled us

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Speaker 1: to post it another quota at about twenty five percent growth,

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Speaker 1: which the help of our most recent acquisition, which is

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Speaker 1: leading into the financial wellness. As you protect your data,

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Speaker 1: you want to protect your financial position. You also want

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Speaker 1: to help consumer manage and grow that position.

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Speaker 2: So we're headed into the holiday season, do you all

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Speaker 2: tend to see any sort of uptick in terms of

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Speaker 2: cybersecurity threads or maybe identity theft even and if so,

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Speaker 2: how can consumers protect themselves.

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Speaker 1: It's definitely a higher risk season. Obviously, everybody wants to

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Speaker 1: go out and shop more, dine more, and that's at

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Speaker 1: every point in time you're exposing you personal data out.

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Speaker 1: So we constantly educate our customers to make sure that

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Speaker 1: these days they are really controlling where do they put

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Speaker 1: their credit cards, which website they go and shop from,

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Speaker 1: and making sure they use our anti scan detection tools

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Speaker 1: and models to make sure we can detect where the

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Speaker 1: risk is. But definitely we advise everyone to be cautious.

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Speaker 1: These days, harkers are out there and trying to collect

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Speaker 1: you personal digital footprint.

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Speaker 4: Does people's infatuation with.

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Speaker 3: Cryptocurrency, bitcoin, digital wallets, does that increase the likelihood that

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Speaker 3: they might be a target of of cyber attacks.

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Speaker 1: I would say that the overall penetration of your digital footprint,

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Speaker 1: your life becoming more and more a digital life, and

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Speaker 1: the middle of payments that you mentioned is just another

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Speaker 1: sign of moving more online, which then creates, of course

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Speaker 1: also more risk to be to be to be to

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Speaker 1: be attacked. So the overall trend is to move more

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Speaker 1: online in many different dimensions, including uh the method of payments.

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Speaker 2: What's your strategy for rebuilding or maintaining trust at a

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Speaker 2: time where cybersecurity failures continue to make headlines.

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Speaker 1: And it's not only cybersecurity failure, it's only also a

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Speaker 1: time where with a I it's difficult to detect what's

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Speaker 1: reality and what's a fake. So so there're still a

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Speaker 1: reality we're discussing and so definitely trying to making sure

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Speaker 1: we equip our consumers in our tools with deep fake

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Speaker 1: detection and ability to really see what is produced by

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Speaker 1: a machine use what is a natural piece of content

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Speaker 1: is an important needs that we're trying to address.

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Speaker 4: All right, good stuff.

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Speaker 3: Really appreciate your joining us today with your recap of

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Speaker 3: your results and to give us kind of the overview

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Speaker 3: of what it looks like here in the cyber security space.

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Speaker 3: Vincent Palette is chairman and CEO of Gen Digital